By CommoditiesMansion.com
Gold ascended in Thursday’s trading session to return near record highs of 1,445.00 an ounce, as inflation accelerated in Europe during March, by 2.6% from 2.4% which increased speculations that ECB will tighten its policy in next week’s rate decision; accordingly, the metal is expected to gain as it is considered the best hedge against inflation.
Further bullishness is expected Friday as conflict in Libya persists for another day. Meanwhile, volatility is expected to strike by 12:30 GMT, on Friday, as the US economy will release the nonfarm payrolls report that will show the economy added 200.0 thousand jobs in March.
Nonetheless, the dollar is expected to drop tomorrow, where the inverse relationship between the greenback and commodities may force the precious metal to ascend further to trade above historic high of 1,445.00 an ounce with targets set at 1,460.0 an ounce.
Further bullishness is expected in the final day of this week as far as trading remains above 1,420.00 an ounce.
Originally posted here
