Gold prices have eased below USD $1300oz this week, despite the tensions in Ukraine, Iraq, Syria and Gaza. Going into next week its hard to be anything more...
Gold prices have eased below USD $1300oz this week, despite the tensions in Ukraine, Iraq, Syria and Gaza. Going into next week its hard to be anything more than at best neutral on prices, with bears looking in control The Futures market had clearly gotten ahead of itself a week or so ago, though we can expect some of that froth to have dissipated in the past fortnight. ETF holdings have stabilised this year and we've even seen some inflows of late, with early July marking the largest increase in years. Key moving averages should prove somewhat supportive, with the 200DMA at USD $1285oz critical Finally, there's Asian physical demand, which has been weak lately (relative to the record levels of 2013), but should step up with the market below USD $1300 There's also a packed calendar including Q2 GDP, the FOMC and payrolls. Makes for an interesting 5 days coming up. (VIEW LINK)
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