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Intraday Vol., But No Range Breaks

GOLD

A narrow round of Asia-Pac trade sees spot gold deal little changed, hovering around ~$1,810/oz. To recap, Friday’s firmer than expected U.S. NFP release provide a second consecutive day of volatility for bullion, but spot failed to break out of the recently observed range, in a session that looked very much like Thursday in terms of price action. A pullback from intraday highs in both U.S. real yields (as proxied by our weighted monitor) and the USD (as measured by the DXY) allowed bullion to stabilise and then recover pre-NFP losses, with well-trodden technical parameters remaining untouched.

  • Thursday's U.S. CPI print presents the major event risk for participants this week.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities

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