IAU added 0.52% to close at $36.94 yesterday

Published: January 26 2023, 00:41 GMT+0

IAU added 0.52% to close at $36.94 yesterday

A quick look at yesterday: after ending Tuesday at $36.75, iShares Gold Trust went up to $36.95 only to drop back, yet still traded well overall and closed at $36.94 yesterday.

On the flip side, highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading of 533,000.

At the same time, United States 5-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. United States Cushing Crude Oil Inventories released yesterday at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

IShares Gold Trust shows positive signs, other assets are also on par: AT&T is trading around $20.42 after ending yesterday's session at $19.16 (up 6.58% today).

Meanwhile, NextEra Energy is down to $76.59, losing $7.31, after ending the previous session around $83.9. After ending yesterday's session at $71.44, HDFC Bank Limited lost $4.51 and is trading around $66.93.

Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Pending Home Sales is projected to outperform its last figure with -0.9%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC.

Furthermore, the market is looking at projections for United States Core Durable Goods Orders are set for a continuation of decline with -0.2% while previous data was 0.1%; data will be released today at 13:30 UTC.

Furthermore, the market is looking at United States Core PCE Price Index (MoM) (Dec) scheduled to come out tomorrow at 13:30 UTC.

The fund has been trending positively for about 3 months. This year has been a bright one for iShares Gold Trust after trading as low as $30.82 and going on to appreciate by 5.36% year to date.

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