MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI BRIEF: Ontario To Cut U.S. Energy Flows When Tariffs Hit

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

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 Remains Close To Multi-Month Highs, Waiting For Key US Events

GOLD

MNI (Australia) - Gold prices are higher again today up 0.4% after Tuesday’s 0.85% rise. It is now trading around $1846/oz, close to the mid-June highs, and down slightly on the intraday high of $1847.21 but well above the low of $1836.32. The USD has been trading sideways but UST yields are lower.

  • On Tuesday bullion reached a high of $1849.98 while resistance stands at $1857.60, the June 16 high. Trend conditions for gold remain bullish. The current rally is being driven by expectations of the Fed becoming less hawkish, warnings of upcoming recessions and the spread of Covid through China.
  • Later today the FOMC meeting minutes are published, as well as the December manufacturing ISM. Any signals of a less hawkish Fed should be good for gold prices. The other key event for the week is Friday’s payroll data for December, which is expected to post a 200k gain and average hourly earnings are forecast to ease only slightly to 5% y/y (bbg).
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.