Risk-on sentiment allowed IAU to post 0.52% gain yesterday

Published: January 26 2023, 04:40 GMT+0

Risk-on sentiment allowed IAU to 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.

Nevertheless, United States Crude Oil Inventories fell short of the 971,000 projections, with new data 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.

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

Meanwhile, NextEra Energy is down to $76.59, losing $7.31, after ending the previous session around $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, 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%.

Elsewhere, United States Core PCE Price Index (MoM) (Dec) will be released 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.