Merchants Gold showed a remarkable lack of interest in the events in Greece over the weekend. Gold is under pressure this year from the uncertainty regarding the timing of the increase of the interest rate cash, which can boost the precious metal.
Data on the US trade balance on Tuesday could affect the movement of the dollar, which in turn could affect the gold. The US Federal Reserve is largely concerned ot slowdown in exports (down about 4 percent from $ 134.5 billion in December last year to $ 129 billion in April). If the export data is positive, the dollar may get a further boost this week. As a result, the gold may be under pressure and to descend further.
Gold is under pressure
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