On Friday (April 10th) the price of gold pushed back to $1200 / ounce, which last week the price of gold fell sharply reduced. Asia city on Monday after opening, the price of gold at $1207 / ounce fluctuations.
The Federal Open Market Committee (FOMC) chairman Richmond, the Fed chairman Lake (JeffreyLacker) Friday on the economic outlook published in his speech pointed out that the Fed has a strong reason to raise interest rates at the June meeting of the FOMC, this is the most hawkish tone all Fed officials now.
However, Minneapolis Fed President Kocherlakota (NarayanaKocherlakota) on Friday reiterated to raise interest rates in 2015 will be a "mistake", FOMC will take several years to achieve the inflation and employment objectives, relative earlier rate hike is not convincing.
This week the price of gold will be affected a large number of economic data, the market will be based on these data the Fed will be what action in April 28 to 29 days of the meeting.
In addition, this week holiday in India, so India is also the demand for physical gold market will be the focus of.
TD securities (TDSecurities) head of commodity strategy, BartMelek said: "the market is still in the non farm payrolls data response. A non farm performance expectations, will affect the Fed rate hike expectations."
But Melek said, last Wednesday fed minutes than expected so the doves, led to a drop in the price of gold. But last week the price driven by hardware, back to $1200 / ounce.
Business hedge competent SeanLusk WalshTrading said: "this week, a number of economic data, which will be the focus of attention of the market."
According to the latest survey by Bloomberg announced Friday, because the dollar will be further strengthened, gold traders, analysts bearish gold this week. In 19 gold traders and analysts surveyed, 6 people call (32%), 9 (47%), bearish 4 look flat (21%).
In the physical demand, apple AppleWatch Friday to accept reservations, expected a month sold as many as 1000000 of the 18 gold AppleWatch, will bring a huge impact on the global market and economy. According to estimates, Apple will need to produce 746 tonnes of gold, so a lot of AppleWatch, equivalent to the global output of 1/3 a year, will be the global gold even the economy a significant impact.
Data showed on Thursday, gold ETP holdings increased by 3.9 tons to 1620.1 tons, the highest since February 23rd. Among them, the world's largest gold ETP SPDRGoldTrust holdings on Thursday recorded in two months, the biggest one-day inflow.
06:13 Beijing time, spot gold was quoted at $1206.89 / ounce.
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