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Gold stabilized above 1300 levels

2018-06-07 08:57 am | Resource: NEWS | No Views : 94



Gold is trading sideways and stabilized above $ 1,300 high during early European trading on Monday, as concern over the trade war remains, plus a significant drop in the Dollar Index

Market participants are watching the G7 summit later this week and a North Korea-US summit is scheduled for next week.
 
As he eased concern over tensions with key US allies ahead of US President Donald Trump's visit to Canada, White House economic adviser Larry Kudlo confirmed on Wednesday that Trump would not back down from his tough line of trade.

Where investors are waiting to see whether the ECB will discuss exit from the QE at the next policy meeting on June 14.
 
As well as continued trade concerns after Mexico announced a 15 to 25 per cent charge on imports from the United States.

Trade concerns continued after the end of the US-China trade talks, with China warning Sunday that it would withdraw from the commitments it has made so far on trade if US President Donald Trump has threatened to impose tariffs on the Asian nation.

Gold prices rose by 0.05% to reach $ 1302 per ounce, after reaching a low of $ 1299 per ounce, which opened today's session at 1300. $ per ounce, reaching a high of $ 1303 per ounce.

Looking at the silver trades, it lost gains during the European session, with silver gaining 0.25% to $ 16.73. Silver opened today at $ 16.70 and hit a high of 16.75 and a low of $ 16.67 per ounce.


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OIL Technical analysis 20 August 2018

Time frame Used - four hours Oil is moving in a bearish direction in the near term The purchasing power managed to control the movement of oil to push prices to reach the resistance level of 66.30 as oil faces selling pressure on this level   In view of the technical indicators Both the RSI and Stochastic are indicating to weakness of the indicators Therefore, we expect that the oil…

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