Gold outlook remains weak for the coming week; resistance seen at $1950-1980 region https://ift.tt/VpB0JfE closed the week with a nearly 2% loss as investors were concerned about the UK's elevated inflation, which is likely to prompt a more aggressive rate hike by the Bank of England amid slowing growth. The Euro-zone manufacturing PMI data fell to a three-year low due to high borrowing costs, while Germany's manufacturing PMI came in worse than expected. Although the US PMI data was somewhat better than its European counterparts, US yields fell on recession fears, thereby helping gold recover from its cyclical low. In the near term, the outlook for gold remains weak, though yields could be the main driver in the very short term.
Saturday, June 24, 2023
Home
Economic News
Gold outlook remains weak for the coming week; resistance seen at $1950-1980 region
Gold outlook remains weak for the coming week; resistance seen at $1950-1980 region
Subscribe to:
Post Comments (Atom)
-
Jeffersonville, OH - Join our 100% Owner Operator Fleet today! If you're tired of uncertain work, if fuel prices are killing your profit...
-
Rising Career Solution - Delhi - Walking interview & same day joining Urgent hiring for Credit Card Sales Vacancies- 300+ Payroll of Ind...
-
Genesis HealthCare - Florence, KY - Offering $2000 Sign On Bonuses for Full Time LPNs! Now Under New Leadership! Now offering OnShift! Acces...
No comments:
Post a Comment