CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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

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

Bull Rally Extends

GOLD TECHS
  • RES 4: $1923.2 - 76.4% retracement of the Feb 2 - 28 sell-off
  • RES 3: $1918.6 - High Feb 3
  • RES 2: $1900.6 - 61.8% retracement of the Feb 2 - 28 sell-off
  • RES 1: $1889.4 - Intraday high
  • PRICE: $1881.1 @ 06:10 GMT Mar 13
  • SUP 1: $1844.3 - 50-day EMA
  • SUP 2: $1804.9 - Low Feb 28 and the bear trigger
  • SUP 3: $1798.0 - 2.0% 10-dma envelope
  • SUP 4: $1787.3 - 50.0% retracement of the Sep 28 - Feb 2 bull leg

Gold reversed sharply higher last week and the yellow metal has traded higher today. Resistance at $1858.3, the Mar 6 high has been cleared. This signals scope for an extension towards $1900.6, a Fibonacci retracement point and a key near-term resistance. On the downside, initial firm support is seen at $1844.3, the 50-day EMA. A break of this level is required to instead signal a top - this would expose the bear trigger at $1804.9. Feb 28 low.

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.