IAU closed at $36.94 after gaining 0.52% yesterday

Published: January 26 2023, 03:40 GMT+0

IAU closed at $36.94 after gaining 0.52% 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.

Nevertheless, Crude Oil Inventories in United States fell short of market expectations (971,000) with a reading of 533,000, continuing the decline from the previous figure of 8.41 million.

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.

Other markets are also showing gains as AT&T skyrockets 6.58% yesterday and closed at $19.16.

At the same time, NextEra Energy crashes 8.71% yesterday and closed at $83.9. HDFC Bank Limited drops 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.

Furthermore, the market is looking at today at 13:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to -0.2% from the preceding figure of 0.1%.

The market is looking forward to the release of new data: United States Core PCE Price Index (MoM) (Dec) is expected tomorrow at 13:30 UTC.

The fund has been trending positively for about 3 months. IShares Gold Trust has managed to gain 5.36% so far this year despite trading at lows around $30.82 previously.

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