EUR/USD 1.18526
-0.986%
Gold 4847.62
-9.836%
Oil 65.488
0.377%
USD/JPY 154.755
1.076%
GBP/USD 1.36826
-0.917%
GBP/JPY 211.750
0.158%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
January 31st - Sources familiar with the matter revealed that Nvidias (NVDA.O) plan to invest up to $100 billion in OpenAI to help train and run its latest artificial intelligence models has stalled after some within the chip giant expressed doubts about the partnership. The two companies announced the massive agreement last September at Nvidias headquarters in Santa Clara, California. They signed a memorandum of understanding under which Nvidia would build at least 10 gigawatts (GWh) of computing power for OpenAI, while the chipmaker also agreed to invest up to $100 billion to help OpenAI cover related expenses. As part of the deal, OpenAI agreed to lease chips from Nvidia.January 31 - According to Interfax news agency, the Russian government announced on Saturday that it will lift the ban on gasoline exports to oil production companies to alleviate inventory backlogs. The government statement also noted that the ban on gasoline exports to non-production companies will remain in effect until the end of July 2026.According to Interfax news agency, Russia has lifted its ban on gasoline exports to producers.January 31st - According to data from platforms such as Dongchedi, the Xiaomi SU7 Ultra sold only 45 units in December 2025. Blue Whale News reported that the highest monthly sales figure for the Xiaomi SU7 Ultra was March 2025, with 3,101 units sold. From March to August 2025, monthly sales of the Xiaomi SU7 Ultra remained between 2,000 and 3,000 units. However, starting in September, sales plummeted, with only 488 units sold that month. October sales further dropped to 130 units, November sales fell below 100 units, and by December sales had fallen below 50 units.January 31 - According to the China Railway 12306 Technology Center, since the Spring Festival travel rush train tickets went on sale on January 19, as of 11:00 AM on January 31, the railway department has sold a total of 51.02 million tickets.

Gold Price Prediction: XAU/USD tests $1,880 as the US Dollar retreats in advance of Fed Chair Powell's speech

Daniel Rogers

Feb 07, 2023 15:38

 截屏2022-06-07 下午5.15.00.png

 

During early Tuesday trading, the gold price (XAU/USD) gains bids to retest the intraday high near $1,876 while printing a two-day rise.

 

In doing so, the precious metal extends its recovery from a monthly low at the start of the week, as the US Dollar's weakness combines with cautious optimism in the market to favor XAU/USD bulls. However, apprehension in front of Federal Reserve Chairman Jerome Powell and US President Joe Biden's State of the Union (SOTU) remarks appears to be challenging metal buyers recently.

 

The modestly optimistic feeling could be attributed to Treasury Secretary Janet Yellen and President Joe Biden's remarks that pushed back US recession fears. In a similar vein, US President Joe Biden's remarks that "the balloon incident did not damage US-China relations" appeared to allay Sino-American concerns.

 

On the other hand, hawkish Fed comments appear to support US Treasury bond yields and the US Dollar. In an interview with Bloomberg, Federal Reserve Bank of Atlanta President Raphael Bostic stated, "The robust job market presumably suggests 'we have a bit more work to do.'" Notably, the stronger US jobs report and activity statistics for January rekindled the Fed's hawkish stance last Friday, but a lack of directions appeared to test the USD bulls subsequently.

 

In this environment, S&P 500 Futures post modest gains, as US Treasury bond rates struggle to extend their two-day recovery from the monthly low. Observe that the US Dollar Index (DXY) has likewise retreated from the one-month peak it reached the day before amid lackluster market conditions.

 

Gold traders should focus on Fed Chair Powell's ability to compliment the most recent good US data as well as US President Biden's State of the Union address.


Suggestion