On Monday, Gold slightly increased as the dollar continued to depreciate. The metal is expected to continue upwards as the market continues to push the Dollar down based on changed expectations for the timing of the interest rate hike. However, traders should note that the U.S stocks market has been performing well and therefore, traders could close their positions and move to riskier assets.
Today, at 12.30PM (GMT) the U.S. Costumer Price Index will be released and will show how inflation progressed in the U.S.; Last month the CPI dropped by 0.7% but is now expected to increase by 0.2%. Any figure below could pull the price above $1,200/ounce. The movement is slightly bullish. Support is found at 1,142.0 and resistance at 1,192.0.
March 24, 2015 – Commodities News
Gold
On Monday, Gold slightly increased as the dollar continued to depreciate. The metal is expected to continue upwards as the market continues to push the Dollar down based on changed expectations for the timing of the interest rate hike. However, traders should note that the U.S stocks market has been performing well and therefore, traders could close their positions and move to riskier assets.
Today, at 12.30PM (GMT) the U.S. Costumer Price Index will be released and will show how inflation progressed in the U.S.; Last month the CPI dropped by 0.7% but is now expected to increase by 0.2%. Any figure below could pull the price above $1,200/ounce. The movement is slightly bullish. Support is found at 1,142.0 and resistance at 1,192.0.
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