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On September 14th, local time, on the morning of September 14th, the Israel Defense Forces issued a statement saying that in the past month, the Israeli army killed more than 20 members of the Palestinian Islamic Resistance Movement (Hamas) in military operations in the Gaza Strip, including several militants who participated in the attack on October 7, 2023. The statement also announced the names and photos of some of the personnel.On September 14, Leningrad Oblast Governor Drozdenko posted on social media that a train carrying 15 tank cars derailed in the Luzhsky region of the state that day, resulting in the suspension of rail traffic in both directions. The derailed tank cars were not carrying cargo, and the accident did not cause any casualties.According to the German Geoscience Research Center GFZ: A 5.66 magnitude earthquake occurred in northern Colombia.On September 14th, local time, Robert Brovdi, commander of Ukraines unmanned systems forces, announced on his official social media platform that Ukrainian drone and special operations forces had carried out a strike on the Kirish refinery in Leningrad Oblast, Russia. Leningrad Oblast Governor Drozdenko announced on the 14th that Russian air defenses had shot down four drones in Leningrad Oblast. The wreckage of the downed drones caused a fire within the Kirish refinery complex. The Kirish refinery is one of Russias five largest refineries, with an annual production capacity of approximately 20 million tons, primarily producing high-octane gasoline and various fuels.Ukrainian military: Ukraine attacked Russias Kirishi oil refinery.

Gold Price Prediction: XAU/USD attempts to increase auction profile over $1,750 as the US Dollar becomes turbulent

Daniel Rogers

Nov 30, 2022 15:20

截屏2022-11-08 下午5.37.34_1024x576.png

 

After a significant recovery above $1,748.00 during the Tokyo session, the gold price (XAU/USD) aims to move its business beyond $1,750.00. As the US Dollar index (DXY) has become volatile in advance of Federal Reserve (Fed) chair Jerome Powell's speech, the precious metal has attracted buying interest. This time, the Fed Chair's speech will have a substantial influence, as investors will glean hints regarding a slower rate of interest rate hikes.

 

The USD Index has attracted some bids at 106.60 following a decline and is expected to remain on edge as Wednesday's New York session will reveal important economic catalysts in addition to Fed Chair Powell's speech. S&P500 futures have regained a portion of their early-Asia losses. The yields on 10-year US Treasuries remain rock-solid over 3.74 percent.

 

Employment data from Automatic Data Processing (ADP) in the United States will be the most influential factor on the gold price. Preliminary estimates indicate that the US economy added 200k jobs in November, compared to 239k in October. The labor market data is suffering as a result of rising interest rates, which have prompted businesses to pause the hiring process due to rising concerns of a future slowdown.

 

On an hourly scale, the gold price is fluctuating between $1,740 and $1,760 before to the announcement of significant economic catalysts and Fed Powell's speech. The 20-period Exponential Moving Average (EMA) at $1,751.00 is converging with the asset, indicating a forthcoming consolidation.

 

In the meantime, the Relative Strength Index (RSI) (14) oscillates continually between 40.00 and 60.00, indicating that investors are on the sidelines ahead of significant developments.

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