Gold prices may follow an overnight rebound in crude oil as a dovish Federal Reserve policy announcement drives demand for precious metals.
Talking Points
- Crude Oil, Copper Rise as Cyprus Bank Levy Rejection Boosts Risk Trends
- Gold and Silver to Find Support as US Dollar Weakens on Dovish FOMC
Crude oil and copper are on the upswing as risk sentiment firms in European trade, pulling the cycle-sensitive commodities higher. The chipper mood seems to reflect a sigh of relief around the markets after Cyprus rejected an EU bailout deal that included a controversial levy on bank deposits which - if approved - threatened to spark bank runs around the Eurozone periphery.Gold and silver are treading water as the spotlight shifts to the US and the FOMC policy announcement.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
