Gold prices are expected to trade sideways today: Angel Commodities – Moneycontrol.com

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Angel Commodities’ report on Gold

On Tuesday,s pot gold prices rose 0.4 percent to close at $1284.6 per tonne as slowdown in the global economic growth weighed on the market sentiments and led to an increase in the demand for the safe aven asset. The uptrend in the gold prices was restricted by appreciation in the Dollar Index. Gold prices have risen over 10 percent after hitting 18 months low in August 2018 supported by falling global equitie s and weaker dollar. On the MCX prices rose 0.37 percent to close at Rs.32160 per 10 gms .

Outlook

On the MCX, gold prices are expected to trade sideways today, international markets are trading higher by 0. 04 percent at $ 1283.95 per ounce.

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