DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Gold has lost around $2.34 on the Asia.........>

GOLD
GOLD: Gold has lost around $2.34 on the Asia session from Friday's highs, the
precious metal was last at $1271.60. Gold rallied on Friday amid speculation
U.S. President Trump was leaning towards Jerome Powell for Fed chair, Powell in
the past has expressed his support for current Chair Janet Yellen's stance on
interest rates and is considered 'dovish.' Gold was also supported by the
tension in Spain, Carles Puigdemont the Catalonian leader was dismissed after
formally declaring independence. The markets also await the FOMC meeting this
coming Wednesday. 
- MNI Technical analysis sees support at $1261.3 - Bollinger band base and
resistance at $1275.1 - 100-DMA. Bears take comfort from a close below the
100-DMA that confirmed focus on $1243.8-1260.6 where the 200-DMA and channel
base are situated. Bears now need a close below $1243.8 to shift focus to
$1194.9-1204.9 where July lows are noted. Layers of resistance are weighing with
bulls now needing a close above $1283.7 to ease bearish pressure & initially
correct back to $1291.1-1297.0 where the 55-DMA is found.
Energy BulletsCommodities
Energy BulletsCommodities

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.