Friday, 29 April 2016 13:38

Gold Traders with Strong Sentiment Send Gold to $1296.3

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Gold soared to $1296.3 per oz today amid strong sentiment and weak US dollar, gold trades at $1294.4 per oz on Friday afternoon session and silver trades at $17.80 per oz. Under clouds of uncertainty in US and UK, traders believe Brexit may cast a strong impact on US Fed’s rate hike decision in June. Another supporting factor for gold bull was the surprising BOJ decision in no further monetary easing, which sent Japanese currency to a fresh 18-month high. As we have seen substantial inflow of funds to the precious metals market, gold bulls are enjoying a new wave of uptrend momentum since the new year starts. We continue to favour a long position in gold and silver and not surprised to see further price gain above $1300 per oz next week.

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Bill H

Trader of Suncorp Gold Inc.

Tel: 604-273-9700

E-mail: bill@suncorpgold.com

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