• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
May 30th - According to an AFP report on May 29th, Iranian state media reported on the 29th that Iranian authorities are preparing a "grand" funeral for the countrys assassinated former Supreme Leader Ali Khamenei. The funeral had been long postponed due to Irans war with the United States and Israel. Although the specific date is still uncertain, Iranian state television quoted Mohsen Mahmoudi, head of the Islamic Propaganda Coordination Committee, as saying, "A special headquarters has been established to prepare for the funeral, and various departments are currently making preparations and arrangements." Ali Khamenei, who led Iran for more than 30 years, was killed in the first wave of US-Israeli attacks that began on February 28th. His son and successor, Mojtaba Khamenei, was also injured in the attacks and has not made a public appearance since taking office.May 30th - According to recent reports from Japan, the Cabinet Office has released the latest statistics showing that the Ministry of Defenses machinery manufacturing orders for fiscal year 2025 will reach nearly 2.69 trillion yen, roughly tripling in the past five years. This accounts for nearly half of the governments public service orders totaling approximately 5.53 trillion yen for fiscal year 2025. It is understood that increased orders for equipment such as surface-to-air missiles and aircraft have driven up the total value of the Ministry of Defenses machinery manufacturing orders for fiscal year 2025.On May 30th, it was reported that on May 29th, Zhang Zhigang, Chairman and Party Secretary of the State Grid Corporation of China, and Zhang Wenfeng, General Manager and Deputy Party Secretary, held talks with Qian Chaoyang, Chairman and Party Secretary of China Southern Power Grid Co., Ltd., at the companys headquarters. Both sides stated that State Grid and China Southern Power Grid share common responsibilities in ensuring energy security, promoting energy transformation, building a strong energy nation, and serving the overall economic and social development. They agreed to focus on the 15th Five-Year Plan and further strengthen communication and deepen cooperation in areas such as technological innovation, policy recommendations, mechanism building, the electricity market, and industrial innovation to better promote high-quality development of the energy and power sector.May 30th - Data released today by the National Energy Administration shows that in April, my country issued 237 million green electricity certificates, of which 74.85% were tradable. In April, 71.1 million green certificates were traded nationwide, including 29.72 million green certificates traded for green electricity.On May 30th, it was reported that the U.S. 24th Marine Expeditionary Unit announced on the 29th that it had officially assumed command of the U.S. Southern Commands area of responsibility—specifically, the waters surrounding Latin America. According to the announcement, the unit has deployed over 1,300 Marines and sailors and has completed the handover from the previously deployed 22nd Marine Expeditionary Unit.

Gold Price Prediction: XAU/USD aims for $1,620.00 as yields surge and the Fed raises rates. Powell's address targeted

Alina Haynes

Sep 28, 2022 14:47

134.png 

 

Gold price (XAU/USD) is fluctuating at $1,625.00 after falling below the Asian session consolidation range of $1,626.83-1,632.72. The precious gold continues to decline after encountering obstacles over $1,640.00. Amid increasing U.S. Treasury yields, the price of gold is anticipated to fall to around $1,620.00. In addition, market participants will keep the precious metal on edge prior to Jerome Powell's Federal Reserve (Fed) address.

 

Fed Powell will sound hawkish and present a road map for additional rate hikes in the remainder of 2022, taking into account the responsiveness of the drop in price pressures to the central bank's rate of rate hikes. The Fed will want to remain data-dependent in 2023. As the gap between current rates and the goal terminal rate of 4.6% is relatively small in 2023, it seems certain that the Fed will slow the pace of rate hikes.

 

In the meantime, the continuous battle against inflationary pressures is boosting the yields on US Treasury securities. The benchmark 10-year rate has reached 4% for the first time since 2010. After reaching a crucial level, yields have experienced selling pressure but have opened the door for additional gains.

 

On an hourly basis, gold prices are exhibiting a reduction in volatility amid auctions inside a restricted range of $1,621.46-1,648.33. An explosion in the same will produce wider ticks and a high volume. The horizontal resistance is derived from the low on September 16 of $1,654.17.

 

Around $1,640.00, the 50-period Exponential Moving Average (EMA) has performed as a significant barrier for the counter. In addition, the Relative Strength Index (RSI) has slipped into the negative 20.00-40.00 region, triggering a momentum decline.