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January 15: The trading volume of building materials was 64,100 tons, a decrease of 22.86% from the previous trading day. January 14: The trading volume of building materials was 83,100 tons, a decrease of 4.48% from the previous trading day. January 13: The trading volume of building materials was 87,000 tons, an increase of 12.26% from the previous trading day. January 10: The trading volume of building materials was 77,500 tons, a decrease of 4.79% from the previous trading day. January 9: The trading volume of building materials was 81,400 tons, an increase of 2.13% from the previous trading day. January 8: The trading volume of building materials was 79,700 tons, a decrease of 13.09% from the previous trading day. January 7: The trading volume of building materials was 91,700 tons, a decrease of 4.08% from the previous trading day. January 6: The trading volume of building materials was 95,600 tons, an increase of 2.36% from the previous trading day. Average last week: building materials transaction volume was 85,180 tons.On January 15, Tim Murray, an analyst at Pfizer, said in a report that US President-elect Trumps tariff and immigration proposals could exacerbate inflation, which could force the Federal Reserve to stop cutting interest rates or even raise them. The capital market strategist said this could lead to significant market volatility. He said: "The energy and financial industries may benefit from a friendlier regulatory environment, while renewable energy companies may face pressure if parts of the Inflation Reduction Act are repealed." Tough trade policies that increase tariffs could affect non-US stocks and cause volatility in affected industries.Barclays: Raised Tesla (TSLA.O) price target from $270 to $325.Morgan Stanley: Lowered Moderna (MRNA.O) price target from $70.00 to $38.00.On January 15, Matthew Ryan of Ebury said in a report that if the demand for 10-year gilt auctions is sluggish, the pound may fall again and gilt yields may rise. He said that the governments economic plan will only work if there is enough interest in buying gilts. Lack of interest will cause the pound to fall again and yields to rise as the market prepares for possible spending cuts and/or further tax increases in the UK to make up for the public finance gap. The pound is the worst performing G10 currency so far in 2025 as investors lose confidence in the governments control over public finances and its growth plans.

Gold Price Prediction: XAU/USD jumps $1,770 as risk appetite recovers and US NFP buzzes

Daniel Rogers

Aug 03, 2022 14:50

 截屏2022-08-02 下午5.45.26_1024x576.png

 

After reaching a low of $1,755.00 during the Asian session, the gold price (XAU/USD) has exhibited a purchasing response. The precious metal entered a corrective wave following a two-week juggernaut rally. In addition, a return in favorable market mood has strengthened the gold bulls.

 

Earlier, the escalation of Sino-American tensions over Taiwan caused a decline in risk appetite. The problem has not been resolved despite the presence of Russian and Chinese navy vessels near the disputed Taiwanese island. In response, Taiwan's Defense Ministry has stated that it will oppose any Chinese action that violates Taiwan's territorial sovereignty.

 

The US dollar index (DXY) benefited from market participants' liquidity on Tuesday, after investors supported the risk-off impulse. Now, the pessimistic forecast for US Nonfarm Payrolls (NFP) is pulling down the DXY. The DXY has printed a low of 106.00 as job gains are estimated to be 250k, which is less than the previous report of 372k. The unemployment rate is anticipated to remain unchanged at 3.6%. Major corporate players in the United States have abandoned the recruitment process for the remaining workforce, which will be reflected in the employment data.

 

The gold prices quickly recaptured $1,764.23, the 20-period Exponential Moving Average (EMA). On a four-hour period, the precious metal is trading within a Rising Channel, the higher section of which is shown from the July 22 high of $1,739.37 and the lower portion from the July 21 low of $1,681.87.

 

The 50-period exponential moving average (EMA) at $1,750.00 has held unchanged and is rising, adding to the upward filters. In addition, the Relative Strength Index (14) is striving to reclaim the bullish zone of 60.00-80.00 in order to accelerate the upward movement.


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