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Last Updated : Mar 19, 2019 11:53 AM IST | Source: Moneycontrol.com

Gold are expected to trade higher today: Angel Commodities

According to Angel Commodities, on Monday, Spot gold prices rose by 0.18 percent to close at $1303.5 per ounce on hopes that the U.S. Federal Reserve will continue to have a dovish approach.


Angel Commodities' report on Gold


On Monday, Spot gold prices rose by 0.18 percent to close at $1303.5 per ounce on hopes that the U.S. Federal Reserve will continue to have a dovish approach. The U.S. Fed will commence with its monetary policy meeting today i.e. on Tuesday, which ends with a news conference on Wednesday. The investors expect a dovish stance from the FOMC which has pressurized and Dollar and supported Gold prices. However, worries over U.S.-China trade tensions, U.S.-North Korea relations or Brexit have not really boosted demand for demand in gold, the safe haven asset.


Outlook


Expectation of dovish stance by FED might weigh on the US Dollar and in turn support Gold. On the MCX, gold prices are expected to trade higher today; international markets are trading higher by 0.42 percent at $1306.95 per ounce.


For all commodities report, click here


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First Published on Mar 19, 2019 11:53 am
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