Good morning, traders. Welcome to our weekly preview of the macroeconomic calendar, with a focus on those data points that are most relevant for precious metals and Dollar markets.
Gold prices are starting the week on the back foot, although the yellow metal has recovered from the strongest selling in the early morning hours. The metal’s weakness is driven by a continued rise in risk appetite, with global equities markets rising today and enjoying the lessening of last week’s tension between the US and Iran.
Silver is trading at $18/oz again to start the week, and the benchmark 10-year treasury yield sits just below 1.85%. While investors and traders will be thankful for a busier slate of economic news (and the first week for Q4 earnings reporting,) there remains potential for headlines to drive markets again; in particular, eyes will be on Wednesday’s scheduled signing of a “phase one” trade agreement between the US and China.
Read more of the weekly gold price preview on the GoldPrice.org website HERE