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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.
GOLD
- Bullish momentum on XAUCNY has been halted by the 200D SMA resistance (12,116) in the past two weeks following the sharp recovery in gold prices since the beginning of March.
- We have seen that the major drivers of gold have been sending mixed signals in recent weeks; while the low US 5Y real yields and the weak USD have been pricing in higher gold prices, the fall in the total amount of negative yielding debt and the deceleration in the annual change in CBs assets are pricing in lower gold prices.
- ST resistance to watch on the topside (above 200D SMA) stands at 12,272, which corresponds to the 38.2% resistance of the 10,944 - 14,421 range; on the downside, first support stands at 11,870, the low of its upward trending channel, followed by 11,765 (23.6% Fibo).
Source: Bloomberg/MNI
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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