Gold prices at 5 year highs on MCX: Angel Broking
“Gold the charming asset has its own share of fancy for investors in 2019 as factors ranging from the US-China trade uncertainty, uncertain outlook that has left the Federal Reserve wary about more interest rate hikes this year, and investors moving out of dollar longs are near term push factors for rise in gold prices in the international markets.
On the MCX, gold futures are trading at 5 year highs, thanks to depreciating rupee combined with rising international gold prices. We expect the momentum to continue on the MCX towards Rs.34300/10 gms. (CMP: 33900/10gms)”