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On March 20, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Director of the Office of the Central Foreign Affairs Commission, held a telephone conversation with Bonne, Foreign Affairs Advisor to the French President, at the latters request, to discuss the situation in the Middle East. Wang Yi elaborated on Chinas position, stating that the situation in the Middle East continues to deteriorate, with the conflict spilling over and expanding, impacting not only global energy supply stability but also causing a huge humanitarian crisis. Force cannot solve the problem, and unjust wars should not continue. Faced with the current critical situation, China and France, as permanent members of the UN Security Council, should strengthen strategic communication and coordination, firmly uphold the UN Charter and international law, and prevent the world from reverting to the "law of the jungle." The urgent priorities are: first, to curb the spread of the conflict and prevent further involvement from other countries; second, for the international community to issue a unified call for an immediate ceasefire and increase efforts to promote peace talks; and third, for the UN and the Security Council to play their due role in promoting the early restoration of regional peace and stability. Although facing difficulties, the correct path out of the crisis remains dialogue and negotiation, and China and France should make joint efforts in this regard.Chart: Performance of major currency pairs on Friday, March 20, 2026U.S. Treasury yields continued to climb, with the 10-year Treasury yield rising to a new high for the year at 4.32%.On March 20, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and director of the Office of the Central Foreign Affairs Commission, spoke by phone with Bonne, foreign affairs advisor to the French president, at the latters request, to discuss the situation in the Middle East.Ukrainian President Volodymyr Zelenskyy stated that Ukraine is working with Middle Eastern leaders to prepare for an "important agreement."

Gold Price Prediction: XAU/USD falls to roughly $1,810 despite a weakening US Dollar during the holiday week

Daniel Rogers

Dec 28, 2022 10:42

截屏2022-05-27 下午2.51.53.png

 

After failing to sustain above the crucial resistance of $1,830.00 on Tuesday, the gold price (XAU/USD) is falling at a steady clip in the Asian session. The precious metal had a furious swing but was unable to maintain control as the US Dollar Index (DXY) defended the downside and recaptured the 104.00 barrier. The price of gold has decreased to approximately $1,810.00 per ounce and is volatile despite decreased trading volume due to the holiday season.

 

In the meantime, the risk profile has changed as S&P500 market participants have shown a desire to sell. S&P500 futures have maintained their poor performance and will remain on edge in the absence of a crucial catalyst. Ten-year US Treasury yields have experienced a slight selling pressure, but continue to hold at 3.85 percent.

 

The reduction in demand for US Durable Goods and the fast decline in the Personal Consumption Expenditure (PCE) Price Index have increased the likelihood that the Federal Reserve (Fed) will reduce its policy rates sooner rather than later. ING economists concur that the recession will accelerate inflation's decline, allowing the Fed to reduce interest rates before the end of CY2023.

 

After a failed breakout attempt, the Gold price has reversed into the ascending triangle pattern on a four-hour scale. The horizontal resistance of the aforementioned chart pattern is drawn from the high on December 13 of about $1,824.55, while the upward trendline is drawn from the low on November 28 of $1,738.73.

 

At $1,807.00, the gold price is still above the 20-period Exponential Moving Average (EMA), indicating that the uptrend is robust. In the meantime, the Relative Strength Index (RSI) (14) has failed to persist above 60.00 and has dipped into the area of 40.00-60.00, indicating an impending consolidation.


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