According to Angel Commodities, on the MCX, gold prices are expected to trade lower today; international markets are trading flat at $1295.05 per ounce.
Angel Commodities' report on Gold
On Thursday, spot gold declined by 0.99 to close at $1296.0 per ounce whereas Gold on the MCX declined sharply by 1.24 percetn to close at Rs.31808 per 10gms. Dollar gained in yesterday’s trading session as fears of no deal Brexit eased off ahead of a vote to extend the deadline for Britain's exit from the European Union which is scheduled at the end of this month. Trade tension between US & China added the trouble as US President Donald Trump emphasized that he was in no rush to secure a deal with China which raised fresh concerns over possibility of a trade deal between the biggest economies of the world. The officials of both the countries will meet again next month.
Global tension rose demand for U.S. Dollar as a safe haven asset which might pressurize Gold. On the MCX, gold prices are expected to trade lower today; international markets are trading flat at $1295.05 per ounce.