One needs to be careful trading at current prices in gold as it has not been able to break past $1300 in the past. This time though any armed attack on North Korea ( if any) can result in gold easily breaking $1300 and nearing towards $1500. But at the moment one needs to be very careful despite all the bullish supportive political factors. US inflation numbers is the key. PPI and CPI numbers tomorrow will let investors guess the time period for the next interest rate hike. Any indication of an interest rate hike beyond December will result in another wave of short term rise for metals and energies and a knock down for US dollar.
This post was published at GoldSeek on 10 August 2017.
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