It will be either boom or bust for gold, silver and crude oil in the next one week. By next Friday either bulls or bears will rest in peace. There will be nothing in between. Short term key technical supports need to be upheld to test medium term resistances. Key supports for gold, silver and crude oil are $1262, $1698 and $44.30 they need to trade over these prices to continue their bullish zone.
UK elections are over. It is impact can be felt till Monday. There after traders will position themselves for FOMC meet. A hung UK parliament can result in postponement of interest rate hike by the Federal Reserve as they will prefer to reduce currency market volatility.
Ousted FBI chief James Comey and President Donald Trump accused each other of lying about their private encounters in the wake of dramatic Senate testimony that centered on whether the president sought to quash part of a federal probe into Russian meddling in the 2016 election.
This post was published at GoldSeek on 9 June 2017.
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