Gold prices likely to trade negative: Sushil Finance

Written By Unknown on Jumat, 26 Desember 2014 | 16.03

According to Sushil Finance, gold prices are likely to trade on negative note on the back of US interest rate outlook.

Sushil Finance's report on bullion

Gold

Gold fell near a three-week low on Wednesday as the latest piece of strong U.S. economic data fed the view that the Federal Reserve may bring forward the timing of a hike in U.S. interest rates.

U.S. Labor Department data showed initial claims for state unemployment benefits dropped for the fourth straight week. A day earlier, the Commerce Department said the U.S. economy grew in the third quarter at its quickest pace in 11 years.

Outlook

We expect gold prices are likely to trade on negative note on the back of US interest rate outlook.

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