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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.
GOLD
Gold has broken higher in the first part of Monday Asia Pac dealings. The precious metal got to a high of $2018.21, but we now sit back near $2012. This is 0.55% firmer, after closing last week near $2001.
- This spike has pushed the precious metal to fresh highs back to May of this year, see the chart below. Recent highs close to $2010, seen through late Oct and earlier in Nov have been comfortably breached, which may have contributed to today's move.
- Earlier May highs just above $2050 may now be eyed by bulls.
- Broader USD sentiment is softer, which may be helping the gold move, although the BBDXY is still above recent lows. US yields are higher for the session but away from best levels.
Fig 1: Gold Spikes To Fresh Multi Month Highs
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.
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