MNI BRIEF: China-Based UK Firms Facing Challenges

MNI: PBOC Net Drains CNY248 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1996 Tue; -1.92% Y/Y

MNI NBP WATCH: Another Policy Hold, Dovish Communications Tilt

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

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: SWISS NOV CPI -0.1% M/M, +0.7% Y/Y

MNI: TURKEY NOV CPI +2.24% M/M

MNI:AUSTRALIA Q3 CURR ACCT BALANCE -14149M

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

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

COMMODITIES: Precious Metals Gain, Crude Trades Lower

COMMODITIES
EM BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsEmerging Market News
  • Spot gold has risen by 1.0% to $2,656/oz today, leaving the yellow metal broadly unchanged on the week.
  • With the resumption of gains over the last two sessions, following six consecutive losses, attention refocuses on $2,690.2, a Fibonacci projection.
  • Firm support lies at $2,620.3, the 20-day EMA.
  • Meanwhile, silver has also gained by 1.0% to $31.5/oz on Friday, leaving it around 2% lower on the week.
  • The short-term weakness in silver this week is considered corrective and bullish conditions remain intact. Focus remains on $32.963, the Oct 4 high.
  • WTI traded lower today, but rose around 1.5% on the week, as the market weighs the risk of supply disruption in the Middle East and awaits Israel’s retaliation against Iran.
  • WTI Nov 24 is down by 0.5% at $75.5/bbl.
  • Recent gains for WTI futures suggest potential for a continuation higher near-term. Attention is on $77.40, the 76.4% retracement of the Jul 5 - Sep 10 bear leg. This level has been pierced and a clear break of it would strengthen a bullish condition.
165 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.
  • Spot gold has risen by 1.0% to $2,656/oz today, leaving the yellow metal broadly unchanged on the week.
  • With the resumption of gains over the last two sessions, following six consecutive losses, attention refocuses on $2,690.2, a Fibonacci projection.
  • Firm support lies at $2,620.3, the 20-day EMA.
  • Meanwhile, silver has also gained by 1.0% to $31.5/oz on Friday, leaving it around 2% lower on the week.
  • The short-term weakness in silver this week is considered corrective and bullish conditions remain intact. Focus remains on $32.963, the Oct 4 high.
  • WTI traded lower today, but rose around 1.5% on the week, as the market weighs the risk of supply disruption in the Middle East and awaits Israel’s retaliation against Iran.
  • WTI Nov 24 is down by 0.5% at $75.5/bbl.
  • Recent gains for WTI futures suggest potential for a continuation higher near-term. Attention is on $77.40, the 76.4% retracement of the Jul 5 - Sep 10 bear leg. This level has been pierced and a clear break of it would strengthen a bullish condition.