US equities remain under pressure - positive for gold

It is a data-heavy week, with ISM/PMI manufacturing indices for all major economies due for release. US employment data (ADP data on Wednesday and NFP data on Friday) could also keep the market nervous.

US equities remain under pressure, while US treasuries continue to rally (the 10y US treasury yield now stands at 2.50%, after touching 4% at the start of May). Both US equities and US bonds signal bearish sentiment towards especially the US economy. We note that the strength in US treasuries is supported by expectations of a possible bond purchases by the US Fed and
view these expectations of further monetary easing as positive for gold.

In the physical market, we continue to see gold buying, although it has slowed with the gold price above $1,230. With gold closer to $1,240 there also appear to be some gold scrap selling coming through.

Gold support is at $1,234 and $1,231. Resistance is at $1,239 and $1,247.


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Malaysia Gold Investment

I found Gold Investment in Malaysia is a vary good tools to make profit when the market is down. I also found that Gold Price go up and down more slower compare to share market so to make money in long term, Gold is the right tools. This blog is all about Malaysia Gold Info and the way to make profi

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