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Last Updated : Nov 30, 2018 01:56 PM IST | Source: Moneycontrol.com

Gold prices to trade sideways today: Angel Commodities

According to Angel Commodities, on Thursday, spot gold prices rose 0.21 percent to close at $1223.6 per ounce as the dollar steadied ahead of the meeting of U.S. President Donald Trump and China’s President Xi Jin Ping at G20 summit in Argentina which commences today to discuss the ir never ending trade dispute.


Angel Commodities' report on Gold


On Thursday, spot gold prices rose 0.21 percent to close at $1223.6 per ounce as the dollar steadied ahead of the meeting of U.S. President Donald Trump and China’s President Xi Jin Ping at G20 summit in Argentina which commences today to discuss the ir never ending trade dispute. The dollar index, which measures the greenback against a basket of currencies, traded flat yesterday after Powell said that while there was "a great deal to like" about U.S. prospects, the Fed's gradual interest - rate hikes are meant to balance economic risks. He added that interest rates were 'just below' neutral estimates. On the MCX, gold prices were down by 0.76 percent to close at Rs.30204.0 per 10 gms.


Outlook


Investors will be cautious about the outcome of the meeting of U.S. & China’s presidents at the G20 summit which commences today in Argentina. ON the MCX, gold prices are expected to trade sideways today, international markets are trading marginally lower by 0.25 percent at $1230.30 perc ounce.


For all commodities report, click here


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First Published on Nov 30, 2018 01:56 pm
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