According to Angel Commodities, We expect gold prices to trade higher today as US president is under pressure to explain his role in the James Comey episode.
Angel Commodities' report on Gold
On Wednesday, spot gold prices rose by 1.94 percent to close at $1260.4 per ounce prices rose to a two-week high on Wednesday as political turmoil in the United States reduced expectations of aggressive interest rate rises this year, pushed down U.S. bond yields and drove the dollar to its lowest in six months.
We expect gold prices to trade higher today as US president is under pressure to explain his role in the James Comey episode. Besides, reduced expectations of rate hike in the US will also act as a positive factor for gold. On the MCX, gold prices are expected to trade higher today, international markets are trading higher by 0.07 percent at $1261 per ounce.
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