Asian Metals Market Update: July-25-2017
news.goldseek.com / By: Chintan Karnani, Insignia Consultants / 25 July 2017
Factors which can affect markets
Gold and silver need to break and trade over $1262 and $16.64 for another wave of rise. Sell off will be there if gold does not break $1262 and silver does not break $16.64. Trend after the FOMC statement will be the key. Cautious optimism for gold and silver despite the bullish technical. Crude oil seems to have formed a short term floor around $44 while copper seems to be in the race to outperform silver and zinc.
Any reduction in Trump related risk is the only key factor that can cause precious metals to move into a short term bearish phase. I still expect an October interest rate hike by the Federal Reserve. Whereas markets are factoring in a December interest rate hike. One needs to watch for Trump related news as US economy is on a strong footing. Mild slowdown in US economy (if any) will be cyclical due to advent of American summer driving season.
The post Asian Metals Market Update: July-25-2017 appeared first on Silver For The People.
Source: http://silveristhenew.com/2017/07/25/asian-metals-market-update-july-25-2017/
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