Here’s What Pushed Gold Lower
US stocks were lower as a
result of some negative pre-announcements, causing Treasuries to rise for the
day.
Equity
Unilever, Heineken, Tenet
Healthcare, and Rohm & Haas gave negative preannouncements, while the tech
sector was hard-hit by a Morgan Stanley downgrade.
The Nasdaq future
(
NDU3 |
Quote |
Chart |
News |
PowerRating) was down 17.00 to close at 1205.00. The S&P 500 contract
(
SPU3 |
Quote |
Chart |
News |
PowerRating) was
down 10.60, at 981.00,
and the Dow
(
DJU3 |
Quote |
Chart |
News |
PowerRating) was down 95 at 9058.
Fixed Income
U.S. Treasuries were higher in the wake of a weak session
for equities. But all eyes remain on the Fed, who will decide the fate of
interest rates at its meeting on Tuesday and Wednesday this week.
The 10 year futures contract
(
TYU3 |
Quote |
Chart |
News |
PowerRating) was up 225 to close at 118-280; the 30 year
(
USU3 |
Quote |
Chart |
News |
PowerRating)
was up -31 at 119-17; and the five year note was up -135 at 116-025.
(
FVU3 |
Quote |
Chart |
News |
PowerRating).
Metals
July gold
(
GCQ3 |
Quote |
Chart |
News |
PowerRating) was down .5 to close at 352.90
as a result of dollar strength. Silver
(
SIN3 |
Quote |
Chart |
News |
PowerRating) was down .8 at 4.55. Copper
was up by .05 at 76.75
(
HGN03 |
Quote |
Chart |
News |
PowerRating), and aluminum
(
ALN03 |
Quote |
Chart |
News |
PowerRating) was down by .0070
to close at .6480.
Energy
July crude
(
CL03N |
Quote |
Chart |
News |
PowerRating) was up .86 to close at
30.82, and natural gas, was up by .040 at 5.903
(
NG03M |
Quote |
Chart |
News |
PowerRating).
Currencies
The USD index
(
DX03M |
Quote |
Chart |
News |
PowerRating) was up by .02 and
finished at 94.47.