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MNI BRIEF: Investors Increasingly Eyeing Fiscal Policy -ECB VP

CANADA OCT FLASH RETAIL SALES +0.8%

MNI China Daily Summary: Friday, Nov 24

EZ/UK Bond Supply Calendar: EU-Bond Auct / BOE APF Op Monday

MNI: US NOV FLASH SERVICES PMI 50.8 (FCST 50.4); OCT 50.6

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

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

MNI BRIEF:Macklem-Fiscal Policy Turning Unhelpful On CPI Fight

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

Rates & Hope Re: Israel-Hamas Hostage Situation Offset Weaker USD, Techs Remains Bullish

GOLD
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Spot gold is effectively unchanged, just below $1,980/oz, consolidating last week’s rally.

  • Note that early Monday trade sees the impact of a lower USD and slightly higher U.S. Tsy yields largely offsetting when it comes to gold.
  • U.S.-derived hope re: the Israeli-Hamas prisoner situation will also be capping any support derived from the same USD weakness.
  • Technically, the trend condition in gold remains bullish and recent gains reinforce this theme. Furthermore, MA studies are in a bull-mode set-up, highlighting a rising trend cycle. A stronger resumption of gains would open $2,022.20/oz, May 15 high. The bull trigger is at $2,009.4/oz, the Oct 27 high, providing protection.
  • On the flow side, known ETF holdings of gold actually fell last week, despite the rally in bullion.
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Spot gold is effectively unchanged, just below $1,980/oz, consolidating last week’s rally.

  • Note that early Monday trade sees the impact of a lower USD and slightly higher U.S. Tsy yields largely offsetting when it comes to gold.
  • U.S.-derived hope re: the Israeli-Hamas prisoner situation will also be capping any support derived from the same USD weakness.
  • Technically, the trend condition in gold remains bullish and recent gains reinforce this theme. Furthermore, MA studies are in a bull-mode set-up, highlighting a rising trend cycle. A stronger resumption of gains would open $2,022.20/oz, May 15 high. The bull trigger is at $2,009.4/oz, the Oct 27 high, providing protection.
  • On the flow side, known ETF holdings of gold actually fell last week, despite the rally in bullion.