Free Trial

Gold Off Lows Seen In Wake Of FOMC Minutes

GOLD

U.S. real yield dynamics are outweighing USD's influence on gold prices in Asia-Pac hours, although the DXY is only marginally firmer on the day at typing. The richening of real yields has put a marginal bid into gold prices after the minutes of the Fed's most recent monetary policy decision indicated no real rush re: the introduction of deeper forward guidance/yield curve control policy, which saw real yields cheapen and the DXY advance in late NY trade, pressuring gold.

  • Spot last deals +$11/oz at $1,940/oz, with initial support now located at the Aug 13 low, $1,912.9/oz. Key resistance is still located at the Aug 11 high, $2,030/oz.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.