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Last Updated : Aug 28, 2019 01:25 PM IST | Source: Moneycontrol.com

Gold prices are expected to trade higher today: Angel Commodities

According to Angel Commodities, on Tuesday, spot gold prices ended higher by 1.07 percent to close at $1542.4 per ounce.


Angel Commodities' report on Gold


On Tuesday, spot gold prices ended higher by 1.07 percent to close at $1542.4 per ounce. Weak U.S. economic data amid inversion in the yield curve reinfused the recession worries and boosted the appeal for the safe haven asset, gold. No concrete outcome of the U.S. & China trade tiff has further raised slowdown concerns. Markets will now wait for 1st September 2019 where U.S. when the first stage of U.S. tariffs on $300 billion worth of Chinese goods will come into effect. China has also decided to retaliate by imposing tariffs on $75 billion worth of U.S. products effective from the same day.


Outlook


Escalating trade tension between the largest economies in the world might continue to boost the appeal for the safe haven asset, Gold. ON the MCX, gold prices are expected to trade higher today; international markets are trading lower by 0.41 percent to close at 1545.45 per ounce.


For all commodities report, click here


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First Published on Aug 28, 2019 01:25 pm
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