On Monday, spot gold prices declined marginally by 0.04 percent to close at $1 282.2. Gold prices head towards first yea rly fall in three years, losing its gains to a stronger dollar buoyed by trade tensions and rising interest rates by the U.S. Federal Reserve. Spot prices have gained about 5 percent in December, the most since January 2017 supported by falling equities in the global markets which weighed on the economic outlook. On the MCX, gold prices rose 0.1 percent to close at Rs.31422.0 per 10 gms.
Outlook
International markets trading higher by 0.27 percent at $1284.65 per ounce. We expect gold prices to trade lower today as global equities rise over gains in US stock futures which shows improving risk appetite amongst investors. On the MCX, gold prices are expected to trade flat.
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