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Capital Drilling Plc

Gold prices ease but momentum turns positive

Gold prices eased slightly on Wednesday after surging higher on Tuesday. This comes despite a pullback in the dollar index which retraced for a second consecutive trading session. Riskier assets continued to gain traction across the spectrum with stocks rising significantly for a second consecutive trading session after the US Senate agreed to a bill. US yields moved lower across the curve. US durable goods orders moved lower slightly less than expected.

If the US dollar continues to retrace its recent gains gold should be able to climb higher and test upside resistance.

Capital Drilling Ltd (LON:CAPD) provide complete exploration and production drilling solutions to customers within the global minerals industry, with a focus on the African markets.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.