A snippet on gold from ANZ’s run down of Thursday’s price moves:
Gold climbed after the US economy shrank for a second consecutive quarter.
- The subsequent lower USD and bond yields saw investor demand pick up.
- This also clouds the outlook for further aggressive rate hikes, which as weighed on investor demand for the precious metal in recent weeks.
Also, did anyone have any fun with the gold candle on this chart highlighted this time last week?
I got one comment agreeing, which was great!
ps .you can check out the chart at that link above, and rest assured, the ‘sexy candle’ is totally SFW! 😉
This article was originally published by Forexlive.com. Read the original article here.