Gold prices to trade higher today: Angel Commodities

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Angel Commodities’ report on Gold

On Wednesday, spot gold prices traded flat at $1333 per ounce but still remained up on Wednesday, as the U.S. dollar dipped versus the yen and share markets faltered after China retaliated against a U.S. move to slap tariffs on $50 billion worth of its imports. Beijing said after Chinese markets had closed that it would impose additional tariffs on $50 billion worth of U.S. imports ranging from cars, chemicals and corn to whisky and tobacco, initially raising trade – war jitters. On the MCX, gold prices rose 0.4 percent to close at Rs.30850 per 10 gms.

Outlook
Trade war continues to bring in a bout of uncertainty raising safe haven appeal for the yellow metal. MCX gold prices are expected to trade higher today, international markets are trading lower by 0.34 percent at $1328 per ouncemoneycontrol