Research

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Daily Resources Overview

 

Gold is trading near steady,while silver prices are just a bit firmer in early-afternoon U.S. tradingWednesday. It’s been a quieter trading session. Rallies in the U.S. stockindexes to new for-the-move highs today was a negative for the safe-havenmetals, but selling interest was tempered by a drop in the U.S. dollar index.June gold futures were last down $0.10 an ounce at $1,295.30. May Comex silverwas last up $0.039 at $15.10 an ounce.

The U.S. economic highlightso far this week saw the ADP national employment report for March with again of 129,000 jobs, which was a significant downside miss. The payrollsnumber was forecast to be up 173,000. This report is a precursor to the moreimportant jobs report from the Labour Department that is due out Fridaymorning. The non-farm payrolls number in that report is forecast to be up175,000 in March, with the unemployment rate expected to remain at 3.8%.

So far this week, tradersand investors have elevated risk appetites to boost world stock markets, due inpart to optimism the U.S. and China will soon reach a trade deal. Talkson the matter take place in Washington, D.C. beginning today.

On the Brexit front, U.K.’sParliament and Prime Minister Theresa May cannot come to agreement on a “soft”exit, with May wanting to extend the deadline for a “hard” exit. This matterhas so far been a back-burner issue for most world markets.

The other key outside markettoday sees Nymex crude oil prices weaker on mild profit taking after hitting a4.5-month high of $62.99 earlier today.


 
4/04/2019 9:00:00 AM

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