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Precious Metals Market Commentary - 15 March 2018

17 May 2018

USD Gold Bloomberg Chart - 15 March 2018
  • With US consumption data was below expectation, gold price has consolidated at above USD1,320/oz level overnight.
  • Gold has been trading at around USD1,328/oz level most of the time this morning in Asia time zone.
  • It has remained unchanged in the physical holding (to 26.805m toz) of SPDR Gold ETF, the largest physical gold ETF in the world, overnight
  • Traders are waiting for the FOMC interest rate decision and Fed Chair Powell’s news conference that is scheduled on next Thursday, which could give a hint of the next movement of gold price.
XAUUSD Intraday Candle Chart - 15 March 2018