EUR/USD 1.18136
-0.034%
Gold 5043.47
1.963%
Oil 62.974
-1.022%
USD/JPY 156.491
0.459%
GBP/USD 1.36986
0.007%
GBP/JPY 214.375
0.474%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
February 4th - The World Gold Council published an article stating that perceptions of gold have changed dramatically over the past two decades, reflecting rising wealth in the East and a growing global emphasis on golds role in institutional portfolios. Golds unique properties as a scarce, highly liquid, and uncorrelated asset enable it to serve as a risk diversification tool in the long term. Its status as both an investment and a luxury item has resulted in an annualized return of 9% since 1971, comparable to stocks and even higher than bonds and commodities. Golds traditional role as a safe-haven asset means it will be effective during periods of high risk. However, its dual appeal as both an investment and a consumer good means it can also generate positive returns during prosperous times. This dynamic is likely to continue, reflecting ongoing political and economic uncertainty, as well as economic concerns about stock and bond markets.On February 4th, the Chongqing Municipal Commission of Economy and Information Technology and the Chongqing Municipal Finance Bureau jointly released the "Several Policies of Chongqing Municipality on Promoting the Integration of Real Data and Driving Artificial Intelligence + Manufacturing", proposing 20 specific support measures in six aspects, with a maximum single subsidy of 5 million yuan, forming a comprehensive and multi-level policy incentive system. The "Several Policies" mentions that enterprises and third-party professional institutions that create high-quality datasets and build a trustworthy data space in the industrial field will receive a maximum reward of 3 million yuan; enterprises that develop vertical large-scale models and intelligent agents for the industrial field and promote their application will receive a maximum reward of 2 million yuan; enterprises whose AI cases are selected as typical cases by the Ministry of Industry and Information Technology will receive a reward of 500,000 yuan; and the construction of innovation platforms will receive a reward of 2 million yuan.February 4th - In a report, Kit Juckes of Societe Generale stated that the euro may weaken against the dollar in the second half of 2026, as its recent appreciation has exceeded what interest rate differentials could explain. Over the past year or so, the euros gains have consistently outpaced what the two-year interest rate differential suggests, and this trend is expected to continue into early 2026. This indicates that the market is cautious about confronting Trumps stance of wanting a weaker dollar. In this context, overseas investors may choose to hedge against the risk of a weaker dollar, but this is more likely to occur in the first half of this year.The main Shanghai silver futures contract rose 6.76% to 24,249 yuan/kg.New York silver futures rose above $91 per ounce, up 9.24% on the day.

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