Moneycontrol
Last Updated : May 07, 2018 11:58 AM IST | Source: Moneycontrol.com

Gold prices to trade higher today: Angel Commodities

According to Angel Commodities, last week, spot gold prices declined 0. 4 percent to trade at $ 1311.2 per ounce while MCX gold prices declined 0.6 percent although rupee depreciation of around 2 percent did not help gold prices much.

Broker Research @moneycontrolcom

Angel Commodities' report on Gold


Last week, spot gold prices declined 0. 4 percent to trade at $ 1311.2 per ounce while MCX gold prices declined 0.6 percent although rupee depreciation of around 2 percent did not help gold prices much. Stronger US dollar optimistic data sets from the US and assurance from the FED that the rate hikes will be gradual in 2018 kept the gold prices in check for most of the last week. The Fed said inflation on a 12 - month basis was "expected to run near the committee's symmetric 2 percent objective".  However, sharp downside was limited as u ncertainties supported bullion, including U.S. - China trade talks and the potential U.S. withdrawal from the Iranian nuclear accord.

Outlook
We expect gold prices to trade higher today as the Iranian nuclear accord and the US China trade tensions will boost safe haven demand. On the MCX, gold prices are expected to trade higher today, international markets are trading higher by 0.2 percent at $ 1317.70 per 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 May 7, 2018 11:58 am
Loading...
Sections
Follow us on
Available On