Moneycontrol
Nov 13, 2017 04:14 PM IST | Source: Moneycontrol.com

Expect Gold to trade sideways: Sushil Finance

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

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Sushil Finance's report on gold


Gold was higher on Thursday as a weaker dollar pushed prices during the session to a three - week high for the second time in successive days, while palladium dipped but stayed close to 16 - year peak hit during the session. U.S. Senate Republicans' version of the tax bill will delay corporate rate  cuts by one year, and will not repeal the Affordable Care Act's individual  mandate, Republican Senate Finance Committee member Bill Cassidy said ahead of the plan's release. Data from the World Gold Council showing that gold demand slid in the last quarter to its lowest in eight years as jewelry buying fell and inflows into bullion - backed exchange - traded funds dried up.

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

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