Gold prices to trade higher Angel Commodities

Angel Commodities' commodity report on Gold

On Monday, spot gold prices rose 1.02 percent to close at $1310.2 per ounce reversing earlier losses as geopolitical risks drove safe - haven buying. Bullion rose 1 percent on rising tensions between North Korea and the United States, and on German Chancellor Angela Merkel's less - than - resounding victory in Sunday's national election.  North Korean Foreign Minister Ri Yong Ho said U.S. President Donald Trump had declared war on the Asian nation and Pyongyang reserves the right to take countermeasures, including shooting down U.S. bombers. On the MCX, gold prices rose 1.63 percent to close at Rs.30185 per 10 gms.

Outlook

The risk and uncertainty with regards to North Korea and the US remains and will induce safe haven appeal for the yellow metal while comments from North Korea with regards to the state of war are something that investors will closely watch for. On the MCX, gold prices are expected to trade higher today, international markets are trading higher by 0.2 percent at $1312 per ounce.

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