MNI: PBOC Net Injects CNY141.9 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1934 Thurs; -0.93% Y/Y

CHINA PBOC CONDUCTS CNY470.1 BLN VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1934 THURS VS 7.1935

MNI China Daily Summary: Wednesday, November 20

MNI BRIEF: Chinese Aluminium Exporters To Renegotiate Prices

EZ/UK Bond Supply Calendar: Spain, France Auction; UK Tender

US EIA: CRUDE OIL STOCKS EX SPR +0.54M TO 430.3M NOV 15 WK

MNI: US MBA: MARKET COMPOSITE +1.7% SA THRU NOV 15 WK

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

GOLD: Buoyed By Geopol Tensions

GOLD
Metals bulletBulletMarketsFixed Income BulletsForeign Exchange BulletsCommodities

Gold is steady in today’s Asia-Pac session, after closing 0.7% higher at $2650.60 on Wednesday, a third consecutive session of gains.

  • The move came amid a further increase in geopolitical tensions as Ukraine launched another long-range missile attack on Russia.
  • Despite the heightened geopolitical risk, analysts at Standard Chartered believe that macro factors, including the US dollar and rate-cut expectations, are likely to set the tone in the near term.
  • Federal Reserve Bank of Boston President Susan Collins said that more interest-rate cuts were needed, but policymakers should proceed carefully to avoid moving too quickly or too slowly.
  • Lower rates are typically positive for gold, which doesn’t pay interest.
  • According to MNI’s technicals team, the long-term trend condition in gold remains bullish, with the yellow metal piercing the 20-day EMA at $2,651.3 today.
  • A clear break above it would highlight a possible reversal and signal the end of the recent bearish corrective cycle, opening $2,710.4, the Nov 11 high.
153 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.

Gold is steady in today’s Asia-Pac session, after closing 0.7% higher at $2650.60 on Wednesday, a third consecutive session of gains.

  • The move came amid a further increase in geopolitical tensions as Ukraine launched another long-range missile attack on Russia.
  • Despite the heightened geopolitical risk, analysts at Standard Chartered believe that macro factors, including the US dollar and rate-cut expectations, are likely to set the tone in the near term.
  • Federal Reserve Bank of Boston President Susan Collins said that more interest-rate cuts were needed, but policymakers should proceed carefully to avoid moving too quickly or too slowly.
  • Lower rates are typically positive for gold, which doesn’t pay interest.
  • According to MNI’s technicals team, the long-term trend condition in gold remains bullish, with the yellow metal piercing the 20-day EMA at $2,651.3 today.
  • A clear break above it would highlight a possible reversal and signal the end of the recent bearish corrective cycle, opening $2,710.4, the Nov 11 high.