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Kitco News speaks with iiTrader’s Bill Baruch following the release of Tuesday’s CPI numbers in the US. He says that although inflation data was somewhat less worrisome, it still offered a case for gold. “Now that inflation isn’t a worry, the Fed may not have its hand forced sooner than expected at raising rates,” he says. Baruch adds that this is supportive for gold. “Our major resistance is the $1,315-1,317 area and the market really needs to close above there.” Baruch also comments on the recent news about Credit Suisse closing its commodities business and says that he thinks it may be a trend that will continue. Tune in now to find out where the bulls need to close in order to ensure the market will move higher! Kitco news, July 22, 2014.
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As well as the most accurate precious metal prices online, Kitco also provides up-to-the-minute news with usable market information. Videos provided by and © Kitco.
As well as the most accurate precious metal prices online, Kitco also provides up-to-the-minute news with usable market information. Videos provided by and ©
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