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Golden Cat and Silver Cat (01815.HK): Starting from April 29, the Chinese stock name will be changed to "Everest Gold".April 23, Ukraines First Deputy Prime Minister Yulia Svirizenko said on Wednesday that Ukraine is ready to negotiate but will not surrender. At the same time, the media reported details of an agreement proposed by the United States. Under the agreement, Ukraine will be forced to give up almost all of the territory currently controlled by Russia. "No agreement will provide Russia with a stronger basis for reorganization and return with greater violence," Svirizenko wrote. "A comprehensive ceasefire, on land, in the air, at sea - is a necessary first step," she said, adding that if Moscow instead chooses a limited ceasefire, Kiev will respond in the same way. Meanwhile, Ukrainian President Zelensky said Ukraine insists on an immediate, comprehensive and unconditional ceasefire with Moscow. He wrote that Ukraine has repeatedly stated that it does not rule out any form of negotiation that could lead to a ceasefire.April 23, Ukraines First Deputy Prime Minister Yulia Svirizenko said on Wednesday that Ukraine is ready to negotiate but will not surrender. At the same time, the media reported details of an agreement proposed by the United States. Under the agreement, Ukraine will be forced to give up almost all of the territory currently controlled by Russia. "No agreement will provide Russia with a stronger basis for reorganization and return with greater violence," Svirizenko wrote. "A comprehensive ceasefire, on land, in the air, and at sea - is a necessary first step," she said, adding that if Moscow instead chooses a limited ceasefire, Kiev will respond in the same way. Meanwhile, Ukrainian President Zelensky said Ukraine insists on an immediate, comprehensive and unconditional ceasefire with Moscow. He wrote that Ukraine has repeatedly stated that it does not rule out any form of negotiation that could lead to a ceasefire.On April 23, JPMorgan analysts said in a report that if US tariffs hurt the global economy, the pound could weaken. They said that a common view among investors is that in a tariff-focused market, the British economy relies more on the service industry and exports less goods to the United States, and the pound should benefit from it. In addition, the 10% tariff imposed by the United States on the UK is much lower than that imposed on other economies. However, the spillover effects of global tariff policies on the British economy and the lack of fiscal room for maneuver in the UK mean that the pound will suffer instead. Analysts expect that the strengthening of the pound due to a potential UK-US trade agreement may be short-lived, as this seems to have been reflected in the price.On April 23, Noah Wise, senior portfolio manager at Allspring Global Investments, said that the markets expectation that the Federal Reserve will cut interest rates three to four times in 2025 and five to six times by July 2026 is reasonable. "Not because this is our expectation, but it strikes a delicate balance between two very different but very likely scenarios." In the first case, inflation remains high and the economy avoids falling into recession, which means that the Federal Reserve will cut interest rates at a slower pace than the market currently expects. In another case, the economy declines and inflation falls, and there may be five to six interest rate cuts by the end of 2025, and eight or more interest rate cuts by July 2026, depending on the severity of the recession.

Gold Range Holds Tight Ahead of Fed Meeting

Charlie Brooks

Sep 20, 2022 10:53

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Tuesday, in anticipation of a U.S. Federal Reserve meeting that is expected to result in an interest rate hike, investors refrained from placing major bets on gold prices, holding the price of the precious metal within a limited range.


Spot gold jumped 0.2% to $1,679.14 per ounce around 20:11 EST, while gold futures climbed 0.6% to $1,687.85 per ounce (00:11 GMT). Following a week of dramatic drops, neither instrument has seen notable movement since Monday.


As the U.S. dollar fell on Tuesday, there was a slight lessening of pressure on gold. The dollar stayed at 20-year highs, whilst U.S. Treasury rates soared before the Fed's announcement of interest rate changes.


On Wednesday, it is widely expected that the central bank would increase interest rates by 75 basis points bps, while traders are also considering the possibility of a 100 basis point increase. In August, U.S. inflation remained at 40-year highs, bolstering expectations for a hefty Fed rate hike. The data led to a strengthening of the dollar and a continuation of losses on the metal markets.


The yellow metal is now trading lower for the year as a result of the Federal Reserve's rate rises. Beginning of the Russia-Ukraine conflict coincided with gold's price peak. Recently, gold prices fell below $1,700, which was seen as one of the last remaining points of support before a steeper decline.


Tuesday saw both platinum and silver futures recover from recent losses and advance.


Copper prices for industrial metals climbed by 0.2% to $3.5323 per pound. Recently, though, the dollar has pushed pressure on red metal.


In spite of expected supply shortages due to a strike at the Escondida copper mine in Chile, the outlook for copper prices this year is clouded by signs of a global slowdown in economic growth.