Gold was pretty benign as traders adopt a wait and see approach. Today sees CPI numbers and weekly jobless claims data being released, which may give speculators further insight in to the state of the US economy. Once again we failed to break out of the recent range, so it will be interesting to note the next move.

gold_18_3_10

Gold & Silver

Commodity

Level

Change

GOLD

$1,122.80

+$0.40

SILVER

$17.41

-$0.07

Market News

  • The Euro pulled back following reports that the Greeks are not hopeful of receiving aid from the other Eurozone members. The EU summit is scheduled for March 25th
  • The EC have also called for a number of their members to detail how they plan to reduce their deficits.
  • Sterling got a lift as the jobless claims came in at better than expected levels and the release of Bank of England minutes showed a unanimous vote to keep rates unchanged
  • The original three month lending facility programme in Japan is scheduled to expire soon, and they will now double the facility and further loosed their policy stance

Major Economic News

TIME

MARKET DATA

1230

US CPI and WEEKLY JOBLESS FIGURES