Free Trial

Precious Metals Trade Very Heavy in Early US Hours

GOLD

Gold trading very heavy as USD picks up markedly on those better than expected PMIs and as equities fly out of the gate on the cash equity open. Gold breaking below the Sep low support to hit the lowest levels since July 22nd.

MNI Tech points to support at the 38.2% retracement of the Mar - Aug rally at 1,837.10. A break through here opens July 8th highs of 1,818.00

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@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.