Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.
Daily Resources Overview
Gold prices are moderatelyup and trading at their session highs in early-afternoon U.S. trading, and justbefore the futures markets closes. Some perceived bargain hunting, a weakerU.S. stock market today, and some chart-based buying are all working to liftthe yellow metal.
Aftersome healthy consolidation, gold could be ready to move higher next week as allthe attention shifts to avoiding another U.S. government shutdown (deadline 15February) and U.S. macro data including the Fed response.
If there is no deal and another shutdown istriggered, gold could see a sharp rally, said RJO Futures senior marketstrategist Phillip Streible. “When the U.S. government shut down the last time,gold futures shot up on December 24th and made new highs. I would expectanother sharp rally on news of U.S. government shutdown,” Streible noted.