According to Angel Commodities, Last week, spot gold prices traded marginally higher to close at $1254.2 per ounce while MCX gold prices gained 0.4 percent to trade at Rs.30560 per 10 gms.
Angel Commodities' report on Gold
Last week, spot gold prices traded marginally higher to close at $1254.2 per ounce while MCX gold prices gained 0.4 percent to trade at Rs.30560 per 10 gms. Gold prices surged to one week high as weakness in the DX by 0.6 percent boosted an upside in the yellow metal. Gold prices have failed to gain enough momentum despite rising trade tensions in the global arena. Further, US economy growing at 4.5 annualised rate in the second quarter, and steady dollar are blend of options for gold prices to move down in the coming weeks. MCX gold prices gained 0.1 percent to trade at Rs.30650 per 10 gms.
OutlookADP Nonfarm employment change and Non - Farm payrolls data due this week will decide further course of gold prices while interest rate hikes in the US will exert downside pressure on the yellow metal. On the MCX, gold prices are expected to trade lower today, international markets are trading flat at $ 1254.8 per ounce.
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First Published on Jul 9, 2018 11:07 am