EUR/USD 1.16562
0.035%
Gold 4625.43
0.674%
Oil 81.161
-0.333%
USD/JPY 159.187
-0.067%
GBP/USD 1.35959
-0.002%
GBP/JPY 216.415
-0.080%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
U.S. energy company Sampra Energy said that if the project is approved and built, it will export up to 27 million metric tons of liquefied natural gas, with exports expected to begin in the second half of 2034.Regulatory filings show that U.S. energy company Sampra Energy has initiated the process of building a new liquefied natural gas (LNG) plant in southeastern Texas. The company plans to build a four-line LNG plant as an expansion of its existing LNG export facilities.Japans purchases of foreign stocks in the week ending August 21 were -869 billion yen, compared to 1,391.3 billion yen in the previous week.Foreign investors net outflowed ¥764.1 billion from Japanese stocks in the week ending August 21, compared with a revised ¥622.4 billion in the previous week (originally ¥621.2 billion).On August 27th, after the close of trading on Wednesday, Nvidia (NVDA.O) investors experienced a rollercoaster ride: after releasing its quarterly earnings report, the companys stock price initially fell before rebounding sharply. Nvidias second-quarter results easily exceeded market expectations, and the company raised its third-quarter earnings forecast. Investors bullish on the company saw this as another boost to the AI investment theme. However, after a long period of gains in tech stocks, the results initially seemed insufficient to excite the market. However, as the earnings call unfolded, market sentiment improved significantly. Nvidia CEO Jensen Huang and other executives stated that the company expects revenue to grow by 70% in fiscal year 2028 and further elaborated on their previous view that AI has reached an inflection point. Nvidias stock price subsequently rose by nearly 5%. Analysts pointed out: "Currently, Nvidias stock price fluctuations are within market expectations. The challenge for the company is no longer simply delivering good results, but rather delivering results that are even better than what investors expect. In this situation, exceeding Wall Street expectations is almost just an entry ticket."

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.


Suggestion