Yellow metal anxious for the US Q1 GDP print   

26 April 2019 ( Lagos ) :Gold traders aren’t allowing prices to fall too far below its year-to-date $1,280 support level for now, as concerns over the global slowdown continue to hang over markets. Economic data out of Germany and South Korea this week point to soft patches in the global landscape, which may keep demand for Bullion resilient as the year progresses.

However, should the US Q1 GDP print, due to be released on Friday, exceed market expectations, that could propel the US Dollar to higher levels, preventing Gold from climbing meaningfully back above $1,280. A US economy that’s seen to be on solid footing could also encourage risk appetite, potentially leading Gold back on the path towards $1,260.

Source : Lukman Otunuga, FXTM Research Analyst

Reporting for EasyKobo on Thursday , 26 April 2019 in Lagos, Nigeria

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