Uncertainty Continues To Weigh On U.S. Dollar - FXTM
The U.S. dollar index is stabilizing Wednesday, afterfalling to a three-year low, but, Lukman Otunuga, research analyst at FXTM,questions whether this is the start of a new uptrend. “Heightened politicaluncertainty in Washington is likely to weigh heavily on the Dollar and may fuelthe downside,” he says. “Dollar bulls are clearly struggling to find freshinspiration from Fed hike expectations, and this is reflected in the currency’sbearish price action.” At the same time, Otunuga says that gold is maintainingits bullish momentum as prices consolidate. “A technical correction seems to bein process, with the next level of interest at $1325. If bulls are able to re-awakenbefore the $1325 level, the price could re-test $1340 and $1360, respectively,”he says.
By Neils Christensen of Kitco News; nchristensen@kitco.com
GoldIs 'Ignoring' Its Usual Headwinds - RBC's Gero
Wednesday January 17, 2018 09:32
Gold prices are on pause again amid a rebound in stocks, notes George Gero, managingdirector at RBC Wealth Management. “Gold [is] ignoring many usual headwinds,looking for next direction after possible looming government shutdown and othergeopolitical and political worries,” he says. Headline traders continue todominate the short-term metals market, the managing director adds. “Buyingdips, selling rallies continues as precious metals look forinflation.”
By Anna Golubova of Kitco News; agolubova@kitco.com
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