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Fed Meeting Will Not Be The Spark To Push Gold Prices Higher - Analysts

Monday, 18 March 2019 15:30 WIB Gold Outlook Gold Corner

Once again the gold market is eking out a weekly gain as prices trade around the critical psychological level of $1,300 an ounce. However, according to some analyst, the market lacks a catalyst to push prices to last month's 10-month high. Although down from its highs, the market is still preparing to the week with most gains last week, with April gold futures last traded at $1,302 an ounce, up 0.21% from the previous week. Ole Hansen, head of commodity strategy at Saxo Bank said that Thursday's 1% decline shows that the market is lacking conviction for higher prices. He added that resilience in equity markets is making gold a less attractive alternative for investors. The S&P 500...

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