EUR/USD 1.15309
0.026%
Gold 4050.88
-1.284%
Oil 83.139
0.594%
USD/JPY 159.176
-0.208%
GBP/USD 1.34761
0.081%
GBP/JPY 214.510
-0.118%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
August 2nd - According to Iranian media Fars News, some "media outlets linked to the enemy" previously claimed that Iran had agreed to a plan to reopen the Strait of Hormuz. However, informed sources denied this claim, emphasizing that Irans policy toward this strategic waterway has not changed.On August 2nd, Harvest Crude Oil LOF issued an announcement stating that its recent secondary market trading price is significantly higher than its net asset value (NAV), exhibiting a substantial premium. The closing price on July 31st was 2.201 yuan, while the NAV per unit was 1.9955 yuan as of July 29th. Investors are reminded to pay attention to the premium risk and invest prudently. If the premium does not effectively decrease by August 3rd, the fund has the right to apply for a trading suspension to warn of the risk. The fund primarily invests in related public funds, and investors can trade or subscribe/redeem on the secondary market. Currently, the fund is operating normally, and there is no undisclosed information that should be disclosed.August 2nd - According to data from online platforms, as of now, the total box office revenue for 2026 (including pre-sales) has exceeded 23 billion yuan, with the summer box office exceeding 7.2 billion yuan, and daily box office revenue exceeding 100 million yuan for 23 consecutive days.Israels Channel 12, citing diplomatic sources, reported that Qatari diplomats are negotiating with Iran to secure the support of the Iranian Revolutionary Guard for arrangements concerning the Strait of Hormuz.Market news: OPEC+ has agreed in principle to increase daily production by 188,000 barrels and suspend production increases in the fourth quarter.

Gold Price Forecast: XAU/USD maintains rises above $1,900; downside appears bolstered by robust yields

Alina Haynes

Jan 18, 2023 14:56

255.png 

 

During the Asian session, the gold price (XAU/USD) exhibits a sideways auction profile above the round-level support of $1,900.00. The precious metal is able to maintain a price above $1,900.00. Tom Barkin, president of the Richmond Federal Reserve (Fed) Bank, made hawkish remarks that boosted US Treasury yields. However, the downside appears to be supported by the rising yields.

 

According to Fed officials, the economy has passed the inflation peak, but we are still far from the Consumer Price Index median (CPI). Therefore, a premature retreat from interest rate hikes is undesirable. 

 

Meanwhile, market volatility is increasing as risk-perceived assets lose traction. Futures on the S&P 500 have accelerated their losses, indicating that the risk-aversion theme is gaining traction. A drop in market participants' risk appetite has impacted the demand for US government bonds. This has caused 10-year US Treasury yields to rise above 3.54 percent.

 

In the future, investors will pay close attention to the United States Producer Price Index (PPI) (December) and monthly Retail Sales (December) statistics. According to estimates, the headline PPI (Dec) is anticipated to decline to 6.8%, while the core PPI is anticipated to decline to 5.9%. In addition, monthly Retail Sales statistics may indicate a 0.1% growth as opposed to the 0.6% decrease previously reported. A rise in Retail Sales statistics could increase the likelihood of a rebound in inflation estimates.


Suggestion