Senior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
- Gold and silver prices are slightly down in early U.S. trading Monday, as U.S. Treasury yields are on the rise and at multi-year highs, while the U.S. dollar index overs near its 6.5-month high. The gold market bears remain confident after last week's monetary-policy-hawkish FOMC meeting of the Federal Reserve. December gold was last down $1.90 at $1,943.70 and December silver was down $0.019 at $23.825.
Traders and investors are in risk-off moods to start the trading week, amid the high potential for a U.S. government shutdown. The U.S. House and Senate return Tuesday after a long weekend in observance of Yom Kippur. The Senate will vote on a measure Tuesday to take up a short-term funding solution, called a continuing resolution.
The key outside markets today see the U.S. dollar index slightly higher and near a 6.5-month high. Nymex crude oil prices are firmer and trading around $90.50 a barrel. The benchmark U.S. Treasury 10-year note yield is presently at a multi-year high and fetching around 4.5%--the highest since 2007. Technically, the gold futures bears have the firm overall near-term technical advantage. Prices are in a four-month-old downtrend on the daily bar chart. Bulls' next upside price objective is to produce a close in December futures above solid resistance at the September high of $1,980.20. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the August low of $1,913.60. First resistance is seen at $1,950.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Monday’s analyst upgrades and downgradesInside the Market’s roundup of some of today’s key analyst actions
Read more »
Senior Nomura Banker Barred From Exiting China, FT Says(Bloomberg) -- A senior banker at Nomura Holdings Inc. has been barred from leaving China in a move connected to a long-running investigation of a top dealmaker in the country, the Financial Times reported.Most Read from BloombergChinese Gold Buying Is Driving a Paradigm Shift in BullionIndians Have Five Days to Deposit $3 Billion in Soon-to-Be-Withdrawn BanknotesIndia-Canada Clash Should Be a Wakeup CallWells Fargo Preps for Wealth Battle After $1 Billion TurnaroundCorzine Plans to Shut Hedge F
Read more »
China bans Nomura senior investment banker from leaving mainland -sourcesAuthorities in China have ordered a senior Nomura Holdings banker overseeing the firm's investment banking operations there not to leave the mainland, two sources with knowledge of the matter said. Charles Wang Zhonghe, China investment banking chairman at Nomura, is prohibited from travelling outside the mainland, said the sources, who sought anonymity as they were not authorised to speak to media. Wang was based in Hong Kong, his LinkedIn profile showed, though his nationality was not immediately known.
Read more »
China bans Nomura senior investment banker from leaving mainland -sourcesHONG KONG (Reuters) - Authorities in China have ordered a senior Nomura Holdings banker overseeing the firm's investment banking operations there not ...
Read more »
Exclusive-Senior US officials traveling to Armenia as Karabakh's Armenians start to leaveBy Daphne Psaledakis WASHINGTON (Reuters) - Senior Biden administration officials were to arrive in Armenia on Monday, a U.S. official told Reuters, ...
Read more »
Exclusive-Senior US officials traveling to Armenia as Karabakh's Armenians start to leaveBy Daphne Psaledakis WASHINGTON (Reuters) - Senior Biden administration officials were to arrive in Armenia on Monday, a U.S. official told Reuters, ...
Read more »