Gold prices on Thursday began the year with a healthy start, boosted by doubts surrounding the strength of Wall Street’s rally, while platinum added 3% on industrial demand.
Technical Resistance: 1523/1535
Technical support: 1500/1484
Wall Street starts 2020 with new records on China stimulus, trade hopes
Wall Street’s major indexes notched record highs to open the new year on Thursday, as fresh economic stimulus from China added to optimism fueled by easing trade tensions and an improving global outlook.
Canadian factory activity expands at slowest pace in four months
Canadian manufacturing activity expanded in December at its slowest pace in four months as new orders declined and business optimism weakened, data showed on Thursday. The IHS Markit Canada Manufacturing Purchasing Managers’ index (PMI), a measure of manufacturing business conditions, fell to a seasonally adjusted 50.4 in December, its lowest level since August, from 51.4 in November. A reading above 50 shows expansion in the sector.
U.S. jobless claims edge lower but trend points to uptick in filings
The number of Americans filing claims for jobless benefits edged lower last week, a positive signal for the U.S. labor market amid recent signs that new claims may be trending slightly higher.
Source: Bloomberg, CNBC, Reuters