EUR/USD 1.14278
-0.414%
Gold 4191.32
0.861%
Oil 73.902
-3.301%
USD/JPY 161.576
0.180%
GBP/USD 1.32485
0.119%
GBP/JPY 214.052
0.292%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Bloomberg Equity Indexes: SpaceX will be included in the large-cap segment of the Bloomberg Global Equity Indexes at the close of trading on June 24, 2026.① Iran 1. Iranian Parliament Speaker: Iran and the US should jointly safeguard Lebanons territorial integrity. 2. Iranian Foreign Ministry Spokesperson: Tehrans interactions with the International Atomic Energy Agency (IAEA) will require approval from the Iranian parliament and a decision from the Supreme National Security Council. 3. Acting Iranian Defense Minister: The armed forces are on high alert; any new provocations or miscalculations by aggressors will be met with a stronger response than ever before. ② US 1. Vance: A de-escalation mechanism for the Lebanese conflict has been established. 2. Vance stated that Iran has agreed to invite IAEA inspectors for a return visit, which was refuted by Iran. 3. Trump stated that Iran will agree to accept weapons inspections to ensure its long-term "nuclear integrity." 4. US officials stated that the US has established a "monitoring mechanism" for the situation in Lebanon. 5. Trump: If Iran does not comply with the agreement, I will take necessary measures. ③ Israel 1. Israel stated that it will continue to take action to destroy military facilities in southern Lebanon. 2. Israeli Prime Minister: The Israel Defense Forces can operate freely in southern Lebanon to counter threats. ④ Ceasefire Negotiations 1. Qatar and Pakistan Joint Statement: The first round of high-level talks between the US and Iran has concluded, and all parties have finalized a 60-day roadmap. 2. Iranian Foreign Ministry: Technical talks between Iran and the US have begun in Switzerland. 3. Irans chief negotiator: An agreement on unfreezing $12 billion in Iranian assets has been finalized. 4. Vance said the Swiss negotiations were productive, but warned, "Dont trust anyone." 5. Iranian President: Iran will never yield to excessive demands. ⑤ Strait of Hormuz 1. British media: More than 400 ships waited in the Strait of Hormuz during the Iran-US consultations. 2. Iranian Parliament Speaker: The Strait of Hormuz will be managed according to the mechanism established by Iran. 3. Joint Maritime Information Center (JMIC): The maritime security threat level in the Strait of Hormuz has been downgraded to "moderate." 4. Irans chief negotiator: An agreement has been reached to establish communication channels regarding the passage of ships in the Strait of Hormuz. ⑥ Other Circumstances 1. The Iranian President will visit Pakistan on Tuesday. 2. The U.S. Treasury Department issued a 60-day temporary general license authorizing Iran to sell oil. 3. It is reported that Iran exported 30 million barrels of crude oil in the week before the U.S. sanctions waiver. 4. Hezbollah leader: Will respond to any Israeli aggression. Federal Reserves Goolsby: Federal Reserve Chairman Warshs approach is to reduce speculation on interest rates and reduce forward guidance; I quite agree with this approach.Federal Reserves Goolsby: In my view, we need to determine whether this inflation will continue.Federal Reserves Goolsby: Evidence is needed to prove that this inflation is temporary; inflation in the services sector is slightly worrying.

Forecast for Gold: XAUUSD retreats from $1800 on rising US yields

Daniel Rogers

Aug 12, 2022 11:59

 截屏2022-06-07 下午5.14.22.png

 

While it had been trending upwards, gold's daily performance took a sour turn and it is now trading below $1800. During the American session, the XAUUSD reached a high of $1799 before turning down and heading below $1785.

 

Despite predictions of a 0.2% monthly increase, data released on Thursday indicated that the US Producer Price Index decreased by 0.5% in July, bringing the annual rate down to 9.8%. The Consumer Price Index did not move in July, contrary to predictions of a 0.2% increase, according to data released on Wednesday. The US currency fell because of the inflation rate going down.

 

Investors continue to count on a rate hike of 50 basis points or more from the Federal Reserve at their September meeting. U.S. rates have risen despite though a peak in US inflation is more likely, which is surprising. Both the US 10-year yield (now at 2.83%) and the 2-year yield (3.20%) are at their highest levels in nearly a week.

 

Increased US yields capped gold's gains. The inability of the XAU/USD pair to maintain a price over $1800 despite the recent US data has fueled skepticism that the rally will continue. Weekly support is found around $1774, and the immediate support is at $1785. Additional gains appear likely if the price of gold can consolidate over $1800.


Suggestion