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Hamas said that under the terms of the ceasefire agreement, a list of Palestinian prisoners to be released will be announced the day before the hostage exchange.On January 18, documents filed by Spirit AeroSystems, Boeings largest parts supplier, with the U.S. Securities and Exchange Commission (SEC) on January 17 local time showed that after Boeing (BA.N) completes its acquisition, the companys CEO Patrick Shanahan and Irene Esteves are not expected to continue to work at Spirit, nor will they be employed by Boeing, and no Spirit directors are expected to join the Boeing board. On June 30, 2024, Spirit, Boeing and its wholly owned subsidiary Sphere Acquisition Corp. signed a merger agreement, which stipulates that Sphere Acquisition will merge with Spirit, and Spirit, as the surviving company, will become a wholly owned subsidiary of Boeing after the merger.On January 18, according to the U.S. Capitol Hill newspaper, before Mondays inauguration, U.S. President-elect Trump "won a battle" because the Capitol will raise the American flag to its highest level instead of lowering it to half-mast on the day of the inauguration. Trump had previously been angry about the idea of lowering the flag to half-mast in memory of former President Carter. Carter died on December 29, and Biden announced that he would lower the flag to half-mast for 30 days. It was U.S. House Speaker Johnson who came to the rescue and dispelled concerns that Trumps second term would start with a "half-mast mourning" scene. Earlier this week, Johnson wrote on social media that next Monday, "the flags at the Capitol will fly at full flag to celebrate our countrys unity after the inauguration of the 47th President Donald Trump." Johnson pointed out that the flag would be lowered to half-mast again the day after the inauguration to commemorate Carter.According to the Ukrainian Pravda: The battlefield analysis agency DeepState said that the Russian army has made progress in several settlements in Kharkiv and Donetsk.According to the Ukrainian National News Agency: Poland plans to send a defense industry delegation to visit Ukraine.

Gold Price Prediction: XAU/USD Retraces to $1,800 Prior to US NFP

Alina Haynes

Dec 02, 2022 15:36

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Gold price (XAU/USD) replicates the traditional pre-NFP consolidation pattern as it falls from a four-month high to $1,780 on Friday morning. Consequently, the yellow metal records its first daily loss in four days amid cautious market conditions.

 

Amid sluggish trading hours, recent comments from International Monetary Fund (IMF) Managing Director Kristalina Georgieva seems to have weighed on the XAU/USD bulls in addition to the apprehension around the release of vital US job statistics. "Recession risks are rising for many countries, and the outlook for global growth is extraordinarily uncertain and dominated by risks," stated Georgieva of the IMF.

 

In addition, concerns regarding the deceleration of the Initial Public Offering (IPO) markets may have contributed to the Gold price decline. "A global slowdown in initial public offerings owing to increased market volatility and a regulatory cloud over fresh listings from China has produced pent-up demand that could lead to an IPO boom in 2023," according to industry experts speaking at the Reuters NEXT conference.

 

In addition, the recent comments from New York Fed's John Williams appeared to have tested US Dollar bears and helped Gold sellers, as the policymakers stated that the Fed has more rate hikes to implement.

 

S&P 500 Futures fall 0.30 percent intraday to 4,070, although US 10-year Treasury yields rebounded from a 10-week low to reach 3.53 percent as of press time.

 

Notably, the dovish fears regarding the US Federal Reserve's (Fed) next move, supported by the gloomy Fedspeak and softer US statistics, appear to keep gold bears optimistic ahead of the US jobs report. Forecasts indicate that headline Nonfarm Payrolls (NFP) will likely decrease to 200K from 261K previously, while the unemployment rate is projected to remain steady at 3.7%. It should be noted that a probable decrease in Average Hourly Earnings for the month in question could also weigh on the Gold price.

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