Gold prices witness some profit taking as investors braced for a bevy of earnings from the world's largest corporations, while keeping a wary eye on U.S. bond yields as they approached peaks that had triggered ructions in the past. U.S. President Donald Trump said on Sunday the North Korean nuclear crisis was a long way from being resolved, striking a cautious note a day after the North pledged to end its nuclear tests. Yields on 10-year Treasuries finished last week at the highest since early 2014 and at 2.97 percent were again challenging the hugely important 3 percent barrier.
Precious Metal Outlook Precious metal prices are trading down in the morning session on stronger dollar and rising bond yields. We expect precious metals to remain supported at lower level on expectation og higher interest rates in future and firmer dollar. U.S. economic data releases will be monitored during the week importantly the US Q1 advance GDP release on Thursday.
Technical Outlook on Gold
Technical Outlook on Silver
Support 2 Gold Silver
30950 39500
Support 1
Last Price
Resistance 1
Resistance 2
31200 40000
31450 40495
31580 40850
31800 41900
Important Events For The Week Actual
Forecast
Previous
53.4 56.6 57.6 53.9 56.6 54.8
53.7 56.9 58.2 53.9 56.6 54.9
55.2 54.3 5.55M
55.6 54 5.54M
0.50% 0.70% 104.7 4 0.50% 126 625K 16
0.60% 0.80% 103.2 4 0.80% 127.7 618K 15
Events For Today 12:30pm 1:00pm 1:30pm 3:30pm 7:15pm 7:30pm
French Flash Manufacturing PMI French Flash Services PMI German Flash Manufacturing PMI German Flash Services PMI Eur Flash Manufacturing PMI Eur Flash Services PMI German Buba Monthly Report US Flash Manufacturing PMI US Flash Services PMI US Existing Home Sales 24-Apr
5:20am 10:30am 1:30pm 3:30pm 6:30pm 7:30pm
JPY SPPI y/y BOJ Core CPI y/y German Ifo Business Climate GBP CBI Industrial Order Expectations USD HPI m/m US CB Consumer Confidence US New Home Sales US Richmond Manufacturing Index
All Day 8:00pm
Italian Bank Holiday Crude Oil Inventories
11:30am 12:30pm 5:15pm 6:00pm
German GfK Consumer Climate Spanish Unemployment Rate EUR Minimum Bid Rate ECB Press Conference US Core Durable Goods Orders m/m US Durable Goods Orders m/m US Unemployment Claims US Goods Trade Balance USPrelim Wholesale Inventories m/m Natural Gas Storage
JPY Tokyo Core CPI y/y JPY Unemployment Rate JPY Prelim Industrial Production m/m JPY Retail Sales y/y BOJ Policy Rate Monetary Policy Statement BOJ Outlook Report French Flash GDP q/q French Consumer Spending m/m French Prelim CPI m/m Spanish Flash CPI y/y Spanish Flash GDP q/q German Unemployment Change
2:00pm All Day Tentative 6:00pm 7:30pm
GBP Prelim GDP q/q Eurogroup Meetings Italian 10-y Bond Auction US Advance GDP q/q Advance GDP Price Index q/q BOE Gov Carney Speaks USRevised UoM Consumer Sentiment US Revised UoM Inflation Expectations
0.30%
0.40%
2.00% 2.20%
1.83|1.3 2.90% 2.30%
98
97.8 2.70%
23rd April 2018
Narnolia Securities Ltd Market Research
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