MNI BRIEF: Canadians Fuzzy On How BOC Hikes Slow CPI, Government's Role

CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: BCB Evaluating Real Depreciation Impacts - Galipolo

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

MNI: BAKER HUGHES US RIG COUNT 581; OIL RIGS 479; GAS RIGS 97

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: BoE APF on Monday

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

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

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

Lower As Iran Downplays Israeli Attack

GOLD
Metals bulletHomepageBulletMarketsFixed Income BulletsForeign Exchange BulletsCommodities

Gold is 0.9% lower in today's Asia-Pac session, after closing 0.5% higher at $2391.93 on Friday.

  • Early on Friday bullion had spiked to an intra-day high of $2,418/oz following Israel’s missile strike on Iran. That gain was subsequently pared after Iran downplayed the attack.
  • That left US Treasuries to focus on ongoing strength in US economic data and the potential for rate cuts to be pushed further out this year. The Fed entered its media Blackout regarding policy on Friday.
  • Nevertheless, the yellow metal finished last week up 2.0%.
  • US Treasury yields are 2-4bps higher in today's Asia-Pac session.
  • According to MNI’s technicals team, the technical outlook for gold is still bullish and the next objective continues to be at $2452.5, a Fibonacci projection. Initial firm support is at $2293.4, the 20-day EMA.
132 words

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.

Gold is 0.9% lower in today's Asia-Pac session, after closing 0.5% higher at $2391.93 on Friday.

  • Early on Friday bullion had spiked to an intra-day high of $2,418/oz following Israel’s missile strike on Iran. That gain was subsequently pared after Iran downplayed the attack.
  • That left US Treasuries to focus on ongoing strength in US economic data and the potential for rate cuts to be pushed further out this year. The Fed entered its media Blackout regarding policy on Friday.
  • Nevertheless, the yellow metal finished last week up 2.0%.
  • US Treasury yields are 2-4bps higher in today's Asia-Pac session.
  • According to MNI’s technicals team, the technical outlook for gold is still bullish and the next objective continues to be at $2452.5, a Fibonacci projection. Initial firm support is at $2293.4, the 20-day EMA.