as informed in Gold prices have risen over 4% in the last seven days as global equities slumped and risk aversion returned to markets.
Gold has consolidated on the gains of the last seven sessions today and prices are marginally higher just above $1,250 per ounce.
This could see stocks in the U.S. come under pressure and lead to renewed safe haven demand for gold.
Both have eked out further gains today with platinum at $968 and palladium rising 1.2% to $801 per ounce.
Platinum and palladium also made gains and were up 0.5 percent at $962.55 per ounce and 0.3 percent to $788.85 respectively.
Gold Prices ‘Challenged’ at $1250 Before Trump’s Obamacare Vote as Inflation Whacks UK Retail Sales
as declared in
Crude Oil Prices Pressure Key Support, Gold Snaps Win Streak
as declared in Chart created using TradingViewCRUDE OIL TECHNICAL ANALYSIS – Crude oil prices continue to push up against key support at 47.22 (50% Fibonacci retracement, rising trend line) but a confirmed break remains elusive.
GOLD TECHNICAL ANALYSIS – Gold prices put in a bearish Dark Cloud Cover candlestick pattern, hinting a turn lower may be ahead.
Gold prices snapped a six-day winning streak as US Treasury bond yields rose, tarnishing the appeal of non-interest-bearing assets.
Last week, the figures showed that the number of active oil extraction installations rose to the highest since September 2015.
The CFTC reportedthat large speculators cut long WTI crude oil futures bets by the most in at least 11 years last week.
collected by :Irax John