Free Trial

Lower On Move Higher In USD & Tsy Yields, Tech Support Untouched & Some Way Below

GOLD

The combination of the broader USD bid & post-long weekend adjustment higher in U.S. Tsy yields (both covered in detail elsewhere) pressures bullion, leaving spot -$16.5/oz at $2,040/oz, a little above pre-NY lows ($2,038.8/oz).

  • Technically, gold continues to trade above last week’s low ($2,013.4/oz), which is protected by key support in the form of the 50-day EMA ($2,016.8/oz). A breach of both would expose a key level at the Dec 13 low ($1973.2/oz). For bulls, clearance of the Dec 28 high ($2,088.5/oz) would reinstate the bull cycle that started Dec 13.
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.