Till Wednesday it will be a technical trade for metals and energies as there are no big economic data from USA. Thereafter the CPI and PPI numbers if they rise at a fast pace can alter the interest rate hike expectations. Political news and political developments can cause a hara-kiri in metals as well as currency markets. The big answer which investors will be looking for is ‘has the US dollar bottomed out’. Every nation wants a weaker currency. Europeans will not be happy if their currency continues to gain. Comments and some mild downgrade of growth targets will be just enough to ensure that euro falls.
Rising global stock markets can give the much needed impetus to higher bullion prices.
This post was published at GoldSeek on 7 August 2017.
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