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Last Updated : Mar 13, 2020 12:49 PM IST | Source: Moneycontrol.com

Gold prices are expected to trade lower today: Angel Commodities

According to Angel Commodities, On the MCX, gold prices are expected to trade lower today.


Angel Commodities' report on Gold

On Thursday, spot gold price ended lower by 3.53 percent to close at $1576.8 per ounce as fears over the coronavirus pandemic led to panic selling. Moreover, appreciating Dollar made the yellow metal expensive for other currency holders which pushed the prices lower.

Even the global stocks and Crude prices dipped yesterday after U.S. President Donald Trump banned travel from Europe to avoid the spread of the deadly virus. The World Health Organization (WHO) declared the new coronavirus as a pandemic and many countries started to take measures to counter the deadly virus.

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Outlook

Rising concerns over the rapidly spreading Coronavirus led to panic selling amongst investors which might push Gold prices lower. On the MCX, gold prices are expected to trade lower today.

For all commodities report, click here

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First Published on Mar 13, 2020 12:49 pm
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