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Down For The Fourth Consecutive Day

GOLD

Gold has registered a slight uptick in the Asia-Pac session, partially recovering from a 0.8% decline that brought it to a closing price of $2041.49 on Wednesday. The strength of the dollar played a pivotal role in Wednesday's decline, marking the fourth consecutive day of diminishing gold values.

  • US Treasuries finished little changed on Wednesday. The NY session saw choppy trading after the December FOMC Minutes release. The minutes were balanced but with a dovish tone as officials noted diminished inflation and the need to start a discussion of QT wind down.
  • Data released on Wednesday showed the ISM Manufacturing Index remaining in contraction territory for a 14th month at the end of 2023. Job openings eased in November to the lowest level since early 2021.
  • The market’s focus now turns to ADP private employment later today, followed by December employment data on Friday.
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