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Gold kicks off the New Year on the front foot
Gold has advanced so far today. The metal closed out 2024 above its 100 day moving average on Tuesday evening, at $2,624.50. It has lifted to a high so far today, at $2,636.57. The gains this morning come as the USD/JPY drifts back underneath 157 and the US equity futures rise. The 100 day moving average is still rising and in place this morning at $2,621.10. At the same time, the 50 day moving average is still falling and in place at $2,658.80. So, as you can see, the two are still converging and as noted earlier this week, eventually we are going to get a potentially directional break out. Gold is currently trading at $2,634.10
Market News
All News-
Nasdaq 100 drops off best levels
The Nasdaq 100 closed last night at 21,900. It reopened this afternoon at 21,915 and rose swiftly, so set a new 2025 high, at 21,945. It has now... -
Will the DAX post a negative outside day reversal today?
The DAX is just now falling back underneath 21,400. The index set a new all time high earlier today, at 21,520. It had closed yesterday at 21,411 and... -
Mixed US PMI data sends dollar lower- EUR/USD lifts towards 1.05 again
The US flash PMI data has just been released and it was a mixed bag. Manufacturing beat estimates, rising from 49.4 to 50.1. However, services fell...
