Morning Snapshot: Gold starts the week under modest pressure

IMG Auteur
 
Published : June 19th, 2017
214 words - Reading time : less than a minute
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...

USAGOLD/Peter Grant/06-19-17

Gold is modestly lower to start the week, eking out a new 3-week low. The yellow metal is being weighed by a firmer dollar, and improved risk appetite that has lifted stocks.

Hawkish comments from NY Fed President Dudley, suggest that the Fed will continue on the tightening path. Despite recent soft data, Dudley said that “halting (the) tightening cycle would imperil the economy.”

Dudley believes that inflation will pick-up as the labor market continues to improve. However, the jobless rate hit a 16-year low in May at 4.3%. How much room for improvement is there really?

If Dudley’s comment are indicative of FedSpeak moving forward, it means they are trying to keep a September hike on the table. We’ll hear from Chicago Fed’s Evans this evening.

The U.S. economic calendar is empty today. In fact, this week is pretty quiet.

Brexit negotiations began today. In light of the recent political weakening of Theresa May, an event that was already fraught with uncertainty is now even more uncertain. This should help limit the downside in gold.

Additional underpinning for gold is found in the broad political and geopolitical uncertainty. With the Trump economic agenda foundering and the Fed proceeding with the removal of accommodations, the U.S. economy may be in considerable jeopardy.

Read the rest of the article at USA Gold
Data and Statistics for these countries : Georgia | All
Gold and Silver Prices for these countries : Georgia | All
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
A North Korean EMP Attack Can Create 90+ Fukushimas in the U.S.
12 DecThe Recusant1
Setting aside the sensationalist fearmongering of the article, the fact is that the NRC requires U.S. nuclear power plants to be able to shut down ...
Six Ways US Stocks Most Overvalued in History
12 DecThe Recusant
The problem with the current massive indebtedness of countries is that the central banks are now creating fantasy currency to accommodate the finan...
The Flat Earth Society Responded To A Tweet By Elon Musk: ‘Thanks F...
11 DecS W.-1
Thanks for letting me state my opinion! Your comment is insulting. Try as I might I am yet to find any scientific evidence of AGW or the e...
Peter Schiff Warns Of CRASH: ‘Everybody Is Going To Get Wiped Out!’
08 DecThe Recusant
"Schiff also said no one knows when this is going to happen for sure, only that it will happen." Peter has been warning of the next crash for years...
Meet The World’s Most Powerful Bitcoin Backers
07 Decsonora69
Why run a business or work for one when you can mine bitcoins for the price of the servers and electricity? The higher the price of bitcoin, the mo...
What Now?
04 DecDoom
Mathematically, doubling down is an amazingly powerful strategy...until it isn't. http://professorconfess.blogspot.com/2017/11/doubling-do...
The Flat Earth Society Responded To A Tweet By Elon Musk: ‘Thanks F...
03 DecS W.
I put the Flat Earthers in the same category as those who believe there is a God, a Heaven and a Hell.
Whipping-Post Politics
02 DecMr. Gnawbone1
I couldn't agree more, Keillor's dismissal was a bridge too far, but it is reflective of the fear, by Boards of Directors across the US, guiding ...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS