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Asian Metals Market Update: Apr-11-2017
news.goldseek.com / By: Chintan Karnani, Insignia Consultants / 11 April 2017
Traders and everyone are on the sidelines due to uncertainty over Trump’s policies. Unless something very serious happens in Syria, bullion will not zoom. Mass genocide is something which has been ignored by markets. Gold and silver are still on the way to test key resistances. I prefer to ignore interest rate moves by the Federal Reserve. There has been too much hype over the same over the past few years. The US economy is robust. Interest rates will be hiked. Gold bulls will be able to overcome interest rate hikes by the Federal Reserve and other central bankers. But it is difficult to project the pace of rise.
Physical demand and premiums on physical gold and silver in Asia (Hong Kong, Singapore, Mumbai and Dubai are the key centers) should determine the pace of rise of gold and silver. In the short term, demand will be volatile just as the prices. Price sentiment will determine demand for gold and silver. Intraday trading could be a nightmare.
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