According to Sushil Finance, Gold extended its rally to a three- month high on Friday, leaping toward its biggest one- year rise in seven years.
Sushil Finance's report on Gold
Gold extended its rally to a three - month high on Friday, leaping toward its biggest one - year rise in seven years as a wilting U.S. dollar, political tensions and receding concerns over the impact of U.S. interest rate hikes fed into its rally. Gold's gain s coincide with the greenback, in which gold is priced, sliding toward its worst year since 2003, damaged by tensions over North Korea, the Russian scandal surrounding U.S. President Donald Trump's election campaign, and persistently low U.S. inflation.Outlook
We expect gold prices to trade sideways on the back of profit booking after rise in prices.
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