The gold market is quiet. While Eurozone inflation last week has once again confirmed that current inflationary pressures remain non-existent, the market will be focusing on CPI figures in the US later this week. Expectations are that inflation will remain subdued in the US for now.
However, we will also look at the US industrial production growth figures to see whether demand from the industrial sector is improving. Should growth figures show a marked improvement inflationary expectations may also climb faster.
Gold is finding very good resistance at $960. A break above this level could see the metal test $972. Support is at $952.
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