CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

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

The 50-Day EMA Remains Exposed

GOLD TECHS
  • RES 4: $1847.9 - High Jun 22
  • RES 3: $1825.1 - High Jun 30
  • RES 2: $1804.6 - Trendline resistance drawn from the Mar 8 high
  • RES 1: $1783.1 - 50-day EMA
  • PRICE: $1769.4 @ 07:18 BST Aug 4
  • SUP 1: $1748.9 - 20-day EMA
  • SUP 2: $1711.7/1681.0 - Low Jul 27 / 21
  • SUP 3: $1680.5 - 1.764 proj of the Mar 8 - 29 - Apr 18 price swing
  • SUP 4: $1676.9 - Low Mar 8 2021

Gold maintains a firmer tone despite the pullback from Tuesday’s high. Attention is on resistance at the 50-day EMA, at $1783.10. The average has been pierced, a clear break though would suggest potential for a bullish extension and expose trendline resistance at $1804.6. A breach of the trendline would represent an important technical break. On the downside, initial firm support lies at $1711.7, the Jul 27 low. Key support is at $1681.0.

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.