According to Sushil Finance, gold prices are likely to trade on negative note oon the back of US interest rate outlook.
Gold
Gold was little changed on Tuesday, paring earlier gains after strong U.S. growth data lifted the dollar, and was looking vulnerable to more losses as appetite for risk boosted equities.
The U.S. economy grew at a 5 percent clip in the third quarter, its quickest pace in 11 years and the strongest sign yet that growth has decisively shifted into higher gear.
Bullion found support in the physical markets, where bargain hunters in top consumer China emerged after the price drop on Monday. Prices on the Shanghai Gold Exchange rose to a premium of up to $5 an ounce over the global benchmark, compared with $2-$3 in the previous session.
Data from the International Monetary Fund showed that Russia raised its gold reserves for an eighth month in a row in November, while Ukraine reduced bullion holdings for a second straight month.
Outlook
We expect gold prices are likely to trade on negative note on the back of US interest rate outlook.
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