According to Angel Commodities, gold prices are expected to trade lower today, international markets are trading flat at $ 1250.4 per ounce.
Angel Commodities' report on Gold
On Tuesday, spot gold prices declined by 0. 2 percent to close at $ 1255.2 per ounce while MCX gold prices fell 0.2 9 percent to trade at Rs. 30528 per 10 gms. Gold prices declined as stronger dollar index citing intensified trade woes between the US and China weighed on the precious metal. Not only this, SPDR Gold holdings fell 0.22 per cent to 799.02 tonnes on Tuesday from 800.77 tonnes on Monday.
Outlook
Gold prices are likely to trade lower today as US dollar gained further momentum after the Trump administration warned of additional 10 percent tariffs on an extra $200 billion worth of Chinese imports.
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