Free Trial

Gold shed $5/oz overnight, ignoring the........>

GOLD
GOLD: Gold shed $5/oz overnight, ignoring the global trade backdrop as the U.S.
Tsy confirmed that the prev. announced tariffs on China were scheduled to go
into effect at midnight ET, with U.S. President Trump noting that he is eyeing
up another $16bn in China tariffs in the coming weeks. Markets now await China's
response after the country's foreign minister hit out against the tariffs.
- Fresh 2018 & 7-month lows lacked follow through on Tuesday with an aggressive
bounce from below the long term rising trend line off of 2015 lows and ahead of
the key 200-WMA ($1233.8). Bears look for a close below the 200-WMA to confirm
breaks of key supports and initially target $1204.5. Bulls need a close above
$1262.7 to return pressure to $1273.5 where the 100-WMA is noted. Correcting
oversold studies are a concern for bears.
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.