Many technical analysts expect that the gold prices will trade lower as a selection of a hawk as the next Fed chair has become more likely after the list came down to Powell and Taylor. This factor would boost DX further that will exert the pressure on the precious metal. The gold prices are expected to lower today on the MCX, international markets are trading 0.1 percent higher at $ 1271 per oz. Last week, spot and MCX gold prices are trading lower by around 1 percent as the dollar gained sharply after the ECB press conference.
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