Free Trial
OIL

Europe Oil Inventories Increased in October

OIL

Crude and Cracks Decline Before EIA Data

CORN TECHS

(Z2) Watching Key Support

STIR

SOFR Call Spd

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Fresh Lows Back To 2020

GOLD

Gold has seen little support today, despite fresh risk aversion flows in the market. The precious metal last tracked just under $1639 (-0.30% for the session). On-going USD strength, particularly against the pound, has been the main driver of sentiment today.

  • We dipped below $1630 briefly in earlier trade today, before rebounding. We have since not drifted too far away from the $1638/$1642 region, although the bias remains skewed to the downside.
  • Lows close to $1600 from early April 2020 around $1610 are the likely next target.
  • We continue to see higher core yields. To the extent this weighs on broader equity market sentiment further could benefit gold at some stage but with this could be countered by further on-going USD strength.
122 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Gold has seen little support today, despite fresh risk aversion flows in the market. The precious metal last tracked just under $1639 (-0.30% for the session). On-going USD strength, particularly against the pound, has been the main driver of sentiment today.

  • We dipped below $1630 briefly in earlier trade today, before rebounding. We have since not drifted too far away from the $1638/$1642 region, although the bias remains skewed to the downside.
  • Lows close to $1600 from early April 2020 around $1610 are the likely next target.
  • We continue to see higher core yields. To the extent this weighs on broader equity market sentiment further could benefit gold at some stage but with this could be countered by further on-going USD strength.