Expect Gold prices to trade positive : Sushil Finance

Sushil Finance's report on Gold GoldGold fell sharply to a 1-1/2-week low on Thursday, pressured by a U.S. Federal Reserve president's comments about potentially rethinking further rate hikes, triggering technical sell signals while shrugging off a rebound from 12-year lows in oil prices.St. Louis Federal Reserve President James Bullard said a continued decline in inflation expectations may change his outlook for further Fed rate hikes, though so far he feels the United States continues on a healthy track.Bullard's comments followed those by Chicago Fed President Charles Evans on Wednesday, when he said he was nervous about the potential effects of China's slowdown on the U.S. economy and about the possibility that inflation expectations may be slipping.The metal hit two-month highs at $1,112 last week as volatility in Chinese stocks battered appetite for risk, but trading has since been down for four out of five sessions.A retreat in the euro from earlier highs after dovish minutes from the European Central Bank's December meeting added to pressure on gold, while some investors looked to be cashing in some of the previous session's gains, dealers said.The world's largest gold-backed exchange-traded fund, New York-listed SPDR Gold Shares, reported a 2.4 tonne rise in its holdings on Wednesday, bringing its total inflow for the year to 11.7 tonnes.OutlookWe expect gold prices to trade positive on the back of China’s growth concerns.For all commodities report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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