The Finance Insider blog

Search This Blog

Blog Archive

The Finance Insider

Wednesday, May 1, 2013

Gold looks to shine as central banks meet.

 Gold may have had its worst month since December of 2011 in April (-7.8%), but the metal rose for the seventh time in nine sessions Tuesday and looks to remain strong for the remainder of the week, as investors expect the Fed and the ECB to stay the proverbial course in terms of accommodative monetary policy. Traders will be watching the Fed's tone as it wraps up its two-day policy meeting today and will keep a close eye on Mario Draghi tomorrow, as weak unemployment data and tame inflation in the eurozone have fed speculation of an ECB rate cut.

No comments:

Post a Comment