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Gold prices to trade sideways:

On Tuesday, spot gold prices closed flat at D1309.3 per ounce, but the precious metal touched 10 – month high levels of D1325.93/oz as the safe haven demand rose sharply after North Korea flew a missile over Japan. On Tuesday as well, gold prices gained support from weak dollar after the head of the European Central Bank (ECB) said that the euro zone’s economic recovery had taken hold at a meeting of central bankers.

Outlook

We expect gold prices to trade sideways today, international markets are trading higher by 0.3percent at D1313.2 per ounce.