Sushil Finance expects gold, silver prices to trade negative, plans to raise U.S. interest rates sooner than expected and expectations for a stronger U.S. currency in the longer run likely to keep Bullion market under pressure.
Gold rose on Monday after weak Chinese factory data, but the precious metal hovered just above an eight-month low as investors worried that the Federal Reserve may start hinting at plans to raise U.S. interest rates sooner than expected.
Silver prices followed gold prices. It was slightly up at the end of the day. Better than expected US economic data has failed to support prices. Investors will watch the Federal Open Market Committee (FOMC) as it starts a two-day policy meeting on Tuesday.