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Commodities Daily Report January 11, 2019

Precious Metals: Gold approaching the psychologically figure of $1.300/oz

Gold and Silver prices rose 0.60% during the European session, trading at $1.293/oz and $15.70/oz respectively amid more dovish Federal Reserve and progress on the US-China trade talks. The precious metals managed to recover from the yesterday’s losses of -1%, based on some profit taking after the Gold failed to reach the $1.300 level, and to some temporary strength in the US dollar.

Gold and Silver have been gaining momentum as the Federal Reserve is coming closely to the end of its interest rate hike plan amid the expected slowdown in the US and Global economies in 2019-2020 based on the consequences of the trade war, the rising market volatility and the negative psychology of the investors after the recent collapse of the global equity markets.

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Friday, 11 Jan, 2019 / 2:17

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