ANALYSIS
NQ100 Finds Support from PPIApr 14
Gold is at the lowest level of the last 30 days
Rata hike expectations have a significant impact on international markets. Federal Reserve is expected to hike rates by 50 bps in May and European Central Bank President Lagarde indicate that they will hike rates before the year ends has led to weak performance in the precious metals group. In addition strong stance of US index also has a bearish impact on the precious metals. The commodity lost its 30-day earnings and if it breaks 1900 level downwards, we will follow 1886. On the other side, 1932 – 1946 resistance zone will be on our radar.
