MNI BRIEF: US Pay Gains Stabilizing At Higher Rate -ADP

MNI China Daily Summary: Wednesday, Dec 4

MNI: Toronto Nov Home Sales Jump 40% From Year Ago As BOC Cuts

MNI BRIEF: China Must Quicken Reforms To Boost Domestic Demand

MNI: PBOC Net Drains CNY227 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1934 Weds; -1.91% Y/Y

MNI: CANADA Q3 LABOR PRODUCTIVITY -0.4% QOQ

MNI: US MBA: MARKET COMPOSITE +2.8% SA THRU NOV 29 WK

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Better Week For Gold As USD Comes Under Pressure

GOLD

Gold prices rose on Wednesday consistent with USD weakness driven by solid PMIs in China. After rising 0.5% bullion is down 0.1% during APAC trading and moving in a narrow range. It is currently around $1834.40/oz after a high of $1838.21 and a low of $1831.18. The USD index is up 0.1%.

  • Conditions remain bearish for gold, as the US Fed’s hawkish stance is likely to continue for now. Rate cuts are not generally expected until 2024.
  • The Fed’s Waller and Kashkari are speaking later on the economic outlook and race, justice and the economy respectively. These are likely the most important upcoming events for gold. In terms of data, there are US jobless claims and final Q4 readings for unit labour costs/productivity. There is also euro area February CPI data and the ECB minutes.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.