Gold prices to trade higher today: Angel Commodities

On Thursday, spot gold prices rose marginally by 0.01 per cent to close at $1237. 6 per ounce as Dollar edged higher. Depreciation in Dollar over concerns about declining U.S. Treasury yields supported the yellow metal prices. Investors are looking forward for FOMC gathering during their meeting on December 18 - 19, at which the Central bank is widely expected to raise the rates for the fourth time in 2018. On the MCX, gold prices rose by 0.78 percent to close at Rs.31089 per 10 g ms

Outlook

We expect gold prices to trade higher today as dollar weakens over declining US treasury yields. On the MCX, gold prices are expected to trade higher today; international markets are trading higher by 0.14 percent at $1245 .4 0 per ounce.

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Source: Moneycontrol