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MTECHTIPS;-GOLD
Gold edged higher on Wednesday, supported by strong physical demand after prices fell 1 percent
the previous day, but gains are likely to be limited by persistent outflows from exchange-traded
funds. Wall Street rallied on Tuesday after data showed that U.S. consumer confidence in May was the highest in more than 5 years, while home prices accelerated in March by the most in nearly seven years. Holdings in SPDR Gold Trust fell to 1012.25 tons. Outlook: With South Africa about to take unspecified interventions in its precious metals markets the supply expected to fall therefore we could see the rallying today as well.
WWW.MTECHTIPS.COM
07489294118-119
Gold edged higher on Wednesday, supported by strong physical demand after prices fell 1 percent
the previous day, but gains are likely to be limited by persistent outflows from exchange-traded
funds. Wall Street rallied on Tuesday after data showed that U.S. consumer confidence in May was the highest in more than 5 years, while home prices accelerated in March by the most in nearly seven years. Holdings in SPDR Gold Trust fell to 1012.25 tons. Outlook: With South Africa about to take unspecified interventions in its precious metals markets the supply expected to fall therefore we could see the rallying today as well.
WWW.MTECHTIPS.COM
07489294118-119
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