Gold falls little after the Fed meeting minutes release as Central Bank is likely to continue stimulus cut in upcoming meetings. The metal fell by 0.72% to $1310 at 1030 GMT at international market.
Gold rally has taken a break before U.S. CPI, Manufacturing Index and Unemployment Claims data. CPI is likely to remain unchanged at 0.1% but Philly fed manufacturing index may fall this time. We are expecting that the index may go below 9 as manufacturing related indicators have softened this month. Industrial production, factory orders and manufacturing PMI has shown negative result earlier. Unemployment claims may increase on waning economic growth. This time freezing cold has also affected employment. We may see claims above 340k for last week.
Precious metals are expected to remain in demand as U.S. is not on the path of sustainable growth. Fragile emerging economies are volatile. Investment is likely to be driven by haven assets in such kind of global economic scenario.