Gold rose to another record high price in early trade here in Asia and then kept adding higher throughout the morning. As I update its above US$3452 USD3472 (I can't keep up!). . The catalysts are familiar:
central banks buying as the reliability of the US and USD increasingly comes into questionETFs buyersgeopolitical tension increasingand mix in shorts chasing their tails after trying to nail a topNews and data flow was light.
US equity index futures traded higher. The initial upmove came ahead of an announcement from Tesla that its offering five-year zero interest financing on refreshed Model Y in China. TSLA earnings are due Tuesday afternoon, US time. There is a preview linked in the points above.
USD/JPY is net little changed on the session after a run higher to above 141.10 and a retrace back under 140.65. EUR/USD did a round-trip also, under 1.1485 before popping back to above 1.1510.
USD/CHF and GBP/USD are higher.
AUD, NZD, CAD are all not a lot changed.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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