Commodity Summary
MCX
Jan 4:
prices climbed to their highest in eight weeks on Monday, holding above $1,900, as global COVID-19 cases spiked and countries pushed for more lockdowns despite vaccine rollouts.
FUNDAMENTALS
* Spot gold rose 0.8% to $1,912.71 per ounce by 0102 GMT, its highest since Nov. 9, while U.S. gold futures climbed 1.1% to $1,916.40.
* The dollar index remained weaker against rivals on Monday, making gold cheaper for holders of other currencies.
* Global coronavirus cases continued to climb, with British Prime Minister Boris Johnson hinting at tougher lockdown restrictions, while Japan considered declaring a state of emergency for capital Tokyo and surrounding areas.
* Investor focus was also on Tuesday's Georgia runoff elections that will decide the control of the U.S. Senate, and with it, the likely fate of President-elect Joe Biden's legislative agenda.
* The U.S. Senate ended a push by Democrats to increase COVID-19 financial relief checks from $600 to $2,000, a change sought by President Donald Trump, after the effort was blocked by Republicans.
* Britain will become the first country to roll out the low-cost and easily transportable AstraZeneca and Oxford University COVID-19 vaccine on Monday.
* The U.S. Federal Reserve will release the minutes from their latest policy meeting on Wednesday.
* SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.08% to 1,170.74 tonnes on Thursday.
* Physical gold demand remained largely muted across top Asian hubs last week as holidays kept buyers at bay.
* Silver gained 2.4% to $26.98 an ounce. Platinum gained 0.6% to $1,075.15 and palladium rose 0.6% at $2,461.95.
DATA/EVENTS (GMT, Dec) 0145 China Caixin Mfg PMI Final 0850 France Markit Mfg PMI 0855 Germany Markit/BME Mfg PMI 0900 EU Markit Mfg Final PMI 0930 UK Markit/CIPS Mfg PMI Final 1445 US Markit Mfg Final PMI
FUNDAMENTALS
* Spot gold rose 0.8% to $1,912.71 per ounce by 0102 GMT, its highest since Nov. 9, while U.S. gold futures climbed 1.1% to $1,916.40.
* The dollar index remained weaker against rivals on Monday, making gold cheaper for holders of other currencies.
* Global coronavirus cases continued to climb, with British Prime Minister Boris Johnson hinting at tougher lockdown restrictions, while Japan considered declaring a state of emergency for capital Tokyo and surrounding areas.
* Investor focus was also on Tuesday's Georgia runoff elections that will decide the control of the U.S. Senate, and with it, the likely fate of President-elect Joe Biden's legislative agenda.
* The U.S. Senate ended a push by Democrats to increase COVID-19 financial relief checks from $600 to $2,000, a change sought by President Donald Trump, after the effort was blocked by Republicans.
* Britain will become the first country to roll out the low-cost and easily transportable AstraZeneca and Oxford University COVID-19 vaccine on Monday.
* The U.S. Federal Reserve will release the minutes from their latest policy meeting on Wednesday.
* SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.08% to 1,170.74 tonnes on Thursday.
* Physical gold demand remained largely muted across top Asian hubs last week as holidays kept buyers at bay.
* Silver gained 2.4% to $26.98 an ounce. Platinum gained 0.6% to $1,075.15 and palladium rose 0.6% at $2,461.95.
DATA/EVENTS (GMT, Dec) 0145 China Caixin Mfg PMI Final 0850 France Markit Mfg PMI 0855 Germany Markit/BME Mfg PMI 0900 EU Markit Mfg Final PMI 0930 UK Markit/CIPS Mfg PMI Final 1445 US Markit Mfg Final PMI
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