EUR/USD 1.16833
0.055%
Gold 4534.08
0.249%
Oil 86.056
2.156%
USD/JPY 158.746
0.377%
GBP/USD 1.36375
0.237%
GBP/JPY 216.495
0.627%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
US Treasury Secretary Bessant: Interest rates are unrelated to repurchase decisions.U.S. Treasury Secretary Bessant: If there are any changes to the balance sheet, the Treasury and the Federal Reserve will work together.U.S. Treasury Secretary Bessenter: We will announce priorities for strengthening fiscal consolidation.The Iranian Foreign Ministry stated that the economic sanctions imposed by the United States on Iran violate the basic human rights of Iranian citizens and are a typical example of "economic terrorism" and "crimes against humanity."1. The Houthi rebels claimed to have attacked "sensitive" targets at Najran Airport and the Saudi Aramco plant in Najran. Saudi Arabia has not yet immediately confirmed this. 2. The U.S. Department of Energy will release $500 million in subsidies to seven key mining projects. 3. This week, Mysteels Coal and Coke Division surveyed the profitability of independent coking plants nationwide. The national average profit per ton of coke was -149 yuan/ton; the average profit for near-grade coke in Shanxi was -148 yuan/ton, in Shandong -130 yuan/ton, in Inner Mongolia -161 yuan/ton, and in Hebei -96 yuan/ton. 4. According to USDA agricultural drought monitoring data, as of August 18, 2026, the drought rate in U.S. soybean producing areas was 26%, unchanged from the previous week; the drought rate in U.S. corn producing areas was 28%, down 1 percentage point from the previous week; and the drought rate in U.S. cotton producing areas was 44%, up 4 percentage points from the previous week. 5. An Indian government order on Thursday allowed duty-free imports of 1 million tons of sugar, a move aimed at lowering record-high sugar prices. 6. The U.S. Department of Agriculture reported that for the week ending August 13, net export sales of U.S. corn for the 2025/2026 marketing year were 233,000 tons, compared to 411,000 tons the previous week; net export sales of soybeans for the 2025/2026 marketing year were 85,000 tons, compared to 75,000 tons the previous week; net export sales of cotton for the 2026/2027 marketing year were 209,000 bales, compared to 1,000 bales the previous week; and net export sales of wheat for the 2026/2027 marketing year were 394,000 tons, compared to 256,000 tons the previous week. 7. The latest monthly report from the International Grains Council (IGC) shows that global wheat production in 2026/27 is projected to decrease by 4 million tons year-on-year to 817 million tons, trade volume to decrease by 2 million tons to 203 million tons, and consumption to decrease by 2 million tons to 826 million tons; carryover stocks are expected to decrease by 4 million tons to 275 million tons. 8. The International Aluminium Institute (IAI) projects global primary aluminum production in July 2026 at 6.16 million tons, compared to 6.267 million tons in the same period last year, with the previous months figure revised to 5.939 million tons. The average daily primary aluminum production in July was 198,700 tons, with the previous months figure revised to 198,000 tons. Chinas primary aluminum production in July is projected to be 3.866 million tons, with the previous months figure revised to 3.727 million tons. 9. The US Climate Prediction Center (CPC) indicates that El Niño is strengthening, with a greater than 90% probability of a super event this fall and winter. 10. Data released by the U.S. Labor Department on Thursday showed that initial jobless claims fell by 6,000 to 206,000 in the week ending August 15. The median forecast from economists surveyed was 210,000. Meanwhile, continuing jobless claims rose to 1.8 million last week. 11. According to Xinhua News Agency, reporters learned from the Shanxi Provincial Bureau of Statistics on August 20 that Shanxi Provinces raw coal production from enterprises above designated size reached 68.933 million tons in July, and the cumulative raw coal production for the first seven months reached 680.287 million tons. 12. The U.S. Central Command confirmed that the aircraft carrier USS George Washington has been deployed to the Middle East, following the prolonged deployment of U.S. personnel aboard the USS Abraham Lincoln, which triggered a crisis. 13. EIA Natural Gas Report: For the week ending August 14, total U.S. natural gas inventories were 3,169 billion cubic feet, an increase of 16 billion cubic feet from the previous week and a decrease of 28 billion cubic feet from the same period last year, a year-on-year decrease of 0.9%, while being 185 billion cubic feet higher than the 5-year average, an increase of 6.2%.

Gold Price Prediction: XAU/USD anticipates additional gains ahead of China and U.S. inflation

Alina Haynes

Jan 11, 2023 11:54

Gold price (XAU/USD) demonstrates usual pre-data concern as it approaches $1,875 on Wednesday morning, exploring a three-day rally around the highest levels since May 2022. In doing so, gold demonstrates the market's faith in the traditional safe-haven, even if the US Dollar recovers from its multi-day low. The uncertainty surrounding the next steps of the US Federal Reserve (Fed) and the pessimistic economic forecasts of the World Bank (WB), not to mention cautious optimism towards China, may be to blame.

 

Federal Reserve (Fed) Chair Jerome Powell's remarks at Riksbank's International Symposium on Central Bank Independence were unable to provide additional clarification on the US central bank's monetary policy outlook, which prompted a stampede for gold in the face of uncertainty. In his most recent public appearances, the policymaker lauded the US central bank's latest steps while emphasizing the Fed's independence and lack of commitment to climate control. Notably, Federal Reserve Governor Michelle Bowman seemed hawkish when she stated that additional rate hikes are required to combat excessive inflation, which should have pressured the XAU/USD bulls in the aftermath.

 

Notably, the recent softening of hawkish bets on the Fed's next moves, as well as lower US data, appear to keep gold investors optimistic, despite the Federal Reserve's efforts to defend its tight monetary policy. Tuesday, the US NFIB Business Optimism Index for December fell to its lowest level since 2013 if various anxieties caused by the worldwide Covid wave are disregarded. In addition, US Wholesale Inventories for November stayed constant at 1.0% growth.

 

Alternatively, a rebound in the US Dollar Index (DXY) from the seven-month low appears to pose a threat to the Gold price, due to the inverse link between the XAU/USD and the dollar's index against the six main currencies. Tuesday marked the conclusion of a two-day downturn for the DXY as it rebounded from the multiday low to settle at 103.30. In doing so, the US Dollar Index tracked the firmer US 10-year Treasury note yields, which increased 10 basis points (bps) to 3.61 percent, falling one basis point (bp) to 3.60 percent at the latest.

Suggestion