Crude Oil Insights Uncategorized Commodity price outlook – Gold heading towards breaking 1100, Euro beyond 1.30

Commodity price outlook – Gold heading towards breaking 1100, Euro beyond 1.30

With the Euro nicely recovering from its low of 1.18, the momentum that pushed gold beyond 1,256 dollars an ounce is now gone. Combine this with deflationary pressures in the US and the upcoming elections in November and we should see weakening in Gold from its current level to its pre-Euro zone crisis level of 1050.

 

Author: Jawwad