Gold prices to trade higher today: Angel Commodities - 29 Aug 2018


According to Angel Commodities,We expect gold prices to trade higher today as gold prices broke the crucial $1200 mark.

Sources on report on Gold

On Tuesday, spot gold prices declined after marking its highest single day gain on Monday , with the U.S. dollar easing on comments from  the Federal Reserve chairman  in support of a gradual approach to  raising rates. Fed chair Jerome Powell on Friday defended the U.S. central bank's push to raise interest rates as healthy for the economy and signaled more hikes were coming despite President Donald Trump's criticism of higher borrowing costs. On the MCX, gold prices rose 0.07 percent to close at Rs.30024 per 10 gms.


We expect gold prices to trade higher today as gold prices broke the crucial $1200 mark. Moreover, a rise in activity in gold options amid geopolitical tensions and a record - long bull market for U.S. equities suggests that investors are betting gold prices have found a floor. On the MCX, gold prices are expected to trade higher today, international markets are trading higher  marginally by 0.2 percent to  t rade at $1204 per ounce.

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  2. Gold trend is consolidate today. I like your research report Keep posting MCX Tips

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