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On September 17th, sources familiar with the matter revealed that JERA, Japans largest power producer, is in advanced negotiations with interested parties to acquire natural gas production assets in the United States for approximately $1.7 billion. This marks the latest example of Japanese investment in the U.S. energy sector. Sources said JERA emerged as the top bidder for GEP Haynesville II assets after banks solicited bids in recent weeks. The company is a joint venture between Blackstone Group-backed GeoSouthern Energy and pipeline operator Williams Companies. The deal would mark JERAs first foray into shale gas production and, as one of the worlds largest buyers of liquefied natural gas (LNG), would allow it to better control the supply chain as the boom in artificial intelligence drives surging power demand from data centers.The yield on the 20-year U.S. Treasury bond fell 0.8 basis points to 4.609% after the auction.The winning rate of the U.S. 20-year Treasury bond auction on September 16 was 4.613%, compared with the previous value of 4.88%.The bid-to-cover ratio for the U.S. 20-year Treasury bond auction on September 16 was 2.74, compared with the previous value of 2.54.On September 17, Indias Ministry of Commerce and Industry said after another round of bilateral talks in Delhi on Tuesday that India and the United States have decided to intensify efforts to reach a trade agreement as soon as possible. The Indian Ministry of Commerce and Industry said in a statement: "The talks were positive and forward-looking, covering all aspects of the trade deal. The two sides decided to intensify efforts to reach a mutually beneficial trade agreement as soon as possible." The Indian Ministry of Commerce and Industry also noted that a delegation of officials from the Office of the United States Trade Representative, led by Brendan Lynch, the chief negotiator for the India-US bilateral trade agreement, visited India.

Forecast for Gold Price: XAU/USD sellers near $1,955 confluence as yields recover amid banking and growth concerns

Alina Haynes

Mar 27, 2023 14:38

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Gold price (XAU/USD) falls $1,970 over the course of a two-day losing trend preceding Monday's European session. In doing so, the precious metal justifies the most recent revival in US Treasury bond yields and the US Dollar, while extending yesterday's U-turn from the key resistance zone.

 

As First Citizens bank agrees to purchase a sizable portion of Silicon Valley Bank, dwindling banking jitters may also be a factor. (SVB). In recent days, the XAU/USD has been weighed down by hawkish Fed comments, the pace of China's growth, one of the world's largest Gold consumers, as well as primarily US data.

 

Kristalina Georgieva, the head of the International Monetary Fund (IMF), cautioned that "risks to financial stability have increased," prompting an investigation into Gold sellers. On the same vein, Minneapolis Fed President Neel Kashkari voiced concerns about an impending US recession.

 

US Dollar Index (DXY) prints a three-day uptrend near 103.12 as traders prepare for important inflation data on Friday, specifically the US Core Personal Consumption Expenditure (PCE) Price Index for February.

 

In spite of this, 10-year US Treasury bond yields increased by two basis points to 3.40 percent, while their two-year counterpart ended a three-day losing trend close to 3.85 percent as of press time.

 

Moving forward, the Gold price remains on the bears' radar due to the failure of traders to overcome the critical resistance and the month-end consolidation. However, Friday's release of the Fed's favored inflation gauge becomes crucial for XAU/USD traders seeking direction.


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