• +1 (312) 549-9986

Gold $3,326.92 $21.59 0.65% Silver $32.55 $0.1 0.32% Platinum $986.73 $3.89 0.4% Palladium $977.97 $11.57 1.2%

Zaner Daily Precious Metals Commentary

Zaner Daily Precious Metals Commentary

While a Chinese interest rate cut is a supportive development for gold it is not enough to offset an extension of bearish outside market influences flowing from a higher dollar and rising US interest rates.
 
Despite short-term technical indicators like RSI and stochastics being oversold, the downtrend in gold looks entrenched.
 
In retrospect, the Federal Reserve meeting minutes combined with a recent hot US retail sales reading has fostered fear of even higher rates for longer, which is beginning to replace hope of a September pause...[MORE]
 
Please subscribe to receive the full report via email by clicking here.
Leave your comment