Notable Excerpts from Reuters
"As I am relatively optimistic on the world, I'm tending to think that we are going to see some more positive macro surprises, which is potentially negative for gold in the short term," Standard Chartered Analyst Dan Smith said. "It is quite important that prices hold around USD 1300/ USD 1302, but we might come down a bit lower."
The dollar index inched above a five-week low on Monday against a basket of currencies but was lower against euro after euro zone consumer sentiment data showed improvement in July and investors positioned for a soft second-quarter U.S. economic growth report on Wednesday.
Investors are also waiting for the influential U.S. jobs reports for July due on Friday.
"If you see some more dovish comments from European Central Banks this week and stronger employment number in the United States, you'll get some strengthening in the dollar and Treasury Yields, which would be bad news for gold," Natixis analyst Nic Brown said.
The dollar index inched above a five-week low on Monday against a basket of currencies but was lower against euro after euro zone consumer sentiment data showed improvement in July and investors positioned for a soft second-quarter U.S. economic growth report on Wednesday.
Investors are also waiting for the influential U.S. jobs reports for July due on Friday.
"If you see some more dovish comments from European Central Banks this week and stronger employment number in the United States, you'll get some strengthening in the dollar and Treasury Yields, which would be bad news for gold," Natixis analyst Nic Brown said.
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