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On the 22nd local time, South Koreas Joint Chiefs of Staff said that North Korea launched missiles into the waters east of the peninsula.Precious metals prices plummeted from all-time highs on Tuesday, before gold stabilized and silver edged lower in early Asian trading. Meanwhile, the US stock markets rally faltered, showing signs of buyer fatigue. A combination of factors contributed to the decline in precious metals prices, including positive trade negotiations, a stronger dollar, overbought technicals, uncertainty surrounding investor positioning due to the government shutdown, and the end of Indias seasonal buying spree. Fawad Razaqzada, an analyst at City Index and Forex.com, believes that golds recent gains have been extraordinary, driven by falling yields, continued central bank buying, and expectations of further monetary easing. "Markets rarely move in a straight line," he said. "But its premature to call the broader bull trend over. While a pullback is natural, its worth noting that many investors missed out on the previous surge. Soon, they may step in to buy the dip, which will help contain the sell-off."On October 22, Laopu Gold (06181.HK) announced on the Hong Kong Stock Exchange that on October 21, 2025 (after the trading hours of the Hong Kong Stock Exchange), the company entered into a placing agreement with the placing agent, pursuant to which the placing agent has conditionally and separately agreed to act as the agent of the Company to use its best efforts to induce a total of not less than six placees to purchase 3,711,800 new H shares in accordance with the terms and subject to the conditions contained in the placing agreement. The placing price is HK$732.49 per H share (a discount of 4.5% to the latest closing price).On October 22, bond traders were preparing for further declines in U.S. Treasury yields, even though the 30-year bond yield fell to a six-month low on Tuesday. Data showed that the cost of option bets to protect against a sharp drop in yields was rising rapidly. With the U.S. government shutdown about to become the second longest in history, coupled with renewed concerns about the credit market and escalating trade tensions, traders are pouring into high-quality safe-haven assets. The rise in the U.S. Treasury market is pushing the entire yield curve lower. Citi strategist David Bieber wrote: "In terms of positioning, the tactical deployment is clear - go long on everything, and the market is quickly chasing the appreciation of U.S. bonds."Kyiv Mayor: Russia launched an airstrike on Kyiv and Ukrainian air defense forces are operating.

Forecast for the price of gold: XAU/USD hopes to reclaim $1,800 as investors lower their expectations for US inflation

Alina Haynes

Aug 10, 2022 11:29

截屏2022-06-10 下午4.40.17_1024x576.png 

 

After reaching a new monthly high at about $1,800.00 on Tuesday, the price of gold (XAU/USD) is now showing a contraction in volatility. On Tuesday, the precious metal made a respectable rise to the north before moving sideways in anticipation of the US Consumer Price Index (CPI). According to the street estimates, the inflation rate decreased considerably from the previous announcement by 40 basis points (bps) to 8.7%. The price rise index, however, is very likely to make an unexpected shift.

 

The investment community is aware that rising oil prices continued to be the key factor pushing up price pressures. Now, concerns about fixed supply and a bleak demand forecast on the oil front have caused an even greater decline in oil prices. The inflation rate will also show the multiplier effect.

 

Additionally, the positive US Nonfarm Payrolls (NFP) data from last week suggests that the inflation rate may climb more than expected. In contrast to the 372k jobs added in June, the US economy added 528k new employment in July. Well, until the dust settles for a longer period of time, officials at the Federal Reserve (Fed) will still have a difficult task.

 

Following a robust recovery from the lower part of the Rising Channel at roughly $1,765.00, gold prices are currently rising quickly. The upper part of the aforementioned chart pattern is drawn from the high of July 22 at $1,739.37, and the lower part is drawn from the low of July 27 at $1,711.55.

 

The upside filters are strengthened by the scaling higher of the 20- and 50-period Exponential Moving Averages (EMAs) at $1,785.15 and $1,772.00, respectively. Additionally, the Relative Strength Index (RSI) (14) has moved into the bullish zone of 60.00-80.00, indicating further gains are still to come.