Sushil Finance expects gold and silver prices to trade lower today. The 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 prices fell more than 1% to fresh eight-month lows on Wednesday in COMEX in the late trade as the dollar rallied and investors worried about forecasts that the U.S. Federal Reserve may be readying for faster pace of interest rate hikes than previously projected.

Silver was down more than 1% after Fed's stance of sooner than expected interest rate hike. For the end of next year, the Fed's median projection was 1.375%, compared to 1.125% in June, while the end-2016 projection moved up to 2.875% from 2.50%. For 2017, the median stood at 3.75%  the level officials see as neither stimulative nor restrictive."

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