The PMI data was almost immediately countered out by the rise in US residential construction data (up 1.5% in Feb and 7.6% in March) even though non-residential performed pretty badly. This current POG volatility seems to be all about the US dollar and the US economy. When it is as much about real world demand then we might see sustainable increases.
IMHO I'm worried that this POG spike is built on currency issues (YEN and US Dollar) and not on gold issues (as yet anyway)......
See the figures here http://www.census.gov/construction/c30/pdf/totsa.pdf
- Forums
- Commodities
- GOLD
- gold
gold, page-1308
-
- There are more pages in this discussion • 126,574 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)