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