Otmane El Rhazi from
The Bullion Desk.
- The gold price has been moving around $1,200 per ounce this week.
- The precious metal has been under pressure from the stronger dollar which remains the main focus of the market.
- Last Friday’s US non-farm payrolls data – an increase of just 126,000 jobs in March and well below the forecast – initially pushed the dollar lower. But the US currency has since recovered and today the dollar index has touched its highest in around three weeks.
- The forecast-beating data from China this morning has provided some cheer -the country’s CPI was better than expected. And while the PPI remains in negative territory, there was an improvement from the previous reading.
|
The post GOLD WEBCAST – Gold fluctuates around $1,200/oz, surging dollar weighs appeared first on The Bullion Desk.
No comments:
Post a Comment