EUR/USD 1.15678
0.343%
Gold 4376.09
0.578%
Oil 81.485
1.319%
USD/JPY 159.356
-0.090%
GBP/USD 1.35343
0.362%
GBP/JPY 215.682
0.268%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Ukrainian President Zelensky: The Ukrainian military attacked a Russian military airbase in Nizhny Novgorod and Russian oil facilities in Ust-Luga.Ukrainian President Zelensky: The Ukrainian military attacked a Russian missile factory in Samara.Indonesian disaster management official: The death toll from the earthquake has risen to 38.On August 15, Iranian Foreign Minister Araqchi stated in an interview with Iranian media that Iran has no intention of extending the ceasefire agreement with the United States and has not yet decided whether to restart negotiations with the US. He asserted that the US has violated the Iran-US memorandum of understanding, and that hostilities have resumed; therefore, there is no such thing as "extending the ceasefire agreement." Araqchi also said that Qatar and Pakistan, as mediators, are exchanging information and maintaining contact with Iran, but this does not mean that negotiations between Iran and the US are underway.August 15th - According to a market survey by investment bank Lazard, investors in the secondary market for private equity fund shares are changing how they evaluate potential software investment targets. While awaiting further clarity on the disruptive impact of AI on business models and valuations, they are often "shifting funds to other investment opportunities." The investment bank stated that the vast majority of respondents (91%) believe that the main moat for software companies to cope with the threat of AI and avoid their products becoming obsolete is "the proprietary data advantage and network effects that are difficult for AI to replicate." Lazard stated that as of June this year, only 4% of respondents indicated that their investment approach in the software industry had not changed.

Gold Price Prediction: The XAU/USD pair remains stable near $1,750 as central bankers travel to Jackson Hole

Alina Haynes

Aug 24, 2022 15:11

 截屏2022-06-15 下午4.05.18_1024x576.png

 

Gold price (XAU/USD) ranges between $1,745 and $1,746 as traders prepare for Wednesday's European session.

 

In doing so, the shiny metal reflects the cautious disposition of the markets ahead of the US Durable Goods Orders report for July. The fact that global officials have recently left for Friday's important address at the Kansas City Fed's symposium in Jackson Hole further restrains the bullion's quick movement.

 

According to Reuters, "many of the central bankers travelling to the Grand Teton mountains this week are hopeful that the current inflationary pressures will abate swiftly enough to allow them to fight the projected economic downturns around the world."

 

Notably, the decline in US 10-year Treasury yields, near 3.03% and down 2.5 basis points (bps), also benefits the gold price. In contrast, economic concerns surrounding China, the world's largest consumer of commodities, impact on the XAU/USD exchange rate. Bloomberg reported that "authorities have been attempting to put a floor under a downturn caused by China's widening real estate crisis as well as a lingering impact to consumer and business mood caused by a stop-and-go Covid control plan."

 

Stock futures remain moderately offered as the US Dollar Index (DXY) oscillates near the intraday high after reversing from the yearly peak the day before.

 

US Durable Goods Orders for July, anticipated to be 0.6% versus 2.0% previously, will be crucial for intraday direction. However, Friday's statement by Fed Chairman Jerome Powell at the Kansas City Fed's conference in Jackson Hole deserves significant consideration. If authorities see recession as a greater risk than inflation and demonstrate a willingness to reverse the previously hawkish tilt, the XAU/USD could see additional gains.


Suggestion