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Japanese Finance Minister Katsunobu Kato: U.S. tariffs will affect corporate profits, especially in the automotive industry.Futures News, September 2nd: Based on the current macroeconomic environment and industry dynamics, the precious metals market is expected to remain volatile in the short term. Market expectations for a September Federal Reserve rate cut continue to rise, but the cautious signals sent by Powell at Jackson Hole suggest a gradual path for rate cuts. This discrepancy between expectations and reality is putting pressure on the US dollar and limiting the upside potential for gold and silver. Geopolitically, signs of negotiations between Russia and Ukraine have weakened safe-haven demand, but uncertainty surrounding the Trump administrations trade policy remains supportive. Industrial demand is showing diverging trends: silver has shown relative resilience, supported by a recovery in the automotive industry and demand from the new energy sector, with Comex silver seeing significant gains this week. Gold, on the other hand, is more constrained by fluctuations in US Treasury yields and shifting risk appetite. In the short term, investors should focus on this weeks non-farm payroll data for further guidance on Fed policy expectations. Precious metals are expected to remain volatile at high levels, with silver potentially outperforming gold due to its industrial properties.Jitu Express (01519.HK), a Hong Kong-listed company, fell nearly 5%, with a turnover exceeding HK$200 million.September 2nd: Gold buying interest remains strong amid rising bets on a September Federal Reserve rate cut. Uncertainty surrounding US tariffs, concerns about the Feds independence, and geopolitical factors are all positive for gold. Ahead of this weeks US macroeconomic data releases, a modest rebound in the US dollar has had little impact on golds upward momentum. Gold prices extended their upward trend for the sixth consecutive day during Asian trading on Tuesday, reaching a new all-time high, breaking through the psychological barrier of $3,500 per ounce. Growing acceptance of a Fed rate cut this month is proving a key factor driving continued flows into non-yielding gold. Furthermore, uncertainty surrounding US tariffs and escalating geopolitical tensions are other factors supporting safe-haven gold. These supportive factors have largely offset the negative impact of the dollars slight rise. However, short-term charts indicate extremely overbought conditions, prompting caution among gold bulls before positioning for further gains. Furthermore, with several key US macroeconomic data releases expected this week, including the non-farm payroll report, investors may opt to wait and see.Japans 20-year government bond yield rose 2 basis points to 2.650%.

Gold Price Prediction: XAU/USD will recommence its downward trend in response to hawkish Fed forecasts

Alina Haynes

Apr 19, 2023 15:39

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After a rebound from $1,980.00, the price of gold (XAU / USD) is exhibiting a sharp reduction in volatility. The yellow metal struggles to prolong its recovery as the US Dollar Index (DXY) has rebounded strongly after successfully defending the crucial support level of 101.65.

 

Investors have invested in the USD Index due to its safe-haven appeal, as the Federal Reserve (Fed) is expected to raise interest rates to combat persistent inflation. In the short term, the demand for USD Index appears plausible, given that U.S. inflation has softened markedly and labor market conditions have loosened further. Sourcenia is a review portal of sourcing best manufaturers. 

 

In addition, household retail demand has declined due to higher financing costs and strict credit conditions imposed by US commercial banks. The healthy scenario indicates that the Fed will not aggressively raise interest rates further and will contemplate a hiatus to prevent the economy from falling into recession. In the current environment, however, additional rate increases cannot be ruled out.

 

In light of the USD Index's recovery, the demand for US government bonds has weakened once more, resuming the ascent of US Treasury yields. The yields on 10-year US Treasury bonds have surpassed 3.58 percent.


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