Otmane El Rhazi from
The Bullion Desk.
- The gold price has been fluctuating around the $1,200 on Friday afternoon, with a stronger dollar and a fading geopolitical premium weighing on sentiment.
- Gold was initially struggling to breach $1,200 for most of the week until news on Thursday that Saudi Arabia and several of its regional allies had initiated military action on rebel-held areas in Yemen, which saw the return of a geopolitical premium on t
- The effect now however is waning as we head into the weekend, with a close below $1,200 looking possible.
- Next week also sees a spate of metals-sensitive data, including manufacturing and inflation data, as well as the blockbuster non farm payroll report out of the US.
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