US NOV FLASH MANUF PMI 48.8 (FCST: 48.9); OCT 48.5

MNI:Largest Canada New Home Price Dip Since `09 Led By Toronto

CANADIAN OCT FLASH RETAIL SALES +0.7%, 4TH STRAIGHT INCREASE

MNI China Daily Summary: Friday, November 22

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL NOV INDEX 71.8

MNI: CANADIAN SEP RETAIL SALES +0.4%; SALES EX-AUTOS/PARTS +0.9%

MNI: CANADIAN SEP RETAIL SALES +0.4%; SALES EX-AUTOS/PARTS +0.9%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

COMMODITIES: Gold Continues to Hover Close to Record Highs

COMMODITIES
EM BulletCommoditiesEmerging Market NewsEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets

WTI futures gapped lower Tuesday and this resulted in a break of the Oct 9 low. A bearish extension would threaten the recent bullish theme and expose support at $66.33, the Oct 1 low, and $64.61, the Sep 10 low and a key support. For bulls, a resumption of gains would instead refocus attention on the key short-term resistance at $78.46, the Oct 8 high. Clearance of this level would resume to the recent uptrend. Gold is trading higher this week and the recent short-term retracement appears to have been a correction. The trend condition is unchanged and remains bullish. Moving average studies are in a bull-mode set-up too, highlighting a clear uptrend. Sights are on $2690.2, a Fibonacci projection. Firm support lies at $2631.1, the 20-day EMA. It has been pierced, a clear break would signal scope for a deeper retracement.

  • WTI Crude up $0.19 or +0.27% at $70.55
  • Natural Gas down $0.01 or -0.46% at $2.357
  • Gold spot up $8.39 or +0.31% at $2681.93
  • Copper down $6.65 or -1.52% at $430.05
  • Silver down $0.07 or -0.22% at $31.6117
  • Platinum up $1.03 or +0.1% at $999.51
181 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.

WTI futures gapped lower Tuesday and this resulted in a break of the Oct 9 low. A bearish extension would threaten the recent bullish theme and expose support at $66.33, the Oct 1 low, and $64.61, the Sep 10 low and a key support. For bulls, a resumption of gains would instead refocus attention on the key short-term resistance at $78.46, the Oct 8 high. Clearance of this level would resume to the recent uptrend. Gold is trading higher this week and the recent short-term retracement appears to have been a correction. The trend condition is unchanged and remains bullish. Moving average studies are in a bull-mode set-up too, highlighting a clear uptrend. Sights are on $2690.2, a Fibonacci projection. Firm support lies at $2631.1, the 20-day EMA. It has been pierced, a clear break would signal scope for a deeper retracement.

  • WTI Crude up $0.19 or +0.27% at $70.55
  • Natural Gas down $0.01 or -0.46% at $2.357
  • Gold spot up $8.39 or +0.31% at $2681.93
  • Copper down $6.65 or -1.52% at $430.05
  • Silver down $0.07 or -0.22% at $31.6117
  • Platinum up $1.03 or +0.1% at $999.51