• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
February 15th - The World Health Organization (WHO) issued a statement on the 14th saying that it has received reports of recombinant monkeypox virus strains in recent months, with two patients infected with a new strain resulting from the recombination of branch Ib and branch IIb strains. However, the risk of monkeypox infection in the general population without specific risk factors remains "low".February 15th - The Reserve Bank of India (RBI) has tightened lending rules for companies engaged in proprietary trading of stocks and commodities and providing leveraged services to clients, in the latest move aimed at curbing speculation. In a statement released on its website on Friday, the RBI said all credit to securities firms must be secured by collateral, and loans to clients proprietary trading or brokerage investment businesses will be prohibited. The RBI stated that the so-called prudential rules for capital market intermediaries such as stock and commodity brokers will take effect on April 1st. These stricter measures will increase financing costs for proprietary trading firms and squeeze their profit margins.February 15th - According to reports on the 13th local time, US chocolate prices continue to rise due to factors such as supply shortages in major global cocoa-producing regions, with a year-on-year increase exceeding 14%. Data from the US market research company DataCollection shows that from January 1st to early February this year, US chocolate retail prices rose 14.4% year-on-year. Specifically, chocolate prices in cities like Denver and Los Angeles rose by approximately 17% year-on-year, while the Dallas-Fort Worth area saw a surge of 19%. The rise in US chocolate prices is mainly due to the global shortage of cocoa beans, the core ingredient. West Africa accounts for about 70% of global cocoa bean production, and extreme weather led to poor harvests, pushing cocoa futures prices to historical highs. Although international cocoa prices have recently fallen significantly, the US chocolate market is still digesting previously purchased high-priced raw material inventory, and the upward trend in chocolate prices may continue in the short term.February 15th - According to foreign media reports, the Vietnamese government approved SpaceXs Starlink satellite internet service launch in Vietnam on February 14th. The Vietnamese Ministry of Science and Technology has issued a license to Starlinks local subsidiary, allowing it to provide fixed and mobile satellite internet services. The company has also been granted permission to use radio frequencies and wireless equipment.February 15th – Hong Kong Financial Secretary Paul Chan Mo-po delivered a Lunar New Year message: "In the past year, with the strong support of the nation and the joint efforts of the SAR government and citizens, we have overcome many challenges. Exports performed well, visitor numbers increased, local consumption stabilized, and the international financial center developed steadily, resulting in overall economic stability and progress. Looking ahead to the new year, the external environment is challenging, but it will also present many new opportunities. We will actively strive for economic development, consolidate and enhance traditional advantageous industries, while exploring new markets and developing emerging industries. We will vigorously attract businesses and gather talent, ensuring that the fruits of diversified development better benefit the citizens. This year marks the beginning of the 15th Five-Year Plan, and we will more actively integrate into and serve the overall development of the nation, leveraging our strengths to serve the countrys needs."

Gold Price Forecast: XAU/USD confronts resistance above $1,650 as the DXY recovers and fears of a recession loom

Alina Haynes

Oct 18, 2022 11:39

 截屏2022-09-20 下午12.00.01.png

 

In the Tokyo session, the gold price (XAU/USD) has encountered selling pressure while attempting to hold above the $1,650.00 barrier. The precious metal's backward movement has ended as the US dollar index (DXY) has regained following a decline to about $1,646.83 during the late New York session.

 

The DXY has regained bids about 112.00 after lingering under the control of bears. However, the risk-taking attitude persists. The S&P500 futures are maintaining their overnight gains on a positive Monday. In addition, 10-year US Treasury rates fluctuate below the key level of 4%. As hawkish Federal Reserve (Fed) monetary policy wagers remain strong, the yellow metal may resume its decline towards $1,640.00 in the near future.

 

According to the CME FedWatch tool, the probability of a fourth straight 75-bps increase in interest rates is 99.1%.

 

Meanwhile, recession fears have increased following J.P. Morgan's bearish commentary. Regarding financial instruments, Morgan. J.P. Morgan strategists According to Reuters, Morgan is reducing their delivery longs in equities and their underweight position in bonds because to the increasing possibility that central banks may make a hawkish policy blunder.

 

On an hourly scale, gold prices have gained substantial selling pressure in a number of efforts to surpass the highest auction zone located between $1,661.70 and $1,684.50. At $1,654.43, the precious metal has detected resistance at the 20-period exponential moving average (EMA).