MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

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

MNI China Daily Summary: Monday, December 9

MNI BRIEF: Mexico Inflation Down To 4.55% In November

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

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

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

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

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

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

Bullion Holds Onto Post-CPI Gains, US Retail Sales Later

GOLD

Gold prices are 0.1% higher during today’s APAC session after rising 0.8% on Tuesday following lower-than-expected US CPI data that resulted in the market pricing in the end of the tightening cycle and more rate cuts for 2024. Bullion is trading around $1966.85/oz, close to the intraday high but still below yesterday’s $1970.94. The USD rose early in the session but is now 0.1% lower.

  • Gold prices remain below resistance at $1978.40, November 7 high, as the flight-to-quality war risk premium was unwinding prior to the US inflation data.
  • ANZ believes that the lower US CPI read and the subsequent increase in Fed easing expectations may result in increased investment demand for gold. They also think that increased occurrences of global tensions will create structural geopolitical demand for bullion, including from central banks.
  • Later the Fed’s Barr and Barkin speak plus there is US October retail sales, the control group is expected to rise 0.2% m/m, and PPI data. There are also UK CPI/PPI and euro area IP.
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.