Free Trial

Rallying Following Soft U.S. Data, Technical Consolidation Theme Intact

GOLD

The generally softer-than-expected U.S. labour market and ISM services survey data allows gold to break above $2,360/oz, adding over $30/oz as the USD softens and Tsys rally.

  • Our technical analyst notes that spot continues to trade in consolidation mode.
  • Initial firm resistance is located at the Jun 7 high ($2,387.8/oz)
50 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.

The generally softer-than-expected U.S. labour market and ISM services survey data allows gold to break above $2,360/oz, adding over $30/oz as the USD softens and Tsys rally.

  • Our technical analyst notes that spot continues to trade in consolidation mode.
  • Initial firm resistance is located at the Jun 7 high ($2,387.8/oz)