January 25, 2017 / 13:01 IST
Angel Commodities' report on Gold
On Tuesday, spot gold prices declined by 0.71 percent to close at $1208.7 per ounce sliding from a two-month peak as investors took stock of U.S. President Donald Trump's first policy moves and the dollar stabilized after plumbing seven-week lows this week. Trump formally withdrew from the Trans-Pacific Partnership trade deal on Monday and told U.S. manufacturing executives he would impose a hefty border tax on firms that import products after moving American factories overseas.
Outlook
We expect gold prices to trade lower today on account of profit booking at higher levels, besides, weak dollar index will also be supportive. Uncertainties with regards to the policies of the US government still bother investors across the globe. ON the MCX, gold prices are expected to trade lower today, international markets are trading lower by 0.2 percent to close at $1206 per ounce.
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