Gold are expected to trade lower today: Angel Commodities

Angel Commodities' report on Gold

On Wednesday, Spot gold prices declined 0.66 percent to close at $1319.8 per tonne. Dollar rose in yesterday’s trading session over fresh concerns of the US-China trade war which pushed the Gold prices lower. Yesterday, President Donald Trump's chief trade negotiator, U.S. Trade Representative Robert Lighthizer stated that even if the trade spat between US and China ends US will continue to maintain the threat of tariffs on Chinese goods in the coming years. On the MCX, Gold prices declined by 0.24 percent to close at Rs.33286.0 per 10 gms.

Outlook

Increasing trade tension between US-China might push the Dollar high and in turn weigh on gold. On the MCX, gold prices are expected to trade lower today; international markets are trading marginally lower by 0.06 percent at $1320.55 per ounce.

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