Gold prices to trade lower: Angel Commodities

Angel Commodities' report on gold

On Monday, spot gold prices rose marginally by 0.26 percent to close at $1275.9 per ounce Gold rose on Monday ahead of a series of central bank meetings and U.S.  President Donald Trump's expected announcement of the next Federal Reserve chair, and amid a slightly weaker U.S. dollar. The metal is facing a slew of potential risks this week, including a two - day U.S. Federal Reserve policy meeting, U.S. payrolls data on Friday and ongoing unrest in Spain's Catalonia region. The Bank of Japan and Bank of England also meet this week to consider interest rate policies. On the MCX, gold prices rose by 0.27 percent to close at Rs.29477 per 10 gms.

Outlook
We expect gold prices to trade lower as the slew of economic events due to be released this week and the US FED meeting are factors to be closely watched for. On the MCX, gold prices are expected to trade lower today, international markets are trading flat at $1275 per ounce.

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