Global Financial Market Analysis

International gold prices are down more than 30 percent since scaling the $1900 per troy ounce peak in the second half of 2011, making the asset class one of the worst performers in relation to both short and long- term financial instruments such as

The US economy grew at the fastest pace in three quarters, registering a 2.6 percent growth in the second quarter of 2017, compared to the year earlier even as the Q1’17 figures were revised lower to 1.2 percent from 1.4 percent.

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Manufacturing PMI in the US rose to more than 2 year highs in June on the back of rise in employment, new orders and production. The monthly data released by ISM came in at a better than expected 57.8 from 54.9 in May. However, the index measuring inventories slipped to a 3- month low.

When the Bretton Woods Agreement collapsed in 1971- 1973, gold was pegged at around $35- 40 a troy ounce to the greenback. Since then, the precious metal has risen close to 3500 percent in 45 years.

The ECB, established in 1998 is responsible for conducting monetary policy measures in the European Union....