MTECHTIPS;-Gold prices to trade lower today

MTECHTIPS-On Tuesday, spot gold prices declined 0.65 percent to close at $1214.3 per ounce as the dollar rallied after comments from U.S. Federal Reserve Vice Chair Richard Clarida bolstered expectations that the central bank would continue raising interest rates. In a separate interview, St. Louis Fed President James Bullard said the central bank may face a year of difficult decisions, with rates still low by historic standards but growth ebbing. On the MCX, gold prices declined 0.47 percent to close at Rs.30402 per 10 gms. The possibility of rate hikes by the US fed and the stronger dollar index are factors exerting downside pressure on the yellow metal. ON the MCX, gold prices are expected to trade lower today, international markets are trading flat at $1214 per ounce

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