EUR/USD 1.16054
-0.100%
Gold 4508.22
-0.767%
Oil 95.267
-1.973%
USD/JPY 159.162
0.116%
GBP/USD 1.34395
0.066%
GBP/JPY 213.893
0.184%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to Israels Channel 12: Security agencies are preparing for a possible decision by Trump to take military action against Iran in the coming days.According to Israels Channel 12: Israel is closely monitoring the draft agreement between the United States and Iran, fearing that Tehran may receive sanctions relief without resolving the nuclear issue.According to Israels Channel 12: The Israeli military has declared a state of high alert in order to prevent a possible escalation of tensions with Iran.May 23 - Reuters, citing an internal document, reported that 27 countries have activated their domestic crisis response mechanisms to apply for World Bank funding to address the global economic impact of the conflict in Iran. The World Bank document did not list specific countries or the total amount of funding potentially requested, but officials in Kenya and Iraq confirmed they are seeking rapid financial support from the World Bank to address the effects of the conflict, such as soaring fuel prices and a sharp drop in oil revenues.On May 23, it was reported that India, the worlds third-largest consumer of liquefied petroleum gas (LPG), is currently facing an LPG supply gap of approximately 400,000 barrels per day (compared to pre-war levels), with domestic production unable to compensate for the decline in imports caused by the war with Iran. Data from energy data analytics firm Kpler shows that Indias LPG imports in April were 377,620 barrels per day, less than half of the 851,870 barrels per day imported in February. In April, Indias domestic production increased to 530,000 barrels per day, an increase of approximately 75,000 barrels per day from the previous month. Sumit Ritolia, chief refining and supply analyst at Kpler, stated that the situation is more serious because Indias domestic LPG production is nearing full capacity, meaning that the supply gap could persist as long as imports do not fully recover. A black market seller stated, "Due to soaring costs, we noticed a slight slowdown in customer demand in April. But people have no choice, as switching to other fuels is not easy."

Forecast for the price of gold: XAU/USD eases below the $1,804 barrier as Fed hawks back off due to weaker US inflation

Alina Haynes

Aug 11, 2022 11:58

 截屏2022-08-10 上午11.45.08_1024x576.png

 

US inflation-driven gains in the price of gold (XAU/USD) are fading as the metal declines to $1,790 on Thursday during the opening Tokyo session. The recent decline in the price of precious metals may be related to conflicting worries about the US Federal Reserve's (Fed) upcoming actions as well as Sino-American friction.

 

On Wednesday, the US Consumer Price Index (CPI) fell to 8.5% YoY in July, below the 8.7% consensus and the 9.1% reading from June. According to Reuters, US President Joe Biden stated on Wednesday that there are some indications that inflation may be decreasing after the US released its inflation data. In the coming months, there may be more challenges for us to overcome, Biden continued. US President Biden continues, "We still have work to do, but we're on track."

 

Following the CPI report on Wednesday, traders of futures linked to the Fed's benchmark interest rate reduced their bets on a third consecutive 75-basis-point raise at its policy meeting on September 20-21 and now see a half-point increase as the most likely scenario, according to Reuters.

 

Neel Kashkari, president of the Minneapolis Fed, recently stated that the Fed is "far, far away from declaring success" on inflation. Additionally, the decision-maker stated that he hasn't "seen anything that changes" the need for the Fed to raise its policy rate to 3.9% by year's end and to 4.4% by the end of 2023. Charles Evans, president of the Chicago Fed, said in another place that a recession would likely require unfavorable circumstances to occur. Also labeling inflation "unacceptably" high, Fed's Evans

 

Additionally, according to sources cited by Reuters, US President Biden is reconsidering his China tariff policy in light of Taiwan's response, which put the XAU/USD bulls on the defensive.

 

S&P 500 Futures print modest gains near 4,220 by press time against this backdrop after Wall Street rose and US Treasury yields were largely unchanged the day prior.

 

Moving on, the monthly Producer Price Index (PPI) for July and the weekly US Jobless Claims numbers may amuse gold traders. However, in light of recent risk-negative headlines, special focus should be placed on the qualitative variables.

Suggestion