According to Angel Commodities, on the MCX, gold prices are expected to trade higher today, international markets are trading lower by 0.43 percent at $1342.05 per ounce.
On Wednesday, Spot Gold prices declined by 0.20 percent to close at $1338.4 per tonne. After touching its highest levels in 10 months, the rally in Gold prices comes to an end after the FED minutes signalled signs of a possible rate hike in 2019 which propped the Dollar higher. The US President Trump suggest that he might consider pushing the deadline of 1 st march 2019 ahead as the talks with China are going well. On the MCX, Gold prices declined marginally by 0.09 percent to close at Rs.33870 per 10 gms.
Outlook
Gold prices might trade lower in today’s trading session as the Dollar corrects after the FED’s minutes over a possible rate hike in 2019. On the MCX, gold prices are expected to trade higher today, international markets are trading lower by 0.43 percent at $1342.05per ounce.
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