MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI China Daily Summary: Friday, December 13

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Silver Briefly Rises To 7-Week High Despite USD Strength

METALS
  • With the dollar index rising a notable 0.6% on Tuesday amid higher US yields and lower equity indices, gold (-0.33%) has edged away from key resistance at $1831.9, Jan 3 high and a bull trigger.
  • With market participants potentially side-lined approaching the fed, short-term dynamics may leave the yellow metal susceptible to further renewed optimism for the greenback. From a technical standpoint, a move below $1782.8 would be needed to highlight a deterioration of the short-term bullish outlook, signified by a channel breakout.
  • Silver, on the other hand, has diverged from its precious metal counterpart and is seen 1.7% higher on the session. Prices peaked at $23.64/oz, representing a 7-week high and the largest one day dollar and percentage gain since Thursday, Dec. 16.
    • Maintaining a firmer short-term tone, attention is on the break of key resistance at $23.436, Dec 28 high. Clearance of this level strengthens the case for bulls and signals potential for a stronger recovery towards $23.886, 61.8% of the Nov - Dec sell-off.
  • In other metals news: The U.S. and U.K. plan this week to announce the start of talks to ease steel and aluminium tariffs that the Trump administration imposed on national-security grounds, aiming to remove a long-standing irritant in their trade relationship. (BBG)
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.