Trade Recommendation 14th Jun

Timestamp (GMT)
14th Jun 14:51 £34.39g
Direction
Hold
Target Price / Range
£33.91g - £34.67g
Timeframe
17-21st Jun

These trade recommendations are brought to you by CPM Group.

Due to market conditions, the views and positions of trade recommendations can quickly change. We strongly advise you to monitor our published trade recommendations on an ongoing basis.

Gold prices have risen sharply in recent days amid increased political tension in the Middle East, weaker than expected economic data for China, and uncertainty regarding potential actions and statements at next week’s Federal Reserve Open Market Committee meeting. Oil prices have not reacted much to Middle East tensions, but gold may have. Gold’s rise may have more to do with an increasing expectation of the Fed lowering rates this year than petroleum market and Middle Eastern political issues. Global economic data appears to show signs of weakness, but so far data for the U.S. remains firm. U.S. industrial production rebounded in May as did U.S. retail sales. We would stand aside until the FOMC has spoken.