Close: London Session | Forex, Metals, Oil, Agriculture January 13, 2021

Currencies

Spot gold prices eased, as the dollar firmed and U.S. Treasury yields held close to recent highs, with investors awaiting for more details on American fiscal stimulus measures. Spot gold prices eased, as the U.S. dollar firmed and U.S. Treasury yields held close to recent highs, with investors awaiting for more details on American fiscal stimulus measures. Note that after a strong 25% gain last year, gold prices have wavered this year amid a rise in US bond yields and rebound in US dollar.
The recent rally in the US Treasury yields and dollar also paused, helping support gold at lower levels. He cited the continuing downward trend of the dollar and the still negative real yields that makes the metal an attractive investment. less The prices of gold rose on Wednesday as the recovery of U.S. Treasury yields and the dollar slowed down. FOREX: Stabilising U.S. Treasury yields helped the dollar trade back in positive territory, though investors remained bearish on the currency’s near-term prospects.
The US Dollar Index declined by 0.15% in the overnight session ahead of an important stimulus speech by Joe Biden and the rising US Treasury yields. The US dollar weakened due to lower bond yields and increased demand for risk assets. The Chinese economy (in dollar terms) is now expected to overtake the US in 2028, five years earlier than estimated just a year ago.

Metals

On MCX, February gold futures were up 0.7% to Rs 49,410 per 10 gram while silver prices gained 0.6% to Rs 6,279 per kg. In 2002 when gold was $300 per ounce, MAM recommended to its investors to put 50% of their investment assets into physical gold stored outside the banking system. The Gold Analyst offers quality technical and fundamental analysis of the price of gold to help educate readers in their investment decisions. Gold prices are trading up 0.7% at Rs 49,389 per 10 grams.
The GoldSwitzerland Division was created to facilitate the buying and storage of physical gold and silver for private investors, companies, trusts and pension funds. Tracking positive global cues, gold prices moved higher in Indian markets. The Fed will take some significant actions over the course of this year, and that will drive gold and silver higher. In global markets, gold rates edged higher today, boosted by rising coronavirus cases worldwide. But he expects some dips or short-term decline in gold prices as the market balances out.
Silver, like gold, rallied through December and into the start of January, anticipating increasing government control by the Democrats.

Oil

MARKETS TODAY OIL: Oil prices steadied after an early jump as industry data showing a bigger-than-expected drop in U.S. crude inventories, but rising global COVID-19 infections capped price gains. Saudi Arabia this month pledged additional, voluntary oil output cuts, sending oil prices to the highest in nearly a year. National oil companies are a major force in the global energy sector, controlling approximately three-quarters of the Earth’s oil reserves. I have worked in the areas of oil refining, natural gas production, synthetic fuels, ethanol production, butanol production, and various biomass to energy projects.
Oil was slightly higher as industry data showing a bigger-than-expected drop in U.S. crude inventories, but rising global COVID-19 infections capped gains. While the Energy Information Administration draw may be less, the overall trend for our supply and oil production for that matter, still is on a downward trajectory. EIA forecasts that OPEC crude oil production will rise by 1.1 million b/d in 2022.
Oil was slightly higher as industry data showing a bigger-than-expected drop in U.S. crude inventories.
Crude oil prices closed above 53 dollars as bullish momentum is building as supplies tighten. The oil market trend towards our near-term target of $55 is intact and while we may see a pullback from that area, this summer, prices will be much higher.

United States

— Wednesday ahead of key inflation data and a vote by lawmakers on impeaching President Trump during his final week in office. The figure during the corresponding period last year to the US was 3,519 tonnes valued at ₹189.89 crore and for West Asia, it was 16,084 tonnes at ₹910 crore. US stock futures are trading higher today, indicating a positive opening for Wall Street indices. Since 2008, the US$ has created a series of higher lows and higher highs inside of rising channel (1).
The news that Lenovo would join the STAR Market, China’s answer to the Nasdaq, boosted its Hong Kong-traded shares, which on Wednesday hit their highest level since 2015. Trump’s channel is now prevented from uploading new videos or livestreams for a minimum of seven days, which may be extended, Youtube said in a statement. Cheney, Rep. John Katko (R-New York), Rep. Adam Kinzinger (R-Ill.) and Rep. Fred Upton (R-Mich.) said they would vote to impeach Trump.
Nasdaq Futures are trading up by 29 points (up 0.2%) while Dow Futures are trading up by 41 points (up 0.1%). Coming up…Investors looking for guidance on Fed policy have no fewer than five speakers today, and the publication of the Beige Book at 2:00 p.m. to look forward to. Paid Post There’s a reason over 2.5 million people start their day with Morning Brew the daily email that delivers the latest news from Wall Street to Silicon Valley.

China

A third goal might have been to weaken the position of Xi Jinping, who has been moving China in a more repressive and nationalistic direction. For all the talk of his growing power, Chinese President Xi Jinping has not been having a good year.

Europe

Today, in a speech in which she mentioned Bitcoin and central bank digital currencies, Christine Lagarde, the President of the European Central Bank, said that Bitcoin needs regulation. Before the upturn, the price action dropped to 1.2137 amid a decline in the EURGBP cross pair, as well as statements from Angela Merkel. There was little meaningful news flow in the day with just EU Industrial Production on the docket which beat significantly rising 2.5% versus 0.2% eyed.
Following Britain’s breakoff from the European Union, the bloc is under pressure to bolster the capabilities of the continent’s financial institutions, some analysts say. Some have been critical of the new EU-China investment agreement struck at the end of last year. Separately, Johnson & Johnson is likely to apply for EU approval for its COVID-19 vaccine candidate in February, a top lawmaker said. Dara Doyle Track the vaccines More Than 30.5 Million Shots GivenThe U.S., China and European Union are leading the way.

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