EUR/USD 1.14879
0.232%
Gold 4578.03
1.486%
Oil 99.588
-2.304%
USD/JPY 159.784
0.044%
GBP/USD 1.32159
0.247%
GBP/JPY 211.172
0.294%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Hang Seng Index futures opened down 0.08% at 24,725 points, a discount of 27 points.On March 31, the State Administration for Market Regulation released a report on the progress of the 2025 "Quality Certification Improvement Action for Small and Micro Enterprises." According to statistics, a total of 1,816 supporting incentive policies were introduced nationwide, providing approximately 123.5 billion yuan in financial credit support such as "certification loans," and implementing 930 million yuan in fiscal subsidies. 488 certification bodies reduced or waived certification fees by approximately 100 million yuan, provided free training to 722,000 enterprises, provided targeted assistance to over 79,000 enterprises, resolved approximately 48,000 key quality issues, cultivated approximately 138,000 quality management talents, and indirectly created approximately 143,000 new jobs. Small and micro enterprises participating in the improvement action saw an average annual revenue increase of approximately 14.8%, an average profit margin increase of approximately 6.8%, and an average quality cost decrease of approximately 12.2%. Meanwhile, enterprises continued to increase their investment in innovation, with R&D investment as a percentage of revenue increasing by an average of 7.6%.March 31st - Both WTI and Brent crude oil prices continued to decline, falling more than 1% intraday, currently trading at $104.23/barrel and $106.82/barrel respectively. In related news, reports indicate that Trump is willing to end the war while the Taiwan Strait remains closed.March 31 - On March 30, local time, a village on Qeshm Island in southern Iran was attacked by the United States and Israel, resulting in eight deaths. Qeshm Island is Irans largest island and the largest island in the Persian Gulf, located north of the Strait of Hormuz.Japanese Finance Minister Satsuki Katayama: We are prepared to take all necessary measures in the foreign exchange market.

Gold Price Prediction: XAU/USD recovers within the weekly bearish trend, Covid; Treasury yields in focus

Daniel Rogers

Nov 22, 2022 14:56

227.png 

 

Early Tuesday morning, the gold price (XAU/USD) reaches $1,745 for the first daily increase in four. In doing so, the precious metal applauds the wide US Dollar decline during a likely sluggish day preceding Wednesday's crucial data/events.

 

Consequently, the US Dollar Index (DXY) falls intraday by 0.25 percent to 107.55, halting a three-day rally. Recent challenges to the hawkish concerns surrounding the US Federal Reserve are reflected in the dollar's metric, which tracks US Treasury yields (Fed).

 

The US 10-year Treasury yields decline for the first time in four days, falling one basis point to around 3.81% as of press time, as the most recent remarks from Federal Reserve (Fed) members fail to buttress the previously hawkish attitude.

 

In a CNBC interview, Loretta Mester, president of the Federal Reserve Bank of Cleveland, stated, "I think we can ease down from 75 in the December meeting." Previously, Atlanta Federal Reserve President Raphael Bostic rejected the 75 basis point move and challenged the DXY bulls. In addition, October readings of -0.05 for the Chicago Fed National Activity Index, compared to the prior reading of 0.17, posed a challenge to US Dollar bulls.

 

On the other hand, a seven-month high in daily coronavirus cases from China rekindled fears of a supply bottleneck and gave US Dollar purchasers optimism ahead of tomorrow's preliminary monthly activity data and Federal Open Market Committee (FOMC) Meeting Minutes.

 

In addition, the most recent articles from Nikkei Asia imply that China is likely hoarding the metal while selling US Treasury bonds, which gives buyers of gold reason for optimism.

Suggestion