Asian Metals Market Update: June-01-2017

Factors which can affect markets
There are a lot of economic data releases today. There is even the US weekly crude oil inventory today. The next two days are make or break days for metals and energies. Either they rise or there will be a big crash.
In June the factors that I will be looking at are: (a) The impact of May nonfarm payrolls on US interest rate hikes for the rest of the year (b) UK elections. A bad performance by Ms. Theresa May can result in zooming of gold prices on safe haven demand and vice-versa. (c) The situation in Philippines should never be ignored due to its strategic location. If the war with ISIS in Philippines spreads to some geographical area in the nation, gold prices will be positively affected. (d) Direction of bitcoin will also affect gold prices.

This post was published at GoldSeek on 1 June 2017.