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According to Ukrainian media citing an air force spokesperson, Russia launched a Hazel missile at the Kyiv region of Ukraine.Ukrainian officials say the Russian attack killed four people in and around Kyiv.On May 24, local time, Russian Foreign Ministrys Director-General of the Second Department for CIS Affairs, Polischuk, stated that Russia is prepared to present its own recommendations regarding the USs 27-point plan for resolving the Ukraine crisis during the next round of meetings. He did not disclose the specific content of the recommendations. Polischuk indicated that following the two rounds of trilateral talks in Abu Dhabi and Geneva, Russian experts, based on the outcomes of the talks, have formulated recommendations regarding the USs 27-point plan.On May 24, Minister of Commerce Wang Wentao met with UNCTAD Acting Secretary-General Reno Mareno in Suzhou on May 23. Mareno was in China to attend the APEC Trade Ministers Meeting. The two sides exchanged views on the global economic and trade situation and deepening practical cooperation. Wang Wentao emphasized that the 15th Five-Year Plan outlines a grand blueprint for Chinas future development and makes important arrangements for expanding high-level opening-up, upholding the multilateral trading system, and practicing genuine multilateralism. China is willing to work with all parties, including UNCTAD, to jointly promote the building and maintenance of a fair, just, open, inclusive, and win-win international economic and trade order.According to Ukrainian media: Explosions have been heard again in Kyiv.

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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