The key headline is early UK snap polls in June. There will be big moves in the UK Pound and gold either a fortnight before or a fortnight after the UK election results are declared. The UK elections result will have a big impact on the medium term trend of precious metals as well as the US dollar. The period between 23rd May till 23rd June will be very crucial for gold bulls as well as cable bulls. I expect short covering in the cable before the UK elections.
France’s Sunday referendum will have an impact if and only if Le Pen wins majority. It is basically elections in Europe which will have an impact on bullion as well as the US dollar.
This post was published at GoldSeek on 19 April 2017.
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