29 April 2019 : Concerns over the broader global economic slowdown will be allayed, should Europe’s Q1 GDP and China’s PMI both show signs of stabilizing when the respective datasets are announced on Tuesday. However, any fresh reminders of soft patches in the global economy following the disappointing data out of both Germany and South Korea last week should encourage some risk to be taken off the table, which should help the appeal of Gold in the near-term.
However, analysts view is that it might require a string of dismal economic indicators to bring Gold back above the psychological $1,300 mark and reverse the bearish trend seen in Bullion since late-March.
Source : Lukman Otunuga, FXTM Research Analyst
Reporting for EasyKobo on Monday , 29 April 2019 in Lagos, Nigeria