Angel Commodities' report on Gold
On Thursday, Spot gold prices declined by 0.07 percent to close at $1285.5 per ounce. Gold prices recovered yesterday over change in the market sentiments but appreciating Dollar capped the gains.. Dovish stance by the ECB supported the U.S. Dollar Index which in turn limited the gains for the yellow metal. The ECB will hold back their monetary tightening until 2020. On the MCX, Gold prices declined by 0.42 percent to close at Rs.31948.0 per 10 gms. Silver On Thursday, Spot silver prices traded lower by 0.36 percent to close at $15.0 per ounce. On the MCX, silver prices declined by 0.30 percent to close at Rs.38612.0 per kg.
Outlook
Dovish stance by ECB led to a rally in Dollar in turn pressurizing the base metals. On the MCX, gold prices are expected to trade lower today; international markets are trading higher by 0.12 percent at $1287.65 per ounce.
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Read More First Published on Mar 8, 2019 11:49 am
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