Gold prices expected to trade higher today: Angel Commodities

According to Angel Commodities, On the MCX, Gold prices rose by 0.63 percent to close at Rs.32547.0 per 10gms.

January 29, 2019 / 15:42 IST

Angel Commodities' report on Gold

On Monday, spot gold prices rose marginally by 0.02 percent to close at $1303.5 per tonne. Gold prices continue to trade over the $1300 mark as markets expect that the US Federal Reserve will keep interest rates unchanged during its two-day policy meeting which commences today. The FOMC will meet today and tomorrow in their first meeting of 2019 where Chairman Jerome Powell might take into consideration the slowdown in the global economic growth and pause the rate hike cycle for a while. On the MCX, Gold prices rose by 0.63 percent to close at Rs.32547.0 per 10gms.

Outlook

On the MCX, gold prices are expected to trade higher today; international markets are trading marginally lower by 0.02 percent at $1302.85 per ounce.For all commodities report, click here

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