Free Trial

Gold is having a quiet session, trading at.....>

GOLD
GOLD: Gold is having a quiet session, trading at $1207.1, as it digests last
Friday's gains which brought the metal through its 21-dma. While the larger
trend remains bearish, for the first time in a while bulls have the potential to
mount a recovery. 
- The drop in net non-commercial bullish positioning could be seen as a
contrarian bullish indicator for the metal considering the last time positioning
was negative was 2002, which preceded a spectacular bull market. 
- The recent decline in US real yields is also a positive, reducing the
opportunity cost of holding the metal. 
- The one element that does not support further gold gains is the ongoing
weakness in the commodity complex. Overall though, the outlook for Gold prices
has improved significantly since we highlighted the downside potential back in
May. 

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.