CreateAppreciated as a Safe-Asset / Gold / 15/01/2015 09:55:36Yesterday retail sales stay remained below expected in the US side. Gold appreciated as a safe-asset pricing due to both negative US data and risk sense continues to rise on a global basis. Also World Bank cut its global growth estimate from 3,4 percent to 3,0 percent.
Today jobless claims, PPI and Philadelphia FED manufacturing index...
data will be followed by the markets. Especially PPI data should be followed carefully by the investors.
Technically in case of the gold staying above the 1230 level, then the 1238 and the 1245 level can be targeted. On the other hand in case of the gold breaking the 1230 support level, then the selling pressure would be accelerated.