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According to JLC Network Technologys calculations, as of the seventh working day on August 25th, the average price of benchmark crude oil was $88.87 per barrel, with a change rate of 7.54%. Domestic gasoline and diesel retail prices should be increased by 410 yuan per ton. The adjustment is based on: 1. the domestic crude oil import structure and settlement benchmark varieties; 2. minor adjustments may be made during the pricing mechanisms operation based on import structure, etc., and JLC Network Technology will revise accordingly; 3. At 24:00 on August 14th, domestic gasoline and diesel retail prices were reduced by 230 and 220 yuan per ton respectively. Based on the "ten working days" principle, the adjustment window for this round is 24:00 on August 28th.Lei Jun posted on Weibo that the Xuanjie O100, based on Xuanjies innovative high-bandwidth matrix bus, achieves edge AI performance far exceeding that of traditional flagship SoCs. It will be applied to a full range of product categories, including mobile phones, automobiles, and robots.Futures News, August 25th: Crude oil prices rose and then corrected, slightly cooling the bullish sentiment in the fuel oil market. Refineries faced increased resistance to pushing prices higher, but tight supply of some products supported refineries in maintaining prices. It is expected that today, most fuel oil products will remain stable with shipments, while some major contracts may see significant price increases.A Reuters poll of 35 economists showed that 18 of them expect the Bank of Korea to raise its benchmark interest rate to 3.00% on August 27, while the rest believe the rate will remain unchanged at 2.75%.The situation between the US and Iran remains unpredictable, causing international oil prices to fluctuate. A chart provides a quick overview of the pre-market conversion prices of crude oil between domestic and international markets.

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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