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On August 25th, local time, Iranian Parliament Speaker Ghalibaf posted on social media regarding the US sanctions threat, stating that the US knows no one will believe their nonsense and that the US is economically powerless to further restrict relations with other countries. Irans trading partners have made it clear through the media and messages that they do not take these statements seriously. On the afternoon of the 24th local time, US Treasury Secretary Bessenter held a press conference, announcing several economic sanctions against Iran to further increase pressure on the country.Saudi Aramco announced the signing of an agreement and memorandum of understanding with a French company, with a potential total value of over $3.7 billion.On August 25th, local time, U.S. Vice President Vance, speaking about trade negotiations between the U.S. and Canada on the 24th, stated, "Canada made a bunch of unreasonable demands at the last minute." He continued, "I think a deal should be reached, but we need to send a loud and clear message to the Canadian Prime Minister: Stop taking advantage of the people of Maine. Stop taking advantage of the United States. Its all over. We want fair and just trade policy." Vance added that negotiations are ongoing, and "the United States will strive for fairness in trade."Note: U.S. Treasury Secretary Bessenter concludes his remarks.U.S. Treasury Secretary Bessenter: The UAE has been a very good partner and has withstood the main impact of the Iranian attacks.

Gold Price Forecast: XAU/USD crashes below $1,840 as geopolitical worries damper market mood

Alina Haynes

Feb 20, 2023 11:13

截屏2022-06-07 下午5.14.07.png 

 

Gold price (XAU/USD) has slid to about $1,837.90 after giving a negative break of the consolidation created in a limited range of around $1,844.00 in the Asian session. The precious metal has been given amid growing geopolitical tensions between the United States and China and the launch of rockets from North Korea near Japan’s Exclusive Economic Zone (EEZ).

 

Investors should brace for wild volatility as the equity markets in the United States will stay closed on Monday owing to Presidents’ Day. Nevertheless, S&P500 futures have slid further amid increased forecasts of the continuation of the restrictive policy stance by the Federal Reserve (Fed), presenting a decline in the risk-aversion theme.

 

The US Dollar Index (DXY) has risen over 103.70 as investors are increasingly anxious that the higher-than-anticipated US Consumer Price Index (CPI), Producers Price Index (PPI), and monthly Retail Sales data have prompted the possibility of a comeback in the inflationary pressures.

 

Fed Governor Michelle Bowman stated on Friday that they are seeing a lot of conflicting data in economic conditions. He further noted, the Fed has “A long way to go to get inflation back down to our goal."


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