Moneycontrol
Nov 14, 2017 01:11 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 recouped some of the previous session's hefty losses on Monday as  the U.S. dollar steadied and uncertainty over a U.S. tax reform plan  stoked risk aversion, pulling equities from their recent record highs. Prices remained stuck in a narrow range, how ever, as investors awaited  more clues on the path of U.S. interest rates. While the increase in yields supported the dollar early on Monday, it  later pared gains. Stock markets also took a step down as uncertainty  over a U.S. tax reform deal pushed them fur ther away from recent  record highs. Gold is highly sensitive to rising U.S. interest rates, as these increase the  opportunity cost of holding non - yielding bullion, while boosting the  dollar, in which it is priced.

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

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