Research

Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.

Daily Resources Overview 27 April 2018

 
Gold and silver prices are weaker in early-afternoon U.S. trading Thursday. Gold
prices dropped to a five-week low, while silver hit a three-week bottom. Slight gains
seen at the start of North American trading were eroded by late-morning as the U.S.
dollar index pushed higher and hit another 3.5-month high. Gains in U.S. stock
indexes amid an improvement in investor risk appetite today also worked against the
safe-haven precious metals. June Comex gold futures were last down $4.60 an
ounce at $1,318.20. May Comex silver was last down $0.047 at $16.455 an ounce.
The other key “outside market” on Thursday afternoon sees Nymex crude oil prices
near steady and trading just above $68.00 a barrel. Oil bulls have the solid near-term
technical advantage, which is a bullish underlying element for the metals markets, as
well as other raw commodities. In an interview with MarketWatch, Rob Haworth said
“Ultimately rising real interest rates in the U.S. and a stronger U.S. dollar are placing
gold under pressure at month’s end. Should the stronger U.S. dollar trend be
sustained, especially by higher real U.S. interest rates or rising expectations of
additional Federal Reserve interest rate increases this year, gold prices may see
further pressure into May.” Source: Kitco.
 
27/04/2018 12:00:00 AM

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