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Coiling Ahead Of U.S. CPI.

GOLD

Spot has held to a narrow range in Asia, benefitting from some modest risk-off flows as we grind towards European trade, last dealing marginally higher on the day, printing $1,785/oz. U.S. real yields remain at the fore for bullion, with spot holding within the recently established range, leaving familiar technical boundaries intact. Focus remains squarely on Friday’s U.S. CPI report. ETF holdings of gold have unwound around 50% of their very modest late November bounce, holding around the lowest level witnessed since the all-time peak registered in Oct ’20. That leaves that metric 10.5% shy of record levels, but it still remains elevated in a historical sense.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities

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