Gold And Silver - Daily Outlook May 25
By Lior Cohen:
Precious metals bounced back from their tumble in recent days. Other commodities including oil also rallied during Thursday's trading. U.S jobless claims nearly didn't change and core durable goods report presented a mixed trend and little movement. The speculation around the future of Greece keeps eclipsing other events and news items. I have analyzed how a Grexit might affect bullion.
On today's agenda: U.S Consumer Sentiment, and German Consumer Climate Survey.
Gold bounced back and rose on Thursday by 0.74% to $1,559.8; silver also increased by 2.32% to $28.16. This increase in metals rates was the first for the week. Today's publications may affect bullion and consequently SPDR Gold Trust (GLD). Despite the rise in gold price, during yesterday's trading GLD edged down by 0.138%. As I will present herein I speculate this direction will continue during today's trading.The chart below shows the normalized rates of metals during monthComplete Story »