We just might see some consolidation due to lack of major news. There is no big news from the Korean peninsula. Economic data releases are not that exciting to cause a furor in the markets. The direction of the US dollar will be the key for metals and energies today.
Asian demand will also affect gold prices. Silver prices have fallen on a technical breakdown below key moving averages. Copper and industrial metals are tracking global equity markets for now. Industrial demand will be the key for copper prices till end June. Investment demand will be key to silver prices till end June. Ultimately fundamentals will dictate metals and energies.
US GDP numbers later in the week and next week’s nonfarm payrolls will affect gold as well as the US dollar.
This post was published at GoldSeek on 26 April 2017.
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