Overnight: After surging from $2304 to a 3wk high at $2360 (resistance at down trendline from 4/12 $2432 ATH held) in its last 2 sessions, gold pulled back overnight. The yellow metal retreated in a range of $2365 – $2339, and fell below Friday’s $2345 low. Gold’s decline was buffered by a modest decline in…
Overnight: Gold was fairly steady overnight and traded narrowly between $2307 – $2320. The yellow metal was largely able to shrug off some potentially bearish developments, and find support ahead of yesterday’s $2304 low: Weaker equities were gold supportive, however, with S&P futures off 18 to 5195. Losses at Arm (guided lower), Airbnb (disappointing guidance),…
Overnight: Gold was a bit choppy last night and either side of unch ($2314), trading between $2304 – $2321. It was pressured on the downside by an improving US dollar, as the DX advanced from 105.41 – 105.64. The greenback was helped by: However, gold was supported by a rate cut by the Sweeden’s Riksbank…
Overnight: Gold traded lower last night, declining in a range of $2330 – $2310. It faded strength in the US dollar as the DX improved from 105.03 – 105.31. The greenback was helped by: Though the US 2yr yield was either side of unch (4.822%), the US 10yr yield was a bit lower and gold…
Overnight: Gold was steady overnight, trading narrowly and either side of unchanged ($2304) between $2297 – $2309, awaiting the US Payroll Report. A lack of significant overseas economic reports, and with the Bank of Japan holding its fire last night, currency markets / US dollar provided little direction for gold (DX stable but with a…
Overnight: Range $2295 – $2326 After a pullback from its dovish Powell inspired high of $2328 to $2307, gold was lifted back to $2326 late yesterday afternoon by currency intervention by the BOJ. The Bank intervened for the 2nd time this week (this one around around $23B), trying to add / pile on to yen strength…
Overnight Activity Gold showed more stability last night coming off its $49 decline yesterday, but lacked a significant corrective bounce. It traded a bit more narrowly and either side of unchanged ($2286) in a range of $2282 – $2297 ahead of this afternoon’s FOMC announcement and Powell Presser. The yellow metal slipped to its $2282…