While April gold is tracking in positive territory early today and has established a key pivot point around $2005, the onus is on the bull camp to prove the market can respect even number consolidation support at $2000.
Unfortunately for the bull camp, gold ETF holdings continue to slide with year-to-date outflows of 2.8% taking place in less than 50 days.
While Indian gold imports in January increased to $1.9 billion that is probably a function of the recovery in gold prices and not necessarily from increased volume...[MORE]
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While the magnitude of yesterday's US CPI upside surprise was not significant, the markets were clearly undermined by another US data point which appears to push back US rate cut timing.
Today the markets will have a pause from US inflation news with several Fed speeches potentially providing some fireworks.
However, the US dollar is sitting right on the spike-up highs from yesterday early today leaving the currency influence on gold and silver bearish...[MORE]
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