Moneycontrol
Nov 13, 2017 02:03 PM IST | Source: Moneycontrol.com

Expect Gold to trade negative: Sushil Finance

According to Sushil Finance, expect gold prices to trade negative on the back of profit booking after up - move in prices.

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Sushil Finance's report on gold


Gold prices turned lower on Friday as U.S. Treasury bond yields rose, but losses were limited by weaker stock markets and the dollar, which fell due to uncertainty over U.S. tax reform. A rise in U.S. bond yields pressures gold by reducing the attractiveness of non - yielding bullion, while a weaker dollar makes bullion cheaper for holders of other currencies. The dollar was set for its first weekly fall in a month as disappointment  that a landmark U.S. tax overhaul may be delayed until 2019 put a brake on the currency's recent rally. Political or economic uncertainty often prompts investors to buy gold to protect their assets from declining yields, since gold is a non - yielding commodity.


Outlook
We expect gold prices to trade negative on the back of profit booking after up - move in prices.


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