Research

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Daily Resources Overview

 

Gold and silver prices are nearsteady in early-afternoon U.S. trading Wednesday and have traded both sides ofunchanged today. Buying interest in both metals was limited by a higher U.S. dollarindex today, as well as firmer U.S. stock indexes that hit two-monthhighs. However, the sellers remain timid due to the near-term bullish technicalpostures for both gold and silver. April goldfutures were last up $0.70 an ounce at $1,314.70. March Comexsilver was last down $0.035 at $15.655 an ounce.

The key economic data point of the day Wednesdaywas the U.S. consumer price index report for January,which came in at unchanged from December and up 1.6%, year-on-year. Theconsensus forecasts were up 0.1% from December and up 1.5% from January of2018. The report again showed tame inflation.

The U.K. inflation rate in January was todayreported up 1.8%, year-on-year. An important theme in the world marketplacethe past few months has been tamped down inflationary pressures. At mid-year in2018 many market watchers were worried about problematic inflation arising.

Risk appetite in the marketplace this week remainskeener, what with no major geopolitical events in play at present.

Focus of the marketplace this week is on U.S.-Chinahigh-level trade talks taking place in Beijing.U.S. Treasury Secretary Mnuchin and U.S. Trade Representative Lighthizer areattending the talks, with them participating late this week. Reports today saidChina President Xi Jinping may meet with the U.S. delegation on Friday, as ashow of good will. Many traders and investors are upbeat that a deal can bereached by the March 1 deadline. President Trump said on Wednesday he couldextend that deadline a bit if the talks were progressing well.


 
14/02/2019 9:00:00 AM

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