Opinion with Peter Hug
Gold Steady... Needs A Catalyst...Maybe French Elections
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
(Kitco News) - Gold remains steady, as traders are reluctant to short the market ahead of this weekendâ€™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 Franceâ€™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.