Fundamental view: Gold fell in the last week as optimism among investors developed for the greenback as it started gaining strength. Improved productivity thanks to telework turns to be a bad news for gold Looking ahead, it remains to be seen if Chairman Jerome Powell and Co. will reveal anything new at the Kansas City Fed’s Economic Symposium [...]
Fundamental view: Gold fell in the last week as optimism among investors developed for the greenback. Positive economic data out of the United States put pressure on the instrument last week. The two biggest unknowns for next week is the U.S. fiscal package, which is still nowhere close to being passed, and the U.S.-China trade [...]
Fundamental view: This week the gold price had been climbing. This week the PMI numbers also impressed, on Monday the ISM Manufacturing PMI for July came in at 54.2 vs expectations of 53.6. Then later on in the week, ISM Non-Manufacturing PMI for the same month beat consensus estimates of 55.0 and hit 58.1. Obviously things are not [...]
Fundamental view: In the last week, Increased tensions between US and China, Historic EU deal supported gold. Fed's open door to doing more implies further dollar weakness. Number of new Covid-19 cases weakens dollar and Gold saw the benefit from that. U.S. data showed the deepest economic contraction leading to a bullish move. We expect the [...]
