Gold prices are likely to remain negative after the tensions eases between Ukraine and Russia as Russia takes a step back. The Obama administrations plans to impose punitive economic sanctions on Russia but US is facing opposition from Europe and its Congress allies. Imposing sanctions could create further tensions as Europe is the largest consumer of Russia’s fuel. U.S. Secretary of State to meet with Ukrainian authorities to provide strong support for Ukrainian sovereignty, independence, territorial integrity, and the right of the Ukrainian people to determine their own future, without outside interference or provocation. If situation become normal, we expect gold silver prices to trade negative during intraday. Other than geo-political tensions, investors would watch data on U.S. private sector employment and service sector growth to gauge the strength of economic recovery and demand from Asia seems to be muted. Investors would be watchful of Yellen testimony scheduled to day.
Posted on: Wed, 07 May 2014 13:18:02 +0000
Trending Topics
Recently Viewed Topics
© 2015