MNI China Press Digest Jan 6: PBOC Bills, Yuan, Capital Market

MNI: China CFETS Yuan Index Up 0.62% In Week of Jan 3

MNI: PBOC Net Drains CNY75.0 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1876 Mon; -2.27% Y/Y

MNI China Daily Summary: Friday, January 3

MNI China Press Digest Jan 3:RRR Cut Mooted, Yuan, Consumption

US EIA:NAT GAS STORAGE -116 BCF TO 3,413 BCF JAN 03 WK

MNI: US ISM DEC MANUF PURCHASING MANAGERS INDEX 49.3

MNI: UK NOV M4 MONEY SUPPLY +0% M/M, +2.9% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

COMMODITIES: Crude Sinks, Spot Gold Continues To Consolidate

COMMODITIES
EM BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsEmerging Market News
  • Crude prices have dipped further today, erasing most of yesterday’s gains. While there were no clear headline drivers during US hours, the market awaits the outcome from OPEC+’s meeting on Dec 5. The fall comes despite a larger than expected US crude stock draw.
  • WTI Jan 25 is down by 1.7% at $68.7/bbl.
  • OPEC+ is progressing on discussion for a possible three-month delay to its oil production hike according to Bloomberg sources.
  • A bearish threat in WTI futures remains present, with eyes on $65.74, the Oct 1 low.
  • Meanwhile, spot gold has edged up by another 0.3% today to $2,652/oz, keeping the yellow metal in the tight range it has traded in since the sharp pull-back on Nov 25.
  • The long-term trend condition remains bullish and the Oct 31 - Nov 14 bear leg appears to have been a correction. Analysts at BofA still believe that gold will reach $3,000/oz at some point next year.
  • Our technical analyst says that resistance to watch is $2,721.4, the Nov 25 high. Clearance of this level would highlight a bullish short-term development.
  • Silver is outperforming again today, with the precious metal up by 0.8% at $31.3/oz. The move brings the gold-silver ratio down to 84.7, its lowest since Nov 20.
  • Silver has pierced initial firm resistance at $31.157, the 50-day EMA. A clear break of this EMA would highlight a possible reversal, opening $33.125 next, the Nov 1 high.
229 words

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.
  • Crude prices have dipped further today, erasing most of yesterday’s gains. While there were no clear headline drivers during US hours, the market awaits the outcome from OPEC+’s meeting on Dec 5. The fall comes despite a larger than expected US crude stock draw.
  • WTI Jan 25 is down by 1.7% at $68.7/bbl.
  • OPEC+ is progressing on discussion for a possible three-month delay to its oil production hike according to Bloomberg sources.
  • A bearish threat in WTI futures remains present, with eyes on $65.74, the Oct 1 low.
  • Meanwhile, spot gold has edged up by another 0.3% today to $2,652/oz, keeping the yellow metal in the tight range it has traded in since the sharp pull-back on Nov 25.
  • The long-term trend condition remains bullish and the Oct 31 - Nov 14 bear leg appears to have been a correction. Analysts at BofA still believe that gold will reach $3,000/oz at some point next year.
  • Our technical analyst says that resistance to watch is $2,721.4, the Nov 25 high. Clearance of this level would highlight a bullish short-term development.
  • Silver is outperforming again today, with the precious metal up by 0.8% at $31.3/oz. The move brings the gold-silver ratio down to 84.7, its lowest since Nov 20.
  • Silver has pierced initial firm resistance at $31.157, the 50-day EMA. A clear break of this EMA would highlight a possible reversal, opening $33.125 next, the Nov 1 high.