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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (12495)	4/8/2015 9:08:43 AM
From: Goose94	Read Replies (1) \| Respond to of 204406

Despite gold’s pullback on Tuesday, HSBC analysts say its ability to hold above $1,200/oz in the face of a stronger U.S. dollar is impressive. “This leads us to think that bullion may stabilize and hold, with the market consolidating from recent gains,” they noted in a research note Tuesday afternoon. Quoting HSBC’s G10 FX Strategist Robert Lynch, the analysts said that dollar consolidation may be in the cards. “Gold and the USD have a historical inverse correlation and the prospect for a consolidation of recent USD gains would provide support for bullion, in our view,” the analysts said. Another factor supporting the gold market are mixed messages from Federal Reserve officials, like Minneapolis Fed president Narayana Kocherlakota, on when a rate hike may be put in motion by the central bank. “Mr. Kocherlakota said that it would be appropriate for the Federal Open Market Committee to defer the initial interest rate hike until the second half of 2016,” they analysts said, adding that market watchers will be keeping a close eye on the Federal Open Market Committee minutes due for release Wednesday afternoon.