German industrial production was disappointing, whereas European Sentix investor confidence data was better than expected. consumer credit expansion is expected to come under pressure in the future." Praveen Singh – Associate V.P., Fundamental Currencies and Commodities, Sharekhan by BNP Paribas, said, "The U.S consumer credit expanded more than forecast in June, though outstanding revolving credit and credit card debt contracted, which shows that the U.S. that could offer more clarity on the Fed's policy stance and RBI policy meeting." Focus this week will be on inflation data from the U.S. However, the unemployment rate was reported 0.1% lower and average hourly earnings were also reported better than expectations, weighing on bullions. non-farm payroll data, which was reported at 187k against expectations of 200K last week. Bullions did receive some support from the U.S. On the other hand, John Williams, president of the Federal Reserve Bank of New York, expects that interest rates could begin to come down next year. Manav Modi, Analyst, Commodity and Currency, MOFSL, said, "Fed official Bowman, in remarks to an event in Atlanta largely reiterated comments from her previous speech that additional interest rate hikes would likely be needed to rein in inflation. Gold price slipped at the start of this week because of hawkish comments from a few Fed officials supporting an up-move in the dollar index and U.S. So we can see good upside in gold and silver in the next 3-4 months," said Khare. "The current price is the best for investors to invest in gold and silver.
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