Risk-on mood helps IAU post 0.52% gain yesterday

Published: January 26 2023, 05:55 GMT+0

Risk-on mood helps IAU post 0.52% gain yesterday

Yesterday at a glance: iShares Gold Trust ended Tuesday at $36.75. yesterday it went up to $36.95 only to drop back, yet still managed to close at $36.94.

On the flip side, United States Crude Oil Inventories published yesterday at 15:30 UTC came out at 533,000, falling short of the 971,000 projections and continuing its decline from the previous 8.41 million figure.

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.

Other markets are also showing gains as AT&T went up by 6.58% yesterday, and closed at $20.42.

Meanwhile, NextEra Energy lost 8.71% yesterday and closed at $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.

Also worthy of note, 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%.

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. IShares Gold Trust has gained 5.36% since its lowest print of $30.82 earlier this year.