Last week, we followed Euro Zone inflation and US growth data. In the Euro Area, consumer price index increased by 0.9% monthly in March, while annual inflation, which was 8.5% in February, decreased to 6.9% in March. Core inflation, on the other hand, broke a record with 5.7%. The US economy grew by 2.6% in the fourth quarter of 2022, while it grew by 2.1% for the year. First Citizens Bank's takeover of loans and deposits of Silicon Maturity Bank (SVB), which went bankrupt in global markets, which experienced hard sales due to the banking crisis in the past weeks, alleviated the concerns about the banking system, while a partial recovery was observed in the markets. We followed around 2.000 USD per ounce of gold, and we think that it will not decrease as long as the banking crisis and inflation data are like this. LBMA is closed Friday and today, the am and pm fixing price will not be announced.
Weekly Market Analysis / 10 - 14 April 2023
