Free Trial

Bullion remained weak in Asia and Europe as....>

GOLD
GOLD: Bullion remained weak in Asia and Europe as price declined from intra-day
highs of $1264.59 to $1253.73. The dollar remained firm with, which helped push
the precious metal lower.
- In NY as initial jobless claims fell by 2K to 236K, est 240K the yellow metal
pushed slightly lower to fresh lows of $1253.63.
- Late NY saw the greenback moved higher, with firmer US Tsys and the precious
metal continued its path lower possibly on a renewed sense of optimism on US tax
reforms.
- According to MNI technical analysis the next point of technical support for
bullion visible at $1242.5 (1.618x $1299.3-$1270.4 from $1289.3).  

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.