Tuesday, April 25, 2017

As Western paper gold markets slam the price following French elections, demand elsewhere continues to boom

Despite the fact that the dollar has fallen nearly 200 bps since Emmanuel Macron won the first round of elections taking place in France, the price of gold and silver in the Western paper markets has been beaten down, even to the point of them falling back below their 200 day moving averages.  However, this has not slowed down the actual demand for physical gold worldwide as expectations of higher prices are still being forecast in locations like Asia, India, and the burgeoning markets of Dubai.

Dubai: Despite falling to its lowest level in weeks, gold might just continue to stick to its ground and move higher over the next few days, an industry source said.
Gold prices held their levels on Tuesday morning, after posting the biggest decline since March on the initial results of the French elections. 
As of 9.30am, 24K was retailing at Dh155.50 per gram in Dubai, slightly up from Monday’s afternoon trade and about Dh15 higher than in January 2017. 
For those who are awaiting further declines, however, it’s important to note that prices remained volatile and current trends suggest there is more room to move on the upside. 
Factors that could play in favour of gold include the polls in Germany and United Kingdom, as well as upcoming policies by US president Donald Trump. 
“Gold will continue to remain volatile with several global factors like US policies and upcoming German and UK  elections influencing the investment strategies of institutional investors,” Merchant told Gulf News. - Gulf News

1 comments:

The Bullion banks and their multi billionaire manipulators must be very happy
to suppress the futures paper market to enable them to buy in physical gold and silver at the depressed prices that they have conjured.
Brian

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