EUR/USD 1.02749
-0.225%
Gold 2700.86
-0.497%
Oil 77.288
-0.681%
USD/JPY 156.146
0.645%
GBP/USD 1.21698
-0.580%
GBP/JPY 190.028
0.104%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Russian Ministry of Defense: Russian air defense system shot down 46 drones in Russia at night.The General Staff of the Ukrainian Armed Forces: In the past day, the Russian army lost about 1,340 soldiers, 13 armored personnel carriers, 21 artillery systems and other equipment.The head of Ukraines military administration in Kiev said the overnight attack left three people dead.On January 18, Denis Avirin, a senior officer of the Russian "Center" group press center, revealed that on that day, the Ukrainian army lost as many as 530 soldiers, a tank and an M119 howitzer in the Russian armys "Center" group operation area.On January 18, technology media MacRumors published an article today saying that Apple plans to release the thinnest iPhone with the iPhone 17 series in September 2025. It may be called iPhone 17 Air after it goes on the market and will replace the iPhone 17 Plus model. It is reported that the iPhone 17 Air is only 5.5mm thick, which is 30% thinner than the iPhone 16 and 33% thinner than the iPhone 16 Pro, close to the thickness of the 12.9-inch iPad Pro (5.1mm). Well-known Apple analyst Ming-Chi Kuo also predicted that the model will be about 5.5mm thick, but other sources said it is 6.25mm thick. Even so, it will be the thinnest iPhone.

Gold Price Prediction: The XAU/USD pair flirts with a two-week high below $1,800 ahead of US PCE Inflation

Alina Haynes

Dec 01, 2022 15:03

 205.png

 

Gold price (XAU/USD) oscillates near a two-week high in the vicinity of $1,780 on Thursday morning as buyers await critical US inflation data. Consequently, during the three-day upswing, the price of bullion advances to within a few minutes of the previous multi-day high.

 

Notably, dovish statements from Federal Reserve (Fed) officials, particularly Chairman Jerome Powell, combined with weaker US employment-related data to drive the Gold price higher the day before. In the same vein, the virus-driven activity limitations in China have loosened as the dragon kingdom reported three consecutive days of dropping daily infections after setting a new record high.

 

However, a recent increase in US inflation expectations, as indicated by the 10-year and 5-year breakeven inflation rates as reported by the St. Louis Federal Reserve (FRED) data, should have also investigated the metal's recent upward movement. Additionally challenging the XAU/USD bulls could be Jake Sullivan's pessimistic views, which signal that the Sino-American optimists face new obstacles. "The United States views China as a growing strategic danger," the official stated.

 

As a reflection of the market's sentiment, S&P 500 Futures post modest gains, while Asia-Pacific equities follow Wall Street's upward trend. In addition, US 10-year Treasury bond yields continue under pressure around 3.62 percent a day after hitting a two-month low.

 

Janet Yellen, secretary of the US Treasury, has stated that the US economy will likely be able to accomplish a so-called "soft landing," in which inflation decreases without triggering a severe recession. Gold buyers remain optimistic as they await the Fed's favored inflation indicator, the US Core Personal Consumption Expenditure (PCE) Price Index for October, which is anticipated to be 5.0% YoY versus 5.1% before.

 

In addition, the US ISM Manufacturing PMI for November, which is anticipated to be 49.8 compared to 50.2 in October, as well as news about China and comments from the Fed's second-tier policymakers will be crucial.

Suggestion