EUR/USD 1.16689
0.299%
Gold 4575.56
1.508%
Oil 59.041
0.722%
USD/JPY 157.979
0.063%
GBP/USD 1.34344
0.212%
GBP/JPY 212.241
0.277%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Barclays expects the Federal Reserve to cut interest rates by 25 basis points each in June and December, compared to previous forecasts of cuts in March and June.JPMorgan Chase no longer expects the Federal Reserve to cut interest rates in 2026, after previously anticipating a 25 basis point cut in January. JPMorgan Chase now expects the Fed to raise rates by 25 basis points in the third quarter of 2027.On January 12th, according to Tianyancha business information, Changsha Haxing Network Technology Co., Ltd. was recently established. The legal representative is Yang Chenxi, the registered capital is US$10 million, and the business scope includes machinery and equipment leasing, shared bicycle services, information system integration services, electric bicycle sales, personal business services, internet sales, ticket agency services, centralized fast charging stations, and cloud computing equipment sales.The China Earthquake Networks Center officially reported that a magnitude 3.0 earthquake occurred at 13:41 on January 12 in Yunlong County, Dali Prefecture, Yunnan Province (25.63 degrees north latitude, 99.07 degrees east longitude), with a focal depth of 10 kilometers.January 12th - Driven by strong Black Friday sales, Australian household spending in November 2025 is projected to rise 1.0% month-on-month. Citigroup stated that, given the increased spending, it has revised its fourth-quarter 2025 household consumption growth forecast upwards to 1.5% from 1.0% (the previous forecast was already high). Citigroup economist Faraz Said added that quarterly GDP growth may far exceed the Reserve Bank of Australias (RBA) expectations. Therefore, Citigroup maintains its previous assessment that the RBA will need to raise interest rates in February and May.

Forecast for Gold: XAU/USD to Waver Below $1,740 Amid Steady DXY, Focus on U.S. Durable Goods Orders

Alina Haynes

Aug 23, 2022 14:51

 截屏2022-08-04 下午5.12.51_1024x576.png

 

Gold prices (XAU/USD) are exhibiting erratic behavior within a tight range of $1,733.40-1,740.00 in the early Tokyo session. After a stronger rebound from Monday's low of $1,727.85, volatility has decreased for the precious metal. Gold is stuck due to conflicting reports about how hawkish Fed chair Jerome Powell would sound at the Jackson Hole Economic Symposium.

 

After reading the Federal Reserve's minutes from last week, it's evident that Fed officials agreed on the limited data showing that inflation pressures were easing and a resolution would take some time. The Fed is also dedicated to maintaining price stability in the economy. And to serve the same, the recent trend of rate increases should continue. A rate increase of 50 basis points (bps) would be best to show deference to expert opinion.

 

However, before that can happen, all eyes will be on Wednesday's report on US Durable Goods Orders. Market analysts predict that economic growth will slow to 0.5% from the previous release of 2%. When the US economy shows no change in the US core Consumer Price Index (CPI), a drop in economic data is not good for the US dollar index (DXY).

 

Gold prices have rallied strongly after reaching the 61.8% Fibonacci retracement (placed from July 21 low at $1,680.91 to August 10 high at $1,807.93) at $1,729.44. The 20-period Exponential Moving Average (EMA) is located at $1,738.60, and it is acting as a barrier for the precious metal, preventing it from going lower.

 

The Relative Strength Index (14), which predicts future price declines, is currently fluctuating inside a negative 20.00-40.00 zone.


Suggestion