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Home>Coins dealers headline>Daily Market Report: Gold Remains Defensive as Risk Appetite is Stoked

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Daily Market Report: Gold Remains Defensive as Risk Appetite is Stoked

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USA Gold

Published : April 25th, 2017

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	USAGOLD/Peter Grant/04-25-17 Gold extended modestly lower, exceeding yesterday’s low at 1265.12 as risk assets continue to benefit from the French election results and the prospect of much lower U.S. corporate taxes. The weaker dollar and geopolitical risks continue to offer some support. “Between the France election and the prospects of corporate tax cuts being proposed in the next few days, it’s clearly a risk-on backdrop.” — Thierry Albert Wizman, global interest rates and currencies strategist at Macquarie Group Ltd The Trump administration’s pitch for a 15% corporate tax rate has stock market investors all excited, but it strikes me as unlikely such a low rate will actually get through Congress. This could be typical Trump negotiating tactics; ask for the moon and negotiate to some compromise. Nonetheless, stocks are charging higher and the dollar index has fallen to levels not seen since November. According to Reuters, ECB sources are suggesting there could be a hawkish signal in June. Three sources on and close to the European Central Bank’s Governing Council told Reuters that with the threat of a run-off between two eurosceptic candidates in France averted, and with the economy on its best run in years, many rate setters see scope for sending a small signal in June towards reducing monetary stimulus. — Reuters The next ECB policy announcement is actually tomorrow, but they are widely expected to hold steady. Even so, there could be some sense of relief communicated that might be a harbinger of a more hawkish tone in June. In Japan however, BoJ Governor Kuroda sees QE continuing for some time. Kuroda said a stronger yen could delay attainment of their 2% inflation goal, so of course that’s the last thing the BoJ wants.

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Data and Statistics for these countries : France | Georgia | Japan | All

Gold and Silver Prices for these countries : France | Georgia | Japan | All

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