Mon-Fri 8am-6pm EST -  Support: 212-391-2211

  • My account
Wallace Precious MetalsWallace Precious Metals
0
  • Home
  • Gold
    • Gold Coins
      • American Gold Coins
      • Canadian Gold Coins
      • British Gold Coins
      • Chinese Gold Pandas
      • Austrian Gold Philharmonics
      • European Gold Sovereigns
      • Gold Bars
    • Other Gold Coins
      • Somalian Gold Elephants
      • Ukrainian Gold Coins
      • Disney Gold Coins
      • South Korean Gold Coins
      • World Gold Coins
  • Silver
    • Silver Coins 1
      • Silver Bars
      • Silver Coins
      • Silver Bars
      • Silver Rounds
      • Silver Statues
      • Silver Bullets
      • Silver Eagles
      • Silver Dollars
      • 90% & 40% Silver Coins
      • Ukrainian Silver Coins
    • Silver Coins 2
      • America The Beautiful Series
      • Canadian Silver Coins
      • Canadian Silver Coins
      • Chinese Silver Pandas
      • Austrian Silver
      • South Korean Silver Coins
      • British Silver Coins
      • Australian Silver Coins
      • New Zealand
      • Gilded Silver Coins
    • Other Silver Coins
      • Solomon Islands Silver Coins
      • Armenian Silver Coins
      • Biblical Silver Coins
      • Cook Islands Silver Coins
      • Rwanda Silver Coins
      • Congo Silver Coins
      • Fiji Silver Coins
      • Native American Coins
      • Disney Silver Coins
      • World Silver Coins
  • Platinum
    • IRA Eligible Platinum
    • Platinum Bars
  • Palladium
  • On Sale
    • New Arrivals
  • Sell To Us
  • Charts
    • Gold Price Charts
    • Silver Price Charts
    • Platinum Price Charts
    • Palladium Price Charts
    • Stock Market Analysis
      • Technical Analysis Charts
    • Commodities Chart Box
  • IRA
  • Other
    • Copper
      • Copper Bars
      • Copper Rounds
      • Wheat Pennies
    • Accessories
      • Bar Accessories
      • Coin Accessories
  • Contact

Gold moves higher heading into the EU session

Admin
Dec 15, 2020 Precious Metals News Comments Off on Gold moves higher heading into the EU session



Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!

(Wallace Refiners) – Gold (0.83%) and silver (1.60%) are heading higher into the EU session as sentiment in the Asia-Pac area was weak. The Nikkei 225 trades 0.17% lower, ASX is down 0.43% and the Shanghai Composite (-0.06%) traded just under flat. 

Overnight it was reported that gold imports fell to 7,126KG in October from 17, 135KG in September. Although this is a dramatic fall it would be safe to assume imports are to pick up for Q1 2021 for the Chinese Lunar New Year.

London in the UK is moving to the highest tier (their 3) of restrictions in the UK. This could be because case numbers and hospitalizations are rising but some believe it is in anticipation of the 5-day restriction holiday during the Christmas break. If people are forced to meet fewer people before the pause in regulations this could help reduce the number of infections before the break.

Sticking with the UK, Brexit talks have moved on slightly according to some EU officials. The UK refuted these claims but the fact that they are still negotiating is positive for now. The level playing field and fishing rights still remain the two key sticking points. 

In the US overnight, it became official that Joe Biden won the presidential election as the electoral college voted in favour of Biden. Although in most cases this is a formality it seems to be of note in US media. 

The Chinese economic recovery seems to be gathering pace. The November industrial production improved to hit 7% and retail sales also improved to print at 5% vs the prior reading of 4.3%.

Looking ahead to today’s session highlights include UK earnings data, CPI from Italy and France, IEA monthly report, Canadian manufacturing sales, US industrial production and comments from ECB’s Lane. 


Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.



Source link

Goldheadinghighermovessession
admin

Australian potash project securs A$450 million loan from gov’tPrevious post
Gold price pushes to session highs following disappointing Empire State survey dataNext post

NEWSLETTER

Subscribe to our newsletter to get updates regarding our business and precious metal refining.

MY ACCOUNT

  • Cart
  • Checkout
  • On Sale
  • My account
  • Shop

ABOUT US

  • Sell To Us
  • Careers
  • About
  • Payments
  • Refine Jewelry

Address

Wallace Refiner’s Inc

+1 212-391-2211

15 W 47th St # 101, New York, NY 10036, United States

contact@wallacerefiners.com

©2020 Wallace Refiners - Wallace Precious Metals | All Rights Reserved.

Send Enquiry