Present

Associate Sponsors:

Sector Sponsors:

Moneycontrol
Presents Budget 2019

Associate Sponsors

Last Updated : Feb 07, 2019 11:09 AM IST | Source: Moneycontrol.com

Gold prices are expected to trade lower today: Angel Commodities

According to Angel Commodities, optimism expressed by Trump in his yesterday’s speech over a possible trade deal with China might support the prices. However, a stronger Dollar might weigh on the prices.


Angel Commodities' report on Gold


On Wednesday, spot gold prices traded lower by 0.67percent to close at $1306.2per tonne. Dollar continued to strengthen over stronger US job data which pressurized the yellow metal in yesterday’s trading session. However, Spot Gold prices continued to trade above the $1300as concerns over global economic slowdown and the threat of another US government shutdown supported the safe haven asset. On the MCX, Gold prices rose 0.25percentto close at Rs.33327.0 per 10gms.


Outlook


Optimism expressed by Trump in his yesterday’s speech over a possible trade deal with China might support the prices. However, a stronger Dollar might weigh on the prices. On the MCX, gold prices are expected to trade lower today; international markets are trading marginally lower by 0.48percentat $1308.05per ounce.


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.

First Published on Feb 7, 2019 11:09 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant