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Gold prices are expected to trade higher today: Angel Broking

According to Angel Broking, On Wednesday, markets were closed on account of Christmas. Lack of details about the interim trade deal between U.S. and China amid weak economic data published by U.S. continued to boost the demand for the safe haven asset, Gold.

December 26, 2019 / 10:46 AM IST

Angel Broking's report on Gold


On Wednesday, markets were closed on account of Christmas. Lack of details about the interim trade deal between U.S. & China amid weak economic data published by U.S. continued to boost the demand for the safe haven asset, Gold. Declining number of new orders for U.S. made capital goods signalled weakness in the business sector in the world’s biggest economy which raised worries in the markets. Moreover, no cues on the interim trade deal between U.S. & China after it was announced earlier this month started to weigh on the market sentiments.


Outlook


Officials stated that U.S. & China are close to signing a contract; however, no concrete development might keep the investors cautious. On the MCX, gold prices are expected to trade higher today; international markets are higher by 0.20 percent at $1507.85 per ounce.


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first published: Dec 26, 2019 10:46 am

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