Opinion with Peter Hug
Metals Firmer Ahead Of Inflation Data
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(Kitco News) - Gold is marginally higher and looks to consolidate awaiting fresh news. Yesterday’s bounce was interesting in view of a slightly stronger dollar, especially against the yen, but that may have been due to North Korea’s expressed anger against the new sanctions. It’s possible North Korea may prod the bear by firing missiles this weekend. The markets will be focused on inflation data this week, with producer prices due today, followed by consumer price data tomorrow. Inflation is expected to remain muted, which should create some momentum for the metals. Would look for gold to move to the $1,337 level today, with silver taking a look at the $18 print along the way.