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November 8th - According to the latest report from the World Platinum Investment Council, the global platinum market is entering a period of sustained shortage. From the supply side, global platinum supply is highly dependent on South Africa, and mine expansion cycles can take up to three years. Faced with strong market demand, the supply side is struggling to respond quickly, meaning that the industrys structural deficit will persist for years to come, further exacerbating the tight supply situation.A U.S. judge ruled that Trumps order for the National Guard to go to Portland, Oregon, was illegal.US President Trump: Now is the time for Republican senators to stop playing tricks on the radical left Democrats, immediately stop obstructing the proceedings, immediately open the government, and pass some great legislation based on common sense!On November 8th, following shareholder approval of Elon Musks $1 trillion compensation package, his rival, U.S. electric vehicle maker Rivian, announced on Friday a compensation package worth up to $4.6 billion for CEO and founder RJ Scaringe, linking the award to the companys earnings and stock performance over the next decade. Rivian stated that Scaringe will receive options to purchase up to 36.5 million Class A common shares at an exercise price of $15.22 per share, approximately 16 million more than his previous award. The options will vest in stages over the next ten years, subject to conditions including the companys stock price reaching different target levels between $40 and $140 per share, and achieving new revenue and cash flow targets over the next seven years.On November 8th, local time, the U.S. Senate failed to pass a motion to advance the Certain Federal Employees Appropriations Act (S.3012) by a vote of 53 to 43, falling short of the 60 votes required for passage. This bill aims to provide funding for some federal employees who are required to perform their duties during the forced shutdown to mitigate the impact of the government shutdown. Although some lawmakers called for a swift restoration of funding for key sectors, the final vote showed that partisan divisions remain, and the government shutdown is unlikely to be resolved in the near future.

Forecast for the Gold Price: XAU/USD extends Fed-inspired rebound from $1,960 on yield softening

Daniel Rogers

Mar 23, 2023 14:52

截屏2022-06-07 下午5.14.22.png 

 

Gold price (XAU/USD) anticipates a rematch with the $2,000 threshold by extending Federal Reserve (Fed)-induced gains amid declining US Treasury bond yields and the U.S. dollar. Notably, despite US Treasury Secretary Janet Yellen's rejection of "blanket insurance" for deposits, fading concerns of a banking crisis appear to be propelling XAU/USD prices as of late.

 

Nevertheless, the Fed delivered 25 basis points (bps) of a rate hike, but the Rate Statement and dot-plot raised concerns of future dovish moves, which in turn weighed down the US Dollar, despite the fact that Fed Chair Powell ruled out demands for a rate cut in 2023. Aside from this, US stock futures and Asia-Pacific equities post modest gains as China-related optimism combines with declining yields.

 

In the future, second-tier statistics and monetary policy moves of the Bank of England (BoE) and Swiss National Bank (SNB) may be of interest to Gold traders as proponents anticipate more dovish rate increases in light of the impending banking crisis.


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