Gold traded higher yesterday, albeit those gains have been given back in early trade this morning. Whilst the dollar stayed relatively stable, it would appear that investors are remaining cautious ahead of tomorrow night's US Interest Rate decision. In addition to this, traders will be eyeing further confirmation of Obama's view on a three year freeze on domestic spending in his 2011 budget.
Gold & Silver
- Yesterday, US existing home sales fell by 16.7% in December
- The Dollar index rallied once again as investors still harbored concerns over the Euro
- Q4 GDP in the UK will be announced at 0930, with analysts' consensus being that the recession will officially be over, citing 0.4% growth
- Please note that the FOMC start their two-day meeting today and announce their interest rate decision tomorrow evening.
Major Economic News
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