The stronger US Dollar helped push the price of gold lower in trading, but we remain in a tight range, with $1,150 providing some support. There appears to be a two-way pull, with market bears pointing to ongoing concerns over the Greek fiscal situation, and market bulls pointing to positive economic data, and some better-than-expected corporate numbers.

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Gold & Silver

Commodity

Level

Change

GOLD

$1,152.30

-$5.81

SILVER

$18.27

-$0.17

Market News

  • Retail Sales figures in the US came in at 1.6%, beating market consensus of 1.2%. This, coupled with the impressive non farms, has given market bulls a genuine belief that the worst is over
  • Chinese economic growth moved to 11.9% in Q1 2010 underpinned by the governments stimulus package
  • The S&P 500 finished over the 1200 level for the first time in 19 months as equity markets rallied in response to positive economic data and strong corporate results
  • Leading think tanks in Germany forecast that the German economy will grow by 1.5% this year, and 1.4% during 2011

Major Economic News

TIME

MARKET DATA

1330

US WEEKLY JOBLESS CLAIMS