Gold Prices Locked in a Range

The gold prices have recovered slightly over the last 2 days in slow and consolidative trading that we have been seeing in the markets during this period. The prices have been on the backfoot during the course of last week as the dollar has managed to regain some of its mojo back as there has been no follow up to the risk and the threat of a global trade war breaking out. In fact, it is quite likely that the dollar would have been much stronger than how it is right now if not for the tariff plan from the US government. Though such a plan is likely to benefit the US in the short term, in the medium and long term it is going to be detrimental for the US economy as well as the economies of other countries as well.

Prices Stable

This caused the gold prices to move to the 1320 region during the course of last week but it has been able to manage to recover since then and now it trades just short of the 1330 region as of this writing. But there is no momentum at this point of time and with today also being a holiday in many parts of the world as it is Easter Monday, we do not expect too much of an action during the course of the day today and hence it can be safely said that the consolidation would continue.

Its been a while since the oil prices did anything spectacular and as we have been saying many times over during the last few weeks, the bulk of the move and the volatility in the oil market is done and dusted and hence we cannot expect too much of an action in the medium term. As if to prove that, the oil prices continue to trade in the $65 region over the last few days.

The silver prices have also been ranging for long in what is being marked out as a dull period for the commodity markets which have been used to a lot more volatility till a few months back.