According to Angel Commodities,On Wednesday, spot gold prices rose by 0.2 percent to close at $ 1284.7 as slowdown in the global growth increased demand for safe haven assets.
Angel Commodities’ report on Gold
On Wednesday, spot gold prices rose by 0.2 percent to close at $ 1284.7 as slowdown in the global growth increased demand for safe haven assets. Weak manufacturing sector numbers published by Europe and China mounted concerns of a global economic slowdown pressurizing the stock markets which triggered demand for the yellow metal. However, uptrend in the Dollar Index capped the gains. On the MCX, gold prices rose 0.6 percent to close at Rs.31610 .0 per 10 gms.
Outlook
International markets trading higher by 0.44 percent at $1289.8 5 per ounce. Concerns over global economic slowdown might support the yellow metal prices. On the MCX, gold prices are expected to trade higher.
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