CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

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

Back Towards The 200 Day MA

GOLD

Golds recent volatility continues, with the precious metal back towards its 200 day MA ($1844). This around 0.70% weaker from NY closing levels.

  • The firmer USD trend, with the DXY rebounding 0.65% today to 104.30, is the main driver of gold weakness.
  • Whilst much of this is concentrated in terms of the USD/JPY bounce (+1.5% to +134.15), all major currencies are weaker against the USD so far today.
  • US yields are also higher following sharp drops in the previous two sessions. The 2yr is back up to 3.15%, around 5bps firmer on the day.
  • Gold got close to $1858 late in the NY session. USD weakness, plus sharp falls in US equities were the main drivers.
  • US equity futures are higher today, while regional Asia Pacific equity market sentiment remains downbeat for the most part.
  • At this stage, gold is tracking 1.5% down for the week, although we are comfortably above the weekly lows of sub $1810.
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.