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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.
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Gold is lower in Asia-Pac trade on Friday,.....>
GOLD: Gold is lower in Asia-Pac trade on Friday, the yellow metal last down
$1.61 at $1,321.38. Despite the slight drop gold is holding near highs from
Thursday, the precious metal briefly hit $1,326.07 before some touted black box
profit taking above $1,325. Gold is currently up 1.43% on the week and on track
for its 4th straight weekly gain.
- Gold rose yesterday as the USD weakened, DXY fell 0.4% yesterday to hit 3-week
lows but has bounced slightly in Asia trade, last at 91.853.
- Market now looks ahead to the NFP figure at 1330GMT after a strong beat in the
ADP survey yesterday.
- MNI technical analysis sees support at $1316.9 - Hourly resistance Jan 3 now
support, resistance is seen at $1334.8 - High Sept 13. Bulls take comfort in the
close above $1321.3 that reconfirms dominance and focus on $1357.5-1374.9 where
2016 & 2017 highs are situated. O/B daily studies remain the key concern for
bulls. In saying that, bears continue to look for a close below $1302.5 to ease
bullish pressure and below the 100-DMA to hint at a deeper sell-off with below
the 55-DMA ($1277.8) confirming.
To read the full story
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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.