Charles Morgan Commodities Update from Sachs International

LONDON - Jan. 28, 2015 - PRLog -- There were mixed markets in commodities after some less than helpful economic data was revealed today but the yellow metal is looking positive this Tuesday. February contract prices were up just above 1% to $1,292.50 during the trading day.

This leap comes after consecutive losses in the past two sessions for gold while the dollar eased slowly higher in front of a Federal Reserve policy meeting which is likely to delay the expectation of rising interest rates in the U.S.

Charles Morgan said “It’s bullish for gold futures when we can avoid a rate hike and this looks likely. ”

Investors expect gold futures to remain higher after this afternoon’s meeting.

Morgan goes on to say “The recent win in the Greek elections by the anti-austerity party also has sent investors to Gold for stability.”

The yellow metal is up more than 8 percent this year with the Euro trading at an almost eleven year low against the dollar after an expansion of the ECBs bond buying program.

Other metals futures contracts have not been performing positively with copper and palladium futures down due to weak demand.

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