| Gold prices will likely remain rangebound in June, in line with its recent spread, INTL FCStone analyst Edward Meir said in a monthly report yesterday. If the US Fed maintains a cautious stance towards an eventual rate hike at its June meeting, as is widely expected, it would generate little downside pressure, while ‘sloppy’ fundamentals are seen capping any big gains.
Coming off May, gold was evidently not strong enough to break above key resistance levels despite significant weakness in the dollar, indicating that the yellow metal will likely remain more resistant to currency movements until more clarity on Fed rates is presented...............................................Full Article: Source
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