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Gold prices are expected to trade sideways today: Angel Commodities

According to Angel Commodities,On Thursday, spot gold prices declined by 0.11 percent to close at $128 0.6 per tonne whereas on the MCX , Gold prices declined marginally by 0.4 percent to close at Rs.32 0 13.0 per 10 gms.

January 25, 2019 / 11:29 AM IST

Angel Commodities' report on Gold


On Thursday, spot gold prices declined by 0.11 percent to close at $128 0.6 per tonne whereas on the MCX , Gold prices declined marginally by 0.4 percent to close at Rs.32 0 13.0 per 10 gms. Prices started to decline after appreciation was seen in the Dollar. The Dollar index rose by 0.5 percent in yesterday’s trading session which pressurized the yellow metal. Even the global equities ticked higher which pointed towards increasing risk appetite amongst investors which pushed the gold prices further down.


Outlook


Prolonged closure of the US government and slowdown in the global economy might support the gold prices. However, uptrend in the Dollar Index might cap the gains. On the MCX, gold prices are expected to trade sideways today ; international markets are trading higher by 0. 14 percent at $ 1281.55 per ounce.


For all commodities report, click here


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first published: Jan 25, 2019 11:29 am

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