It is a sign of the caution that permeates the global economic outlook when four of the world's top central banks, all due to meet within days of each other, are almost unanimously expected to make no change to their extraordinary stimulus programs.
While the US , Bank of England, Swiss National Bank and the Bank of Japan are all dealing with varying amounts or shortages of , none are expected to act ahead of one of the biggest risk events of 2016.
Britain's referendum on whether to remain in or leave the European Union has been creeping from the back to the front of investors' minds. During the last full week of campaigning before the June 23 vote, it may dominate most discussion.
Janet Yellen's Fed has spent most of the past month or so dropping hints that a summer rate hike was on the way. However, disappointing May hiring data and a UK vote that is too close in the polls to have confidence in the outcome have toned down her message, making a rate rise on June 15 now highly unlikely.
Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose to 893.92 tonnes on Friday, the highest since October 2013. Speculators raised their net long position in COMEX gold contracts in the week to June 7, and cut their stance in silver , US Commodity Trading Commission data showed.
Our long-term target is 1335.00. We have locked in profit at 1245.00
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