Expect Gold to trade positive: Sushil Finance

Sushil Finance's report on Gold

Gold prices fell on Monday as a recovery in the U.S. dollar and rising government bond yields prompted investors to cash in bullion after its sixth weekly price rise in seven weeks. U.S Treasury yields hit multiyear highs on expectations that central banks around the world would reduce stimulus as economies improve. Higher yields on bonds make gold a less attractive investment because it pays no interest. Gold prices have benefited largely from a slide in the dollar index to three - year lows.  A rise in the currency on Monday after six straight weeks of losses pulled gold back. Rising bond yields helped underpin the greenback ahead of a week packed with U.S. data. It remains on track for its biggest monthly decline since March 2016, however. The currency ca me under pressure last week after Treasury Secretary  Steven Mnuchin indicated he was broadly supportive of a weak dollar,  although U.S. President Donald Trump later said he wanted to see  strength in the greenback. Traders now await U.S. employment data and the outcome of a Federal Reserve policy meeting this week and will watch for implications for U.S. interest rates.

Outlook
We expect gold prices to trade positive on the back of speculative buying. For all commodities report, click here

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