IAU closed at $36.94 after gaining 0.52% yesterday

Published: January 26 2023, 05:10 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.

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. Fresh Cushing Crude Oil Inventories data from United States came out at 4.27 million.

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

At the same time, after ending yesterday's session at $83.9, NextEra Energy lost $7.31 and is trading around $76.59. 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%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC.

Also worthy of note, 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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