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Trading strategies for copper and natural gas by Tradebulls Securities
Gold prices saw a sharp movement after US CPI rose 0.9 per cent in June. The prices, however, are still struggling despite hotter-than-expected inflation data as rising inflation could force the Federal Reserve to tighten interest rates sooner than expected. So we are expecting limited upside despite inflation running higher and not looking transitory. Gold is struggling to sustain above $1812 and what is surprising is that there are plenty of tailwinds for gold to push prices higher.
During the previous week, we saw real interest rates drop below -1 per cent for the first time since April. China, last Friday, cut interest rates and lowered reserve requirements for banks, unleashing around 1 trillion yuan back into the economy. Despite all this positive news, gold is lackluster after climbing to $1800. With the US treasury yields dropping at 1.3 per cent, Gold should easily be trading above $1850. 47,500 is the
Gold prices saw a sharp movement after US CPI rose 0.9 per cent in June. The prices, however, are still struggling despite hotter-than-expected inflation data as rising inflation could force the Federal Reserve to tighten interest rates sooner than expected. So we are expecting limited upside despite inflation running higher and not looking transitory. Gold is struggling to sustain above $1812 and what is surprising is that there are plenty of tailwinds for gold to push prices higher. During the previous week, we saw real interest rates drop below -1 per cent for the first time since April. China, last Friday, cut interest rates and lowered reserve requirements for banks, unleashing around 1 trillion yuan back into the economy. Despite all this positive news, gold is lackluster after climbing to $1800. With the US treasury yields dropping at 1.3 per cent, Gold should easily be trading above $1850. 47,500 is the support that is appearing to be saving grace for bulls while 48,100-48,