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Federal Reserve Governor Lisa Cook will speak on monetary policy and the economic outlook in ten minutes.1. U.S. stock indexes closed mixed. The Dow Jones Industrial Average rose 0.53% to 49,501.3 points, the S&P 500 fell 0.51% to 6,882.72 points, and the Nasdaq Composite fell 1.51% to 22,904.58 points. Amgen rose over 8%, and Nike rose over 5%, leading the Dow Jones gains. The Wind U.S. Tech Big Seven Index fell 1.32%, Tesla fell nearly 4%, and Nvidia fell over 3%. The Nasdaq China Golden Dragon Index fell 1.95%, Kingsoft Cloud fell over 7%, and GDS Holdings fell nearly 7%. AMD plunged over 17%, dragging down the Nasdaq. 2. European stock indexes closed mixed. The German DAX fell 0.72% to 24,603.04 points, the French CAC40 rose 1.01% to 8,262.16 points, and the UK FTSE 100 rose 0.85% to 10,402.34 points. French stocks led the gains, boosted by a rebound in the luxury goods sector and the European Central Banks decision to keep interest rates stable; British stocks were lifted by a stronger pound; German stocks fell as difficulties in the auto parts industry and geopolitical concerns dampened investor sentiment. 3. The South Korean KOSPI index closed up 1.57% at 5371.1 points, setting a new record high. Samsung Electronics market capitalization surpassed 1000 trillion won, becoming the first listed company in South Korea to achieve this milestone. The Nikkei 225 index fell 0.78% to 54293.36 points, with semiconductor stocks collectively declining and auto stocks surging. 4. International precious metals futures generally closed higher, with COMEX gold futures rising 1.04% to $4986.40 per ounce and COMEX silver futures rising 5.36% to $87.77 per ounce. 5. The main WTI crude oil contract closed up 1.99% at $64.47 per barrel; the main Brent crude oil contract rose 2.09% to $68.74 per barrel. 6. U.S. Treasury yields were mixed. The 2-year Treasury yield fell 0.61 basis points to 3.555%, the 3-year Treasury yield fell 0.56 basis points to 3.632%, the 5-year Treasury yield fell 0.17 basis points to 3.830%, the 10-year Treasury yield rose 0.8 basis points to 4.274%, and the 30-year Treasury yield rose 2.38 basis points to 4.918%.February 5th - The China Federation of Logistics and Purchasing (CFLP) released its January 2026 China Logistics Industry Prosperity Index today (February 5th), indicating that the logistics business continues to expand. The January China Logistics Industry Prosperity Index was 51.2%, with the total business volume index, new orders index, logistics service price index, fixed asset investment completion index, employment index, and business activity expectation index all above 50%, indicating expansion.Alphabet (GOOG.O) has turned negative again, currently down 2%.Oracle (ORCL.N) issued $25 billion in bonds. In addition, Oracle may sell up to $20 billion in stock from time to time.

Gold Price Prediction: XAU/USD oscillates about $1,650 as DXY recovers recent losses

Alina Haynes

Oct 25, 2022 15:24

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Gold price (XAU/USD) is indecisive while rebounding from intraday lows to $1,650 ahead of Tuesday's European session.

 

Nevertheless, the yellow metal attracted purchasers earlier in the day due to a weaker U.S. dollar, but the currency's recent resurgence looks to have weighed on the price recently. It should be mentioned that unfavorable concerns regarding China, one of the world's largest gold consumers, have recently posed a threat to the pricing of precious metals.

 

In the absence of Fed-speak, the US Dollar Index (DXY) gains bids to reclaim the 112.00 mark while trimming its first weekly loss in three weeks. It should be emphasized that the Fed's aggressive rhetoric and weak US PMIs also support the DXY's safe-haven appeal.

 

China's efforts to protect its struggling economy and worldwide pessimism regarding Xi Jinping's third term, not to mention Hang Seng's decline to a 13-year low, impose downward pressure on market mood and the XAU/USD exchange rate.

 

US 10-year Treasury rates continue under pressure around 4.21 percent, down two basis points (bps), while US stock futures and Asia-Pacific markets are moderately bid.

 

Moving forward, second-tier US Housing data and Consumer Confidence indicators may delight gold speculators before Thursday's third-quarter US Gross Domestic Product report (Q3).