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On September 15th, institutional analysts pointed out that the market expects the Bank of England to keep its base interest rate unchanged on Thursday, but at the same time slow its planned reduction of government bond holdings. This plan is attracting increasing attention as government bond yields continue to rise. The Bank of England cut its base rate from 4.25% to 4% last month, maintaining the pace of rate cuts since August 2024. At that time, as inflation retreated from its 2022 peak, the central bank began to gradually remove policy restrictions that had been curbing economic activity. Policymakers described this series of 25 basis point rate cuts every three months as "cautious and gradual." If this pace continues, policymakers should hold the base rate at 4.25% on Thursday. However, there are signs that they will not only keep interest rates unchanged this week, but may also hold rates steady at their November or December meetings.Russian Ministry of Defense: Russian Tu-22M3 bombers are patrolling the high seas area of the Barents Sea.Dow Jones: The Bank of England is expected to keep its key interest rate unchanged and reduce quantitative tightening. Investors expect the scale of quantitative tightening to be significantly reduced to 100 billion pounds. The decision to quantitative tightening has triggered rising bond yields and intensified criticism.RBC Capital Markets: Raised the S&P 500 price target for the end of 2025 to 6350 from 6250; set the price target for the second half of 2026 at 7100.Germanys wholesale price index fell by -0.6% month-on-month in August, compared with -0.1% in the previous month.

Predictions for Gold Prices — Gold prices rose as the dollar weakened

Alina Haynes

May 24, 2022 09:43

Gold prices rise as the dollar weakens to start the week. The currency experienced negative pressure on reduced growth prospects and likely march toward recession. Benchmark rates climbed as shares surged today. Today, the yield on the ten-year Treasury note rose by 3 basis points.

 

On Monday, there was little going on in the world of business. Focus continues on Fed Chair Powell’s speech tomorrow and major economic statistics including PCI and first-quarter GDP published this week. Investors are anxious about impending recession and sluggish economic growth.

Analytical Methods

Gold prices came back from session highs but are still higher and possibly be headed to the 1860s. This week's economic statistics might point to a slowdown in economic growth, which would benefit gold.

 

To begin the week, gold prices held above the 200-day moving average of $1839. Support is indicated near the 200-day moving average near 1839. Resistance is apparent at the May 12th peak of 1858.

 

The Fast Stochastic has formed a crossover buy signal, indicating that the short-term momentum is bullish. Prices are no longer oversold as the fast stochastic prints a value of 54.58, considerably above the oversold trigger level of 20.

 

Medium-term momentum turns bullish as the MACD can provide a crossover buy signal. This occurs as the 12-day moving average minus the 26-day moving average passes below the 9-day moving average of the MACD line.

 

Price declines are predicted by the MACD (moving average convergence divergence) histogram, which shows a downward trend in price.

 

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