With the significant jump in the US dollar at the end of last week, a new high in the dollar this morning, a slight rise in US interest rates, and softer-than-expected Chinese new loan data last week, the commodity markets are facing signs of slowing instead of signs of out-of-control inflation.
Fortunately for the bull camp, the recent correction in gold prices prompted fresh buying interest in India after seeing those buyers back off with prices above $2,020.
Unfortunately for the bull camp, soft US scheduled data, strength in the dollar and global economic slowing fears leaves global gold demand expectations disappointing and leave the bear camp with an edge with respect to demand fundamentals...[MORE]
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