Gold may continue to witness choppy trade with key focus on the key USD 1800/oz level however the general bias may be on the upside unless we see a significant improvement in risk sentiment.
This impacts only those brokers whose traders hold long positions. To gauge the extent of the problem, around 11,000 contracts remained open at the end of the day. Market sources pegged the loss for all long positions around Rs 418 crore
According to Sushil Finance, gold and silver prices are expected likely to trade negative on the back of US interest rate outlook.