CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Gold Suffers as US Yields Rise Back Toward Yesterday's Highs

GOLD
  • Gold prices fade through to the NY crossover, with gold prices stable just above the day's fresh pullback lows at $2,036.6. Moves coincide and are closely tracking the uptick in Treasury yields, with US 10y yields inching to a new daily high at 4.3476% - still shy of yesterday's best levels.
  • The gold/silver ratio remains under pressure, but today's weakness in silver has aided a recovery off the multi-month low printed overnight at 80.2 - putting the gauge toward the lower-end of the YTD range.
  • Despite today's modest weakness, the broader trend condition in Gold remains bullish after resistance at $2009.4 gave way. Any extension higher makes 2063.0, the May 4 high, the next viable target ahead of all-time highs at $2070.4 (Mar 8 ‘22).
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.