Factors which can affect markets
Gold and silver rose after the Federal Reserve chairman signaled a slower pace of interest rate hikes than expected. Yellen said that the Federal Reserve remains on track to both interest rate hikes and to begin shrinking its balance sheet before the end of next year. July and August US jobs numbers will be the key as cyclical factors due to the US summer season will come into play. At the end of the day the investment demand for gold (for the rest of the year) will be dependent on the pace of US interest rate hikes outlook. Geopolitics have failed to affect bullion. Indian demand of gold and silver will be very high this quarter only to fizzle out in the final quarter of the year.
US retail sale numbers tomorrow will be key.
This post was published at GoldSeek
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