In Commodity News 27/05/2015
Gold is continuing to range quietly between $1215 and $1200, but Jameel Ahmad, Chief Market Analyst at ForexTime (FXTM), is expecting volatility in the metal to increase later in the week with some higher-risk US economic data released over the upcoming days.
Janet Yellen repeating the Federal Reserve’s ongoing commitment to raising US interest rates at some point this year has underpinned bearish pressure on the metal, but Gold bulls can still exploit any indications that the Federal Reserve will maintain a hesitant and cautious stance towards raising rates.
Fragilities in the US economy are being frequently exposed, and if Tuesday’s Durable Goods and Consumer Confidence concerns investors, interest rate expectations will be at risk and interest in Gold will likely return as a result, Jameel Ahmad said.
