MNI BRIEF: Fed's Bostic - Rate Cut Likely At End of Year

MNI BRIEF: Fed Could Wait Until 2025 To Lower Rates - Kashkari

MNI BRIEF: Fed's Williams Says There's No Urgency To Cut Rates

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI: FED BALANCE SHEET TOTAL ASSETS -$33B TO $7.406T IN WEEK

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Holding On To Its Recent Gains

GOLD TECHS
  • RES 4: $1765.5 - High Aug 25
  • RES 3: $1745.6 - High Sep 29
  • RES 2: $1735.1 - High Sep 12 and a key resistance
  • RES 1: $1729.5 - High Oct 4
  • PRICE: $1721.7 @ 07:20 BST Oct 5
  • SUP 1: $1695.2/1659.7 - Former trendline resistance / Low Oct 3
  • SUP 2: $1615.0 - Low Sep 28 and the bear trigger
  • SUP 3: $1610.5 - 1.00 proj of the Jun 13 - Jul 21 - Aug 10 swing
  • SUP 4: $1569.1 - Low Apr 1 2020

Gold has traded sharply higher this week reinforcing the current short-term bull cycle. The rally has resulted in a break of the 20-day EMA. Note that the yellow metal has cleared a trendline resistance drawn from the Mar 8 high. The trendline intersects at $1695.2. Sights are on $1735.1, the Sep 12 high and a key short-term resistance. Initial support is at $1695.2, the former trendline resistance-now-support.

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.