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Last Updated : Apr 12, 2018 01:08 PM IST | Source: Moneycontrol.com

Gold prices to trade higher today: Angel Commodities

According to Angel Commodities, on Wednesday, gold prices rose 1.03 percent to close at $1352.9 per ounce on escalating geo - political tensions in Syria while the U.S. Federal Reserve confirmed policymakers' sentiment of a stronger U.S. economy, denting safe haven appeal.


Angel Commodities' report on Gold


On Wednesday, gold prices rose 1.03 percent to close at $1352.9 per ounce on escalating geo - political tensions in Syria while the U.S.  Federal Reserve confirmed policymakers' sentiment of a stronger U.S. economy, denting safe haven appeal. All Fed policymakers felt the U.S. economy would firm further and  inflation would rise in coming months, minutes of the central bank's  last policy meeting on March 20 - 21 released Wednesday showed. Since the March meeting, Fed officials have largely adopted a wait - and - see attitude to trade policy, noting it is not yet clear if the tariffs  will go into effect and their eventual size if implemented. On the MCX, gold prices rose 1.42 percent to close at Rs.31535 per 10 gms.

Outlook

Escalating geo - political tensions in Syria and possibility of the rate hike in the US and optimistic tone are factors in the near term for volatile gold prices. Missile strikes by the US on Syria will further led investors to bet on safe haven metal in turn positive for gold prices. On the MCX, gold prices are expected to trade higher today, international markets are trading lower by 0.2 percent trading at $1350 per ounce.

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First Published on Apr 12, 2018 01:08 pm
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