GOLD: Momentum increasingly bearish and gold bugs slightly seasick.. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.


GOLD SHORT TERM TRADER: Short at 1283; stop above 1290. Next target 1260.

GOLD POSITION TAKER: Short at 1292; stop above 1290. Target 1185.

Australian inflation dips
To among the lowest on record

Today Australia’s statistics office published quarterly inflation data showing CPI was flat in the first 3 months of this year, taking the annualised rate down to 1.3 per cent from 1.8 per cent growth in the last 3 months of 2018; the weighted and trimmed means came in at 1.6 and 1.4 per cent annualised, respectively. This is the lowest CPI has been since September 2016 and compares to a recent high at 2.1 per cent in March 2017. Worth noting that CPI grew at 1 per cent only in Q2 2016 and Q2 1999, and has been negative only twice: -0.4 per cent in Q3 1997 and -1.3 per cent in Q2 1962.

Ahead of this week’s Belt and Road summit in Beijing, where 37 heads of state are expected, PM Theresa May has given Chinese telecoms giant Huawei the green light to roll out 5G infrastructure in Britain despite reservations among some of her cabinet. This runs counter to President Trump’s ideas on the subject with which the Australian government has sided.

Financial Markets and Political Commentary


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