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Gold Rallying Ahead Of US PMIs & Powell

From tickmill.com

Gold prices continue to soar this week with the futures market pushing higher into record territory. The push comes despite some hawkish commentary from the Fed yesterday with some members heard voicing concern over inflationary risks and urging the Fed to show caution with any furtehr easing. Indeed, some members argue that no further easing was needed this year at all. Traders now brace for Fed chairman Powell who speaks later today, preceded by the release of the latest US PMI data. Both services and manufacturing data are forecast to have cooled slightly, though still seen in positive territory. If a decline is ... (full story)

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  • Category: Technical Analysis