MNI BRIEF: BOE Rate Cut Closer But Still Some Way Off - Pill

MNI China Daily Summary: Tuesday, April 23

RPT-MNI INTERVIEW: Kaplan Says Loose Fiscal Is Holding Up Cut

MNI BRIEF: Hungary Central Bank Cuts To 7.75% As Expected

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1059 Tues; -5.03% Y/Y

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: UK, GR Synd; DE Auction Wednesday

EZ/UK Bond Supply Calendar: UK, GR Synd; DE Auction Wednesday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Edges Away From Overnight Highs ​​

GOLD

Gold has edged down slightly during today's Asia session. We are just above $1830, versus late NY highs of +$1840.

  • We are only down 0.20% from NY closing levels, with fairly tight ranges prevailing overall.
  • The USD is slightly firmer against the majors in terms of EUR, JPY and GBP, so Gold's pullback from overnight highs is in line. Contributing to this move was an earlier spike in US yields, although we have moved away from the day's highs.
  • Equity sentiment has been fairly positive throughout the region, which has likely reduced safe haven demand at the margin.
  • The CEO of Newmont, the world's largest gold producer, stated the precious metal's floor price is getting higher ($1500-$1600). This is up from the previous floor around $1200 and owes to surge in global inflation pressures.
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.