Data from the United States were generally better than estimates, which further supported confidence over the outlook of the world’s largest economy, and provided gold prices with bullish momentum as well.
This week, the main focus will be on the BoE rate decisions, trade, manufacturing and inflation data from the U.K. while the U.S. will release retail, trade and confidence, as well as other data.
Moreover, several euro zone nations are preparing for bond auctions, where all eyes will be focused on the yields and demand on those bonds, noting that the euro area region has more than 157 billion of debt maturing in the first quarter of 2012.
Traders will continue to focus their attention on Europe this coming week, where the European Central Bank is expected to keep its rates unchanged, in order to ease tensions in markets and help support confidence amid the worsening debt crisis in the euro zone region. read gold prices prediction january 9 -13 2012
We continue to expect that gold prices will rise over the coming period, however, we also expect volatility to continue to dominate gold prices over the short term, as despite the recent improvement in overall conditions, yet risks are still threatening the progress of improvement, especially as the outlook for global economies remains full of uncertainty. We also expect Europe to continue to dominate the headlines next week. Source http://www.fxempire.com For the latest updates PRESS CTR + D or visit Stock Market news Today
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