According to Angel Commodities, on Thursday, spot gold prices rose marginally by 0.09 percent to close at $1497.3 per ounce.
Angel Commodities' report on Gold
On Thursday, spot gold prices rose marginally by 0.09 percent to close at $1497.3 per ounce. Hopes of monetary policy easing by major central banks around the globe continue to support the bullion metal prices. However, prices traded below the $1500 level as improvement in the risk appetite amongst investors limited the gains for the yellow metal. The European Central Bank trimmed down its interest rates considering the global scenario which supported the yellow metal prices. Investors might have a keen watch on U.S. central bank’s stance; a dovish approach by ECB increased expectation of rate cut by the U.S. Federal Reserve. Spot Gold prices might be pressurized as the ugly tariff war between U.S. & China started to show signs of easing which might dent the appeal for the safe haven asset. However, an actual deal might take time and the negotiations won’t be easy.
Easing of global tension might improve the risk appetite amongst investors and push Gold prices lower. On the MCX, gold prices are expected to trade sideways today; international markets are trading marginally lower by 0.19 percent to close at $1504.55 per ounce.
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