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Gold Price Prediction for November 14, 2017

David Becker

Gold prices consolidated near the 10-day moving average moving sideways ahead of Wednesday CPI and Retail Sales reports in the United States. Resistance is seen near the 50-day moving average at 1,292. Momentum is flat as the MACD (moving average convergence divergence) histogram prints near the zero-index level with a flat trajectory which reflects consolidation.

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The EIB May Face Reduction in Lending Volume

The European Investment Bank may face reduction in lending volume due to Brexit. The President of the European Investment Bank (EIB) Hoyer warned in an interview with Boersen-Zeitung that if other EU member states don’t replace the U.K.’s capital share of 16% the maximum lending capacity of the bank could fall by as much as EUR 100 bln. Hoyer said, however, that a cash infusion is not needed and that it would be sufficient to transfer a small part of the bank reserves will be transferred to equity.

This article was originally posted on FX Empire

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