Gold prices to trade lower today: Angel Commodities

According to Angel Commodities, on Wednesday, spot gold prices declined 0.56 percent to close at $1251.6 per ounce as the U.S. dollar steadied and investors turned to other safe – haven assets amid expectations of more interest rate hikes by the U.S. Federal Reserve.

On Wednesday, spot gold prices declined 0.56 percent to close at $1251.6 per ounce as the U.S. dollar steadied and investors turned to other safe – haven assets amid expectations of more interest rate hikes by the U.S. Federal Reserve. The U.S. House of Representatives overwhelmingly passed a bill on Tuesday to tighten foreign investment rules, spurred by bipartisan concerns about Chinese bids to acquire sophisticated U.S. technology. On the MCX, gold prices rose 0.46 percent to close at Rs.30695 per barrel.