Gold “Bulls” wait for a break of $1600
The price of gold rose modestly in European trading on Tuesday, but it seems difficult to break $1600 level, a key resistance. Some of the investors believe that it may still be blocked.
Investors are betting the Fed will announce interest rate cuts at March meeting or even earlier
The US dollar index, which measures the greenback against a basket of six other major currencies, was down 0.53% at 97.448. The intraday low was 97.176, the lowest since January 16.
Risk appetite may weigh on euro
Central banks everywhere have hinted that the economy will be supported by actions. Investors look forward to the coming of the “policy” market.....