Gold Oct '22 (GCV22)
Gold Futures Market News and Commentary
The dollar index (DXY00) on Monday rose by +0.77%. The dollar Monday climbed for the fifth consecutive session and posted a new 20-year high. Soaring T-note yields Monday pushed the dollar higher after the 10-year T-note yield rose to a 12-year high of 3.902%. Also, slumping equity markets boosted the liquidity demand for the dollar. Finally, Monday’s plunge in GBP/USD to a record low and the fall in EUR/USD to a 12-year low supported the dollar.
Comments Monday from Boston Fed President Collins were hawkish for Fed policy and bullish for the dollar when she said, "returning inflation to target will require further tightening of monetary policy, as signaled in the recent FOMC projections."
U.S. economic news Monday was bearish for the dollar. The Aug Chicago Fed national activity index fell -0.29 to 0.0, weaker than expectations of a decline to 0.23. Also, the Sep Dallas Fed manufacturing outlook level of general business activity unexpectedly fell -4.3 to -17.2, w... Read more
- Global Crude Steel Output Dipped in Jan-Aug '22
The African countries witnessed 7.4% dip in output to 9.7 Mt during the eight-month period.
- 23rd September, 2022: Chinese Scrap Metal Prices Witnessed Notable Dip on Index
The prices of Old Sheets dropped by CNY 50 per MT on Index.
- 26 September 2022, Knight Performance & Position Update Trading the 1, 3 & 5 Hour EMA 9-18s
Sections in this report - 1) Chart links to duplicate trades as they occur 2) Daily performance update trading the hourly 9-183) Daily Performance update...
- WBMS: World Nickel Market Posted Deficit in First Seven Months
The monthly smelter/refinery production of nickel totalled 242.6 kt in July 2022. At the same time, monthly demand totalled 235.6 kt.
- Glencore to Acquire Newmont's Stake in MARA Copper-Gold Mine Project
Following the completion of the transaction, Glencore will have 43.75% ownership of MARA.
- Dollar Climbs on Weak Stocks and Surging T-note Yields
The dollar index (DXY00 ) on Monday rose by +0.77%. The dollar Monday climbed for the fifth consecutive session and posted a new 20-year high. Soaring...