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July 10th, local time on July 9th, Ukrainian President Zelensky met with US Special Envoy for Ukraine Kellogg in Rome, Italy. Kellogg was a member of the US delegation to attend the International Conference on Ukraine Reconstruction held in Rome, Italy from July 10th to 11th. Zelensky said that the two sides discussed issues such as purchasing US weapons, conducting joint defense production, localizing weapons production in Ukraine, and sanctions against Russia. Previously, US President Trump promised to provide Ukraine with additional weapons.July 10, the Russian Ministry of Defense issued a war report on the 9th, saying that the Russian army carried out a cluster attack on the infrastructure of Ukrainian military airports. Ukraine said on the same day that Russia launched a new round of large-scale attacks on multiple Ukrainian cities. The Russian Ministry of Defense issued a war report saying that in the early morning of the 9th, the Russian army used long-range air-based high-precision weapons such as "Dagger" hypersonic missiles and long-range attack drones to carry out a cluster attack on the infrastructure of Ukrainian military airports. The strike target has been achieved and all established targets have been destroyed. The Russian air defense system shot down 9 guided air bombs, 4 US-made "HIMARS" rockets and 226 drones.A Russian airstrike in Kostyantynivka in Ukraines Donetsk region has killed three people, local emergency services said.July 10, a spokesman for the British Prime Ministers Office said on July 9 that British Prime Minister Starmer met with visiting French President Emmanuel Macron at 10 Downing Street that afternoon. Both sides agreed that combating illegal immigration and smuggling is a priority for both countries and joint action must be taken. A spokesman for 10 Downing Street said that Starmer and Macron also expressed their willingness to further deepen the partnership between the two countries, including strengthening defense cooperation, expanding bilateral trade and investment, and strive to make tangible progress in the above areas when the 37th UK-France summit is held on the 10th.July 10th news: On July 9th local time, the U.S. Senate confirmed Brian Bedford as the Director of the Federal Aviation Administration with 53 votes in favor and 43 votes against.

Gold Remains Close to $1,800 for 2022 Despite US Data

Haiden Holmes

Dec 08, 2022 11:51

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Gold bulls seem intent on ending the year at or over $1,800 per ounce. Economic data from the United States that is proving better than anticipated as 2022 draws to a close might be cause for alarm.


In spite of expectations that the Federal Reserve will slow the pace of monetary tightening for the first time in six months when it meets on December 14, bullish U.S. data this week on factory orders and non-manufacturing have reignited rumors that the central bank could become more aggressive in 2023 regarding rate hikes.


Nonetheless, gold bulls look eager to preserve the market momentum of the past two weeks, which has returned the price to over $1,800. The yellow metal's price has reached $1,600 after around 15 weeks of either sideways trading or outright meltdown.


While the October U.S. macroeconomic statistics released this week were stronger than anticipated, the dollar, which is the primary beneficiary of such data and increasing interest rates, has not yet skyrocketed, allowing gold bulls to maintain their position.


The Dollar Index, which measures the U.S. dollar to the euro, yen, pound, Canadian dollar, Swedish krona, and Swiss franc, declined 0.4% on Wednesday after gaining almost 1% in the previous two days. Last week, it reached a near six-month low of 103.935.


According to Ed Moya, an analyst at the online trading platform OANDA, "safe-haven flows look to be the trend of the new year, creating a favorable environment for gold." Gold would want to fluctuate through the $1,800 threshold.


Gold futures for February delivery settled $2 short of the $1,800 level on Wednesday, closing at $1,798 after rising $15.60, or 0.9%. In post-settlement trading, the price reached $1,803.


At 15:50 ET (20:50 GMT), the spot price of gold, which is followed more closely than futures by some traders, was $1,787.26 per ounce (20:50 GMT).


Technically, spot gold was in a strong position to hit $1,800 or higher before the end of the year, SKCharting.com said in a forecast shared with Investing.com.


Spot gold would consolidate below the 100-week Simple Moving Average of $1,800 and above the 5-week Exponential Moving Average of $1,760, according to SKCharts.com.


"However, the positive trend is expected to continue so long as prices remain over $1,760." Sustenance above $1,777 might be the first indicator of a resumption of the uptrend toward $1,800, with $1,810 and $1,825 as the next immediate targets."

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