According to Angel Commodities , we expect gold prices to trade higher as internati onal markets are trading higher by around 0. 2 4 percent. While strengthening dollar index and profit booking at higher levels will cap the rally. Last week spot gold prices declined by 1.2 percent to close at $1273.2 per ounce .ounce on account of strengthening dollar and profit booking after a recent rally. The yen fell to a two week low against the dollar on speculation that the Bank of Japan could expand its monetary stimulus as soon as next month, he lping to lift the dollar index. On the MCX, gold prices declined by 1.1 percent to close at Rs.30034 per 10 gms last week. Outlook On an intraday basis,we expect gold prices to trade higher as internati onal markets are trading higher by around 0. 2 4 percent. While strengthening dollar index and profit booking at higher levels will cap the rally. Strong inflows in to the gold backed ETF 's indicate that investor interest in the yellow metal remains intact w hich will act as a positive factor for gold prices. On the MCX, gold prices are expected to trade higher today.
