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Ukrainian energy company DTEK: Power supply has been restored to 240,000 households in Ukraines Odessa region after Russias overnight attack.According to a report from Guoxin Securities on the gold industry on October 11th, the current gold price surge is primarily driven by expectations of a Federal Reserve rate cut, geopolitical risks, and surging investment demand, signaling a new period of strength in the gold market. Regarding short-term investment recommendations, focus on event catalysts, such as the October Federal Reserve meeting minutes and US inflation data (an unexpected rebound in CPI could trigger volatility). In the short term, prices may fluctuate briefly above 3,800, with specific performance fluctuating depending on the data. Regarding medium- to long-term allocations, it is recommended to allocate 10%-15% of your portfolio to gold assets to hedge risk and increase diversification.According to a report from Guoxin Securities on October 11th, the current gold price surge is primarily driven by expectations of a Federal Reserve rate cut, geopolitical risks, and surging investment demand, signaling a new period of strength in the gold market. Regarding short-term investment advice, focus on event catalysts, particularly the October Federal Reserve meeting minutes and US inflation data (an unexpected rebound in CPI could trigger volatility).German Geoscience Research Center: A 5.8 magnitude earthquake occurred near the east coast of the Kamchatka region.On October 11, as of the end of August, the China Development Bank has issued 4.8 billion yuan in affordable housing loans since the 14th Five-Year Plan, supporting 74 projects and helping to build and raise 62,000 affordable housing units; issued 978.1 billion yuan in special loans for urban village renovation, supporting 816 projects, helping to build and raise 1.769 million resettlement houses, benefiting 942,000 households in urban villages; issued 40.7 billion yuan in "dual-use" public infrastructure construction loans, supporting 180 projects.

Gold Price Prediction: XAU/USD measures support around $1850 as DXY demonstrates weariness; US Inflation anticipated

Daniel Rogers

Jun 10, 2022 14:31

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After a slight retracement from $1,850.37, the gold price (XAU/USD) is seeking a firmer base at $1,845.00. After falling to around $1,840.00, the precious metal exhibited a receptive purchasing response. A responsive buying move often occurs when market participants perceive the item to be a value wager.

 

On a global scale, the precious metal is trading sluggishly; nevertheless, the announcement of US inflation data will spark explosive movement in the counter. Investors are concerned that the US Consumer Price Index (CPI) is not showing any impact despite the Federal Reserve's quantitative tightening initiatives (Fed).

 

The annual US CPI is expected to remain unchanged at 8.3 percent, according to market opinion. In the past three months, the Fed has increased interest rates by 0.75 percent and implemented a rapid balance sheet reduction program. One may argue that the pricing pressures are so intense that significant quantitative tightening measures are required for a substantial price decline to occur.

 

The US dollar index (DXY) has exhibited symptoms of fatigue after failing to exceed Thursday's high of 103.37. A higher-than-anticipated inflation rate will bolster the DXY bulls and set them up for a more rapid ascent.

Technical Analysis of Gold

On a four-hour time period, gold prices are exhibiting a protracted consolidation. The precious gold is fluctuating between $1,828.55 and $1,871.16 per ounce. At $1,849.70, the Exponential Moving Average (EMA) of 21 periods intersects with gold prices. In addition, the Relative Strength Index (RSI) (14) oscillates between 40.00 and 60.00, indicating that the asset is seeking a catalyst for a dramatic rise.

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