Gold prices edged back below USD $1300oz overnight, as a fall in jobless claims to their lowest level in years in the US, and a booming NY Empire State factory...

Jordan Eliseo

The Perth Mint

Gold prices edged back below USD $1300oz overnight, as a fall in jobless claims to their lowest level in years in the US, and a booming NY Empire State factory index print took some shine off the metal. Whilst these two data prints were well ahead of expectations, it wasn't all good news data wise in the US, with industrial production figures falling 0.6% for the month, whilst long term TIC flows were only $4Bn, with the Belgian 'mystery buyer' again stepping up to the plate, even as Russia continued its divestment of US Treasury securities. Price action today will help set the tone for next week, as a close above USD $1315 will be bulllish, whilst a move below the 100DMA (USD $1288oz) will encourage the bears As a trader I'm neutral. As a long-term holder for my SMSF and personal account, I topped up both yesterday. More details here (VIEW LINK)


Gold bull since early 2000. Have spent +20yrs working in investment analytics, research & portfolio construction. Author of two books on investing in gold and the causes of the GFC. Lover of markets, competition & technology

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