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Metals Well-Bid On Monday But FOMC Looms
The metals complex has started the week with a positive tone as both gold and silver see decent demand across the European open on Monday. With USD continuing to hold within the narrow block of consolidation which has formed recently, and with equities markets tanking, gold prices look likely to derive near term support. However, the main issue for metals traders this week will be the FOMC on Wednesday. The US Dollar has been far quieter this year with the greenback yet to see a resumption of the strong upward trend we saw across early Q4. With Fed tightening expectations so well developed and with USD upside ... (full story)
