11 August 2016

Gold Daily and Silver Weekly Charts - Late Day Selloff - Risk On But Stronger Dollar

Apparently the Street is looking for a good Retail Sales number tomorrow because it will include Amazon's 'Prime Day' promotion.

Gold and silver were hit by some selling later in the day on apparent dollar strength and a risk on attitude in the equities.

PPI and retail sales results tomorrow.

The Reserve Bank of NZ cut its key rate by 25 bp to 2%.

Singapore has cut the high end of its 2016 GDP forecast.

The Reserve Bank of Australia may be cutting its key rate to 1% over the next 12 months, and will be considering 'unconventional stimulus' to counteract a lagging economy.

Print on.

Have a pleasant evening.