Gold prices have been trading near its highest level from last six months, with investor-focused global political tensions undervalued and US data converters reducing speculation that the Fed will go to interest increase in June. US State Department official stated that the option of military intervention continues to be one of the important options against North Korea. But noted that China has given promising signs that will pressure the regime to Kim Jong Un to end its nuclear weapons program.Housing and New York manufacturing industry data released yesterday in the US lowered the likelihood of the Fed going to raise interest rates.
Today, traders are beginning to follow the European market and the data flow is accelerating in the rest of the week. In addition to data on housing on the US side, the Philly Fed manufacturing index and the speech of Treasury Secretary Munich and Fed Kashkari are on the agenda. After weakening employment and consumer inflation, we may be entering a period of increased sensitivity to US data for the markets. The band 1290-1300 came to the gold market and started the day with correction today. 1286 USD in the day can not be broken in the direction of gold 1275 and 1270 USD can be attracted to support. The 1295-1300 band continues to be a resistance zone.
- Date: 18 April 2017 Tue 08:03
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