Moneycontrol
Get App
Last Updated : Feb 28, 2020 11:14 AM IST | Source: Moneycontrol.com

Gold prices are expected to trade higher today: Angel Broking

According to Angel Broking, On Thursday, Spot Gold prices ended higher by 0.27 percent to close at $1639.6 per tonne as worries over the impact of the Coronavirus breakout could turn into a pandemic and hamper the global economy.


Angel Broking's report on Gold


On Thursday, Spot Gold prices ended higher by 0.27 percent to close at $1639.6 per tonne as worries over the impact of the Coronavirus breakout could turn into a pandemic and hamper the global economy. The impact of the virus breakout is much severe than earlier assessed which dented the risk appetite amongst investors in turn boosting the appeal for the bullion metal. Increase in number of cases from Italy and Iran while U.S. and Germany getting prepared for virus breakout raised genuine concerns in the markets. Moreover, markets assessed that the U.S. Federal Reserve and European Central Bank will soon trim its interest rates considering the worries over the rapidly spreading Coronavirus.



Outlook


Increase in number of coronavirus cases beyond China might continue to shift the investors towards the safe haven asset, Gold. On the MCX, gold prices are expected to trade higher today.


For all commodities report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.




Moneycontrol Ready Reckoner
Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.
Get best insights into Options Trading. Join the webinar by Mr. Vishal B Malkan on May 28 only on Moneycontrol. Register Now!

First Published on Feb 28, 2020 11:14 am
Sections
Follow us on