FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

Consolidating At Weakest Level Since Early July

GOLD

Gold is little changed in the Asia-Pac session, after consolidating around the lowest level since early July on Friday. Further strength in the USD and rising bond yields weighed on bullion.

  • On Friday, US tsys finished 2-6bps cheaper across the major benchmarks, with the curve flatter, after July PPI printed firmer than expected (0.3% M/M vs 0.2% est.). Higher bond yields are typically negative for the precious metal, which doesn’t earn interest income.
  • The rise in US tsy yields has further to run, according to Bill Gross, who sees the fair value of the 10-year yield at about 4.5% compared with the current level of about 4.16%.
  • An overnight low of $1910.9 took another step closer to support at $1902.8 (Jul 6 low), according to MNI’s technicals team.
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.