MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

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

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

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

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

Slightly Lower After The Largest Weekly Gain In Two Months

GOLD

Gold is slightly lower in the Asia-Pac session after its largest weekly gain in two months. Bullion closed 0.5% higher at $2035.40 on Friday.

  • The yellow metal was supported by lower US Treasury yields on Friday. There was no obvious driver for the move. Short covering, bargain hunting, and technical buying supported US tsys, with the 10-year yield declining 7bps to 4.25%. The front end underperformed ahead of 2- and 5-year auctions later today.
  • Gold traded lower into mid-month but is building well off lows and extended further above the 50-dma on Friday, according to MNI’s technicals team.
  • A sustained clearance above this point and above the Feb 1 high of $2065.50 would be required to reinstate a bullish theme, with the mid-month weakness proving corrective in nature.
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.