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Gold Steady... Needs A Catalyst...Maybe French Elections

Commentaries & Views

(Kitco News) - Gold remains steady, as traders are reluctant to short the market ahead of this weekend’s first round of French elections. Physical buying has been prominent on the continent and in the Far East, as investors remain wary of geopolitical risks with North Korea but North American demand remains anemic. Would expect gold to trend firmer into the weekend, with volatility surfacing at the Asian open on Sunday night, as investors digest the outcome of the first round of France’s election. Without a surprise news bite today, gold should trade the $1,275 - $1,290 range. Silver support remains at $18.10, with a break above $18.35 suggesting a retest of the $18.55 resistance point.

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