IAU added 0.52% to close at $36.94 yesterday

Published: January 26 2023, 07:05 GMT+0

IAU added 0.52% to close at $36.94 yesterday

Yesterday at a glance: 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, following a previous reading of 8.41 million, Crude Oil Inventories in United States released yesterday at 15:30 UTC fell short of the 971,000 figure expected by analysts with an actual reading of 533,000.

Meanwhile, 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 went up by 6.58% yesterday, and closed at $20.42.

At the same time, NextEra Energy lost 8.71% yesterday and closed at $83.9. HDFC Bank Limited lost 6.31% yesterday and closed at $71.44.

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%, having previously been at -4%. The figure will be published tomorrow at 15:00 UTC.

Also worthy of note, United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of 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) is scheduled for tomorrow at 13:30 UTC.

The fund has been trending positively for about 3 months. IShares Gold Trust has gained 5.94% since its lowest print of $30.82 earlier this year.