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Weekly Summary

A bearish end to the trading week, Gold remains in the 1,864.3 range after starting the week at 1,952 and dropping 87.8 dollars.

This downslide might be related to financial indicators data published earlier as United States Manufacturing PMI beats expectations of 53.1 with new data release of 53.5. This is also a step forward from the previous data of 53.1.

Nonetheless, encouraging indicators for Gold published earlier when United States Core Durable Goods Orders fall short of the 1.2 projections, with 0.4 and continued its downward trajectory from previous figure of 3.2. United States Initial Jobless Claims fall short of the 840 projections, with 870 and continued its downward trajectory from previous figure of 866.

At the same time USD/MXN is up 0.97% to 22.336 USD/ZAR gained 1.07%, currently at 17.1136

Gold social media highlights:

Sep. 25, 2020

At 1,854 Gold down to its lowest value in 2 months

(22:24) GMT

Gold drops 12.6 dollars early on and stays at 1,864.3 range.

On the flip side United States Core Durable Goods Orders fall short of the 1.2 projections, with 0.4 and continued its downward trajectory from previous figure of 3.2. United States Initial Jobless Claims fall short of the 840 projections, with 870 and continued its downward trajectory from previous figure of 866.

At the same time USD/MXN is trading around 22.336 after starting the session at 22.1224 (up 0.97%). USD/ZAR is trading around 17.1136 after starting the session at 16.9328 (up 1.07%).

Gold social media highlights:

Sep. 24, 2020

Gold steady at 1,875.2, no significant movement

(22:24) GMT

With no clear-cut direction Gold trading at 1,875.2 after ranging today between 1,875.2 and 1872.

This in-between state for Gold is reflected by market data published as United States Manufacturing PMI beats expectations of 53.1 with new data release of 53.5. This is also a step forward from the previous data of 53.1. United States Crude Oil Inventories beats expectations of -2.325 with new data release of -1.639. This is also a step forward from the previous data of -4.389.

Meanwhile, mixed performance are seen elsewhere as USD/MXN is trading around 22.1562 after starting the session at 22.3322 (down 176 pips). USD/ZAR is trading around 16.9335 after starting the session at 17.1149 (down 181 pips).

Data to be released later might clear up some of the fog for Gold as Projections for United States Core Durable Goods Orders are set for a continuation of decline with 1.2 while previous data was 2.6, data will be released tomorrow at 12:30 PM.

Gold social media highlights:

Sep. 23, 2020

At 1,865.4 Gold down to its lowest value in 2 months

(22:24) GMT

After starting the day at 1,868.4 Gold went up to 1,868.8 only to drop back to starting point range and now trading at 1,866.

This downslide might be related to financial indicators data published earlier as Data for United States Manufacturing PMI released today at 1:45 PM comes out at 53.5, beating projections of 53.1 and showing improvement over the preceding figure of 53.1. Data for United States Crude Oil Inventories released today at 2:30 PM comes out at -1.639, beating projections of -2.325 and showing improvement over the preceding figure of -4.389. United States Existing Home Sales released Tuesday 2:00 PM with a figure of six, this is better from previous number of 5.86.

At the same time USD/MXN gained 3.17%, currently at 22.3641 USD/ZAR is trading around 17.1128 after starting the session at 16.7893 (up 1.93%).

Gold social media highlights:


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Sep. 22, 2020

At 1,902.7 Gold down to its lowest value in 5 weeks

(22:24) GMT

With no clear-cut direction Gold trading at 1,905.2 after ranging today between 1,905.5 and 1,902.7.

This downslide might be related to financial indicators data published earlier as United States Existing Home Sales beats expectations of six with new data release of six.

On the flip side United States Chicago Fed National Activity (Aug) fall short of the 1.95 projections, with 0.79 and continued its downward trajectory from previous figure of 2.54. United States Richmond Manufacturing Index (Sep) is released with a new figure of 21, this is down from preceding data of 18.

Taking a wider perspective, performance of these other symbols usually suggest a setback for Gold as Swiss franc is trading around 0.92 after starting the session at 0.9145 (down 0.6%).

At the same time USD/MXN gained 1.75%, currently at 21.712

Gold social media highlights:

Sep. 21, 2020

After starting the day at 1,910.6, Gold crawls to 1,918.2 (up 7.6 dollars)

(22:24) GMT

After starting the day at 1,910.6 Gold went up to 1924 only to drop back to starting point range and now trading at 1,918.2.

Gold green move comes while some more encouraging signs are out as United States Chicago Fed National Activity (Aug) fall short of the 1.95 projections, with 0.79 and continued its downward trajectory from previous figure of 2.54. Data for United States 6-Month Bill Auction was released today at 3:30 PM suggests a downwards trend with 0.105, while previous data was 0.12. United States 3-Month Bill Auction is released with a new figure of 0.1, this is down from preceding data of 0.11.

In the meantime, USD/ZAR added 2.96% to its value, now trading at 16.8011 USD/MXN is trading around 21.3546 after starting the session at 21.13 (up 1.06%).

Gold social media highlights: