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Barclays expects the Federal Reserve to cut interest rates by 25 basis points each in June and December, compared to previous forecasts of cuts in March and June.JPMorgan Chase no longer expects the Federal Reserve to cut interest rates in 2026, after previously anticipating a 25 basis point cut in January. JPMorgan Chase now expects the Fed to raise rates by 25 basis points in the third quarter of 2027.On January 12th, according to Tianyancha business information, Changsha Haxing Network Technology Co., Ltd. was recently established. The legal representative is Yang Chenxi, the registered capital is US$10 million, and the business scope includes machinery and equipment leasing, shared bicycle services, information system integration services, electric bicycle sales, personal business services, internet sales, ticket agency services, centralized fast charging stations, and cloud computing equipment sales.January 12th - Driven by strong Black Friday sales, Australian household spending in November 2025 is projected to rise 1.0% month-on-month. Citigroup stated that, given the increased spending, it has revised its fourth-quarter 2025 household consumption growth forecast upwards to 1.5% from 1.0% (the previous forecast was already high). Citigroup economist Faraz Said added that quarterly GDP growth may far exceed the Reserve Bank of Australias (RBA) expectations. Therefore, Citigroup maintains its previous assessment that the RBA will need to raise interest rates in February and May.The Hang Seng Index rose over 1% in the afternoon session, with Alibaba Health (00241.HK) leading the gains among constituent stocks, rising over 8%. The Hang Seng Tech Index is currently up 2.17%.

Gold and Precious Metals Rise as Dollar Rally Fails to Continue

Skylar Williams

Aug 05, 2022 11:02

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As the U.S. dollar's upward trend began to level out on Thursday, the price of gold and most other precious metals rose.


At 20:56 EST (0057 GMT), the current price of gold was $1,767.41 per ounce, an increase of 0.1 percent. The price of gold futures increased by 0.4% to $1,783.60 per ounce.


Platinum futures gained by 0.1%, while silver futures jumped by 0.6% after falling by 1.0% over the previous two days.


Following a two-day surge, the U.S. dollar dropped, causing precious metals prices to rise. In the past two days, the dollar index has risen around 1 percent, as hawkish comments from two Federal Reserve officials have fueled expectations for more rapid interest rate increases this year.


Mary Daly, president of the Federal Reserve Bank of San Francisco, and Charles Evans, president of the Federal Reserve Bank of Chicago, both opined that inflation is elevated and that the Federal Reserve will likely increase interest rates further to combat rising prices.


Additionally, a potential improvement in U.S.-China ties fueled demand for the dollar as a safe-haven asset.


The U.S. Dollar Index declined by 0.1 percent during Asian trade on Thursday. Futures for the U.S. Dollar Index fell within a comparable range.


Despite the fact that gold appears to have recovered some ground over the past two weeks, the yellow metal's outlook for this year remains bleak due to the possibility of rising interest rates. As the Federal Reserve continues to tighten monetary policy, it is projected that the prices of the vast majority of other precious metals will also undergo muted fluctuations.


On the industrial metals market, copper futures decreased 0.2% to $3.4710 a pound. Futures for Zinc declined by 0.8% while futures for Nickel climbed marginally.


Copper prices dropped significantly this week as a result of a string of poor manufacturing PMIs from across the world. This pattern of poor manufacturing statistics is projected to weigh on industrial metals in the coming months.

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