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Quiet Ahead Of Greek Talks, Chinese New Year And President’s Day

Yesterday’s softer U.S. retail sales data took some of the edge off a stronger dollar and lent some support to the metals. Germany surprised with higher than expected GDP numbers, which has created some lift in European equity markets. The story will continue to be focused on the Greek negotiations with the EU, which will come to some form of conclusion on Monday. We would suspect gold to hold the recent $1,218 - $1,232 range going into the weekend. Should a satisfactory resolution be agreed to, or at a minimum an extension of the current debt facility, and assuming the Ukraine cease fire holds, the metals may face some selling pressure next week.

By Peter Hug
Global Trading Director
Kitco Metals Inc

 

 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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