Angel Commodities' report on gold
On Wednesday, spot gold prices declined by 0.82 percent to close at $1271.4 per ounce down for a second day on Tuesday after better - than - expected U.S. economic data and easing tensions over North Korea encouraged investors to buy riskier assets, boosting stocks, the U.S. dollar and bond yields. But fears of conflict eased when North Korean leader Kim Jong Un on Tuesday signalled he would delay a decision on firing missiles towards Guam, a U.S. territory in the Pacific. Gold's fall accelerated after strong U.S. retail sales in July and strength in an index of business conditions in New York state suggested strong economic growth. On the MCX, gold prices declined by 0.3 percent on Monday to close at Rs.29150 per 10 gms.
Outlook
On the MCX, gold prices are expected to trade lower today, international markets are trading marginally higher by 0.15 percent at $1273.3 per ounce.For all commodities report, click here
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