Jan 02, 2018 12:25 PM IST | Source:

Expect Gold to trade sideways: Sushil Finance

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.

We expect gold prices to trade sideways on the back of profit booking after rise in prices.

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