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GOLD: Fresh All-Time High Ahead Of Heavy Calendar Of US Data & Fed Speakers

GOLD
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Gold is little changed in today’s Asia-Pac session, after climbing to a fresh record high of $2,670 in Wednesday’s session.

  • Yesterday’s move in bullion came despite a bear-steepening of the US Treasury curve ahead of today’s flood of data and Fed speakers not to mention next week's September employment data.
  • Today’s US calendar includes Weekly Claims, GDP, PCE, Cap Goods, Durables, and Pending Home Sales data alongside a flurry of Fed speakers: Barr, Cook, Kashkari, Williams and Chairman Powell.
  • Lower rates are typically positive for gold, which doesn’t pay interest.
  • According to MNI’s technicals team, moving average studies are in a bull-mode set-up, highlighting a clear uptrend and positive market sentiment. The focus is on $2675.5 next, a Fibonacci projection.
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Gold is little changed in today’s Asia-Pac session, after climbing to a fresh record high of $2,670 in Wednesday’s session.

  • Yesterday’s move in bullion came despite a bear-steepening of the US Treasury curve ahead of today’s flood of data and Fed speakers not to mention next week's September employment data.
  • Today’s US calendar includes Weekly Claims, GDP, PCE, Cap Goods, Durables, and Pending Home Sales data alongside a flurry of Fed speakers: Barr, Cook, Kashkari, Williams and Chairman Powell.
  • Lower rates are typically positive for gold, which doesn’t pay interest.
  • According to MNI’s technicals team, moving average studies are in a bull-mode set-up, highlighting a clear uptrend and positive market sentiment. The focus is on $2675.5 next, a Fibonacci projection.