MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

Moderate Consumption Continues As Real Income Growth Stays Soft

MNI: US JUN PERSONAL INCOME +0.2%; NOM PCE +0.3%

Monthly Retail Sales Volatility Obscures Still-Positive 3m/3m Trend

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

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

Prices Climbing Back Despite Stronger Equities

GOLD

Gold gave up some of its gains on Friday after US Treasury yields rose following robust payroll data. It fell 1.6% to $2016.97/oz after reaching a low of just under $2000. It was still up 1.4% on the week though. Despite stronger risk appetite during the APEC session, bullion is up 0.4% today to $2024.45, close to the intraday high, as the USD index is weaker.

  • Gold fell briefly below resistance of $2000.40, the 20-day EMA, to a low of $1999.61 on Friday.
  • The World Gold Council said that central bank gold purchases slowed in Q1 but they remained strong from China which added to gold reserves for the 6th consecutive month in April.
  • US CFTC reported that net gold longs increased 5.6% as the yellow metal has found favour in an increasingly uncertain global economic environment.
  • Later today the Fed releases the Q1 loan officer survey and the May 2023 financial stability report. Also, the Fed’s Kashkari is moderating a panel discussion on minimum wages. The key piece of US data this week is Wednesday’s April CPI.
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.