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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.
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Free AccessSpot Gold Reaches All-time High
- Spot gold rose to a new all-time high Thursday, reaching $2,225.5/oz, before paring gains slightly. The yellow metal is currently up 1.2% on the day at $2,220/oz.
- The trend condition in gold remains bullish and moving average studies are in a bull-mode condition, reflecting positive market sentiment. This signals scope for a climb towards $2230.1, a Fibonacci projection. Key short-term trend support has been defined at $2146.2, the Mar 18 low.
- Crude oil markets ticked higher Thursday, riding support this week from Russian/Ukraine escalation, a lack of Middle East peace talks as well as struggling Venezuelan political progression.
- WTI MAY 24 is up 2.2% at $83.1/bbl.
- Next week’s OPEC JMMC is expected to recommend the group stays on the current trajectory as its members hold the path to shore up production and keep prices high.
- Meanwhile, US henry Hub prices slipped back after the EIA gas storage release, before recovering to new highs for the day.
- US Natgas MAY 24 is up 1.9% at $1.75/mmbtu.
To read the full story
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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.