© Dukascopy Bank SA
"It will be increasingly difficult for another hike in March, considering that China will continue to be weak."
- Phillip Futures (based on CNBC)
Pair's Outlook
Gold prices have swung between gains and losses since Tuesday, and on Friday they climbed from the 55-day SMA (1,077) to grow up to 1,088 by the end of US session. During the Asian trading on Monday the bulls are hoping to push it higher into the 1,095 area and, possibly, up to the current January high at 1,113 in the medium-term. Bank Holiday is the US should curb volatility on Monday, while many bullish catalysts in face of global market instability can be absent today. Still, supported by positive daily technical indicators the metal is capable of retaking 1,095 in the next 24 hours.
Traders' Sentiment
In the morning on January 18 around 55% of all SWFX traders are betting on the bullion's increase in price in the nearest future, down from 56% before the weekend.
© Dukascopy Bank SA