IAU closed at $36.94 after gaining 0.52% yesterday

Published: January 26 2023, 02:55 GMT+0

IAU closed at $36.94 after gaining 0.52% 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.

Nevertheless, data from United States concerning Crude Oil Inventories was released yesterday at 15:30 UTC. Newly published figures emphasized continued decline from last month's figure of 8.41 million to 533,000 this month.

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 came out at 4.27 million.

IShares Gold Trust shows positive signs, other assets are also on par: notably, AT&T rose 6.58% yesterday and closed at $19.16.

At the same time, NextEra Energy is down to $76.59, losing $7.31, after ending the previous session around $83.9. HDFC Bank Limited dips 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%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC.

Furthermore, the market is looking at United States Core Durable Goods Orders projected to decline to -0.2% while previous data was 0.1%; data will be released today at 13:30 UTC.

Also worthy of note, 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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