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Jan 04, 2018 01:24 PM IST | Source: Moneycontrol.com

Gold prices to trade lower: Angel Commodities

According to Angel Commodities, expect gold prices to trade lower today on profit booking at higher levels while FED talks about more rate hikes in store and the tax cuts implemented were seen as a beneficial factor.

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Angel Commodities' report on Gold

On  Wednesday, spot  gold  prices  declined by  0.4 percent to close at D1312.8 per  ounce  extending  losses  after the  Federal Reserve released minutes of its December policy meeting, which fed the view among investors that more U.S. interest rate hikes are in store.Though the Fed's meeting minutes showed some disagreement between policy hawks and doves,  "the tax cuts were seen as very beneficial for economy.

Outlook

We expect gold prices to trade lower today on profit booking at higher levels while FED talks about more rate hikes in store and the tax cuts implemented were seen as a beneficial factor.

For all commodities report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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