Expect Gold to trade positive: Sushil Finance

Sushil Finance's report on Gold

Gold prices hit a four - month peak on Monday as the U.S. dollar index slumped to its lowest in three years but some analysts said the greenback's slide could be short - lived as it was not driven by fundamentals. A weaker U.S. currency makes dollar - denominated assets such as gold cheaper for holders of other currencies, while higher rates could dent demand for non - interest - paying gold. Adding a touch of bullishness to gold was data from the U.S. Commodity Futures Trading Commission on Friday, which showed hedge funds and money managers raised their net long positions in COMEX gold and silver in the week to Jan. 9. Iran's president said on Sunday the United States had failed to undermine a nuclear deal between Tehran and major powers, and hailed the accord as a "long - lasting victory" for Iran, state television reported. U.S. President Donald Trump on Friday delivered an ultimatum to European signatories of the deal to fix the "terrible flaws" in the agreement with Iran, or the United States would pull out.

Outlook
We expect gold prices to trade positive on the back of speculative buying.
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