Gold & Silver Commentary – 03Mar

Posted: 03 Mar 2010, 8:07pm (PRECIOUS)


Gold broke the 75 day moving average and is now trading at six week highs, as attention now turns to a big week on the economic front. Today sees the release of employment figures in the US, and the closely watched Beige Book this evening. Tomorrow we have interest rate decisions in the UK and Eurozone, and the week closes with non-farms on Friday.

Japanese jobless rate dropped for the second consecutive month during January and household spending increased.

This morning’s PMI data showed UK services sector activity was at a three year high in February, reversing the falls in January, and confounding economists’ predictions.

UK consumer confidence rose to its highest levels in two years according to the Nationwide Building Society.

The Bank of Canada kept interest rates at 0.25% and confirmed that they would leave rates unchanged until June.

Please note that the Beige Book is being released this evening.

#

Share | Print This Post Print This Post

This message is posted on 3rd March 2010 and filed under PRECIOUS. Follow comments to this entry through RSS 2.0 feed. Both comments and pings are currently closed.

»
«

 
 

Comments are closed.