Gold Prices Threaten Upside Breakout, Fed Commentary in Focus

Gold prices edged higher as the US Dollar retreated while the yield curve flattened after April’s US labor market data crossed the wires. It put the pace of wage of inflation at 2.6 percent on-year, undershooting consensus forecasts. This poured a bit of cold water on worries about an aggressive Fed tightening cycle on the horizon, boosting the relative appeal of non-interest-bearing and anti-fiat assets.
Crude oil prices likewise advanced, rising alongside the bellwether S&P 500 stock index as moderation in the Fed policy outlook translated into brightening risk appetite. The greenback’s backslide from intraday highs also helped. Oil is denominated in terms of the benchmark currency on global markets, so weakness there offered a degree of de-facto support. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774