Free Trial

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.

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.