What are the key factors to drive Gold?


NEW YORK (Scrap Register): The key factors for the gold market at the moment are North Korea, Thursday’s report on consumer prices in the U.S. and a meeting next week of the Federal Open Market Committee, said Edward Meir, commodities consultant with INTL FCStone.

The war of words between Washington and Pyongyang continues, meaning geopolitical tensions that can help gold. Inflation data out of the U.S. (out tomorrow), coupled with the Fed policy meeting next week, should prove to be the next key inflection points for gold,” Meir added.

“Of the two, the Fed meeting will carry more weight and we suspect it will ultimately be supportive for the precious metal, as the Fed should again come across as quite dovish, especially in light of the recent natural disasters unfolding in both Texas and Florida,” Meir noted.

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