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Nov 07, 2017 11:28 AM IST | Source:

Expect Gold to trade sideways: Sushil Finance

According to Sushil Finance, We expect gold prices to trade sideways on the back of short covering after drop in prices.

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Sushil Finance's report on Gold

Gold rose more than 1 percent on Monday, extending gains as geopolitical risks drove investors to safe - haven assets after the metal's third - straight weekly decline. Saudi Arabia's future king, Crown Prince Mohammed bin Salman,  tightened his grip on power through an anti - corruption purge by  arresting royals, ministers and investors including billionaire Alwaleed  bin Talal who is one of the kingdom's most prominent businessmen. Gold has drifted lower over recent weeks, pulling back 2.5 percent from its mid - October peak as expectations for a Fed interest rate increase were shored up by upbeat U.S. data. Bullion is highly sensitive to rising U.S. rates, as these increase the opportunity cost of holding non - yielding bullion while boosting the dollar, in which it is priced.


We expect gold prices to trade sideways on the back of short covering after drop in prices.

For all commodities report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.


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