The soundest silence being split asunder overnight.

By the end of trading last night Gold, Silver, Platinum, and Palladium were down by more than a percent besides Brent crude and Copper too joined the bear party down by 1.20% and 1.00% respectively.

The US dollar index rose 0.3% and closed at 96.78. In bond 10y Treasury yield closed at 2.51 vs 2.48 in Wednesday. The Producer Price Index rose 0.6% in March vs 0.1% in February, the U.S. Bureau of Labour Statistics reported.

Back to the subject of US dollar strength, it has traced out a triple bottom around 96.40 levels. Against the EM currencies Turkish Lira and South Africa Rand, the USD up by 0.90% and 0.70% respectively. Besides commodity currencies AUD down by 0.70% followed by 0.6% and CAD by 0.45%.

In Crypto’s Ripple down by nearly 8.00% followed by Bitcoin by 5.00%.

Looking at the day ahead, the economic calendar is lighter except China Trade Balance.  There is no market movers in Europe and US session.

Chart of the day: Gold

Levels to watch in Gold is 1286$ and 1280$ below here 1276$ exists. 

It is important to always keep in mind the risks involved in trading with leveraged instruments.

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