Expect Gold to trade positive: Sushil Finance

Sushil Finance's report on Gold

Gold slipped on Tuesday from the previous day's four - month high, reflecting losses across the commodities complex as the U.S. dollar clawed back some losses the day after hitting a three - year low against a basket of currencies. Gold's move lower came after four consecutive days of gains due to the  greenback's retreat, which made dollar - priced gold cheaper for holders  of other currencies. In early trading, the dollar rose against the euro. On Monday the dollar hit its lowest against the single currency since late 2014. The greenback has weakened as markets have grown more confident that a global recovery would outpace U.S. growth. Stock market strength also weighed on gold, said George Gero, managing director of RBC Wealth Management. Equities continued to climb as the Dow Jones Industrial Average topped 26,000 for the first time. Gold remained relatively firm after three 2017 U.S. interest rate hikes, but further rate hikes could pressure gold prices by raising the opportunity cost of non - yielding bullion.

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