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According to the Financial Times, UK financial regulators are conducting an urgent assessment of the risks of Anthropics latest AI model.On April 12th, Maybank senior strategist Fiona Lim stated that while the market may be somewhat disappointed by the lack of progress in US-Iran negotiations, this was not entirely unexpected. The US dollar may gain further upward momentum at the opening on Monday. Some Asian currencies, particularly those of net energy importers such as the South Korean won, Philippine peso, Japanese yen, and Thai baht, began to weaken last Friday and may continue to face pressure this week.On April 12th, Saxo Banks Chief Investment Strategist, Charu Chanana, stated that the failure of the US-Iran negotiations was a setback. For the market, this means the previous easing of tensions is likely to fade. Oil prices may rebound, risk sentiment will be dampened again, and the Strait of Hormuz, even without a complete closure, will remain a real choke point risk. However, this is not surprising given the significant differences in the two sides positions on nuclear safeguards and the Strait of Hormuz issue. For the US dollar, this means some renewed safe-haven support, but unless there is a new military escalation, a broad-based surge is unlikely. Gold may benefit from renewed geopolitical hedging demand, but the market is not yet fully back to the worst-case inflation shock scenario.Kremlin: Russia is prepared to sell natural gas to Europe if there is still a surplus in supply to "alternative markets".Kremlin: Russia currently has only 17% to 18% of Donetsk Oblast in Ukraine out of control.

Gold Price Prediction: XAU/USD sellers try to maintain control ahead of an imminent bear cross

Daniel Rogers

Sep 05, 2022 16:26

 截屏2022-07-29 上午11.06.12.png

 

Bears must regain footing below $1,700 to resume their downward momentum. The next cushion is located at $1,690, which corresponds to the rising trendline support. Below a break of the yearly lows, a test of the 2021 low of $1,677 is possible if the decline accelerates below the latter.

 

"The 21-day moving average (DMA) is poised to cross below the 50-day moving average (DMA), which, if confirmed by a daily closing price, will constitute a bear cross. The bearish crossover will lend credence to the metal's bearish prospects.

 

"The initial barrier for bulls will be Friday's high of $1,718, above which the $1,720 round figure could come into play. The August 31 high of $1,727 could be difficult for buyers of XAU."