EUR/USD 1.16086
-0.022%
Gold 4319.35
0.066%
Oil 100.384
-0.142%
USD/JPY 154.444
0.019%
GBP/USD 1.35105
-0.001%
GBP/JPY 208.664
0.013%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.2 occurred near Weining County, Bijie City, Guizhou Province at 05:53 on September 11. The final result is subject to the official rapid report.On September 11, according to CBS News, US President Trump proposed a "Trump bonus" of $5,000 to every American citizen if the Republican Party retains control of the House and Senate after the midterm elections. The day after proposing the idea, when asked by reporters whether the money would require congressional approval, Trump stated, "Well, we dont think so. If they really needed it, they certainly would, but we dont think its necessary. The country is doing very well right now, and weve earned trillions of dollars through tariffs and other means. Today, the total amount of manufacturing plant construction and other investments in the United States exceeds $20 trillion, a scale far exceeding any previous period. We think this is a good thing. However, we have a condition: the money must be spent domestically—we dont want this money flowing to other countries. We think this is a very good initiative, very popular, and will inject strong momentum into the economy."According to the Wall Street Journal, the Pentagon is in talks to provide a loan of approximately $5 billion to AI cloud computing startup FluidStack to strengthen the U.S. data center supply chain.U.S. Treasury Secretary Bessenter: We have the best-performing bond market in the world.US Treasury Secretary Bessenter: Sanctions will be imposed on a major bank next Monday.

Gold Price Prediction: XAU/USD aims to hold over $1,800 as market sentiment surges

Daniel Rogers

Dec 27, 2022 10:53

 195.png

 

Gold price (XAU/USD) has surpassed Friday's peak around $1,804.00 and is anticipated to change its auction profile over the psychological resistance of $1,800.00 during the Tokyo session. The precious metal is anticipated to maintain its upward pace as market players' risk appetite improves.

 

The risk profile has turned positive as investors anticipate a future fall in U.S. inflation, driven by a reduction in the Personal Consumption Expenditures (PCE) Price Index. A fall in consumption expenditure represents a reduction in household demand, which will be compensated by a decline in the pricing of products and services. This resulted in the S&P 500's rebound on Friday. In addition, a decrease in the demand for durable goods has bolstered prospects of a future reduction in inflation.

 

In the meantime, the US Dollar Index (DXY) has dropped abruptly to about 103.75 after struggling to surpass the immediate resistance level of 104.00 as a slowdown in family spending may compel the Federal Reserve (Fed) to reduce the upcoming peak in interest rates. Yields on 10-year US Treasuries have decreased to about 3.73 percent.

 

The gold price has rallied after testing the lower boundary of the four-hour Rising Channel chart pattern. The upper section of the aforementioned chart pattern is drawn from the high of around $1,786.55 on November 15, while the lower portion is drawn from the low of approximately $1,740.00 on November 29. The 100-period Exponential Moving Average (EMA) at approximately $1,791.00 has served as a significant support for the Gold price.

Suggestion