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Last Updated : Mar 01, 2017 12:09 PM IST | Source: Moneycontrol.com

Expect Gold prices 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


Spot gold prices fell by 0.3 percent to $1248.5/oz, retreating from three and half month highs yesterday ahead of Trump’s speech before the Congress. Still, the safe haven metal has witnessed gains of around 4 percent in February thanks to uncertainty regarding Trump’s policies and Federal Reserve interest rate path going forward.


Outlook


We expect gold prices to trade lower today as international markets are currently lower by 0.5 percent at $1242.7 per ounce as global markets rejoiced after Trump reiterated on his plans to offer tax cuts to the middle class and a higher infrastructure and defense spending. 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 1, 2017 12:09 pm
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