EUR/USD 1.16389
0.347%
Gold 4669.85
1.920%
Oil 58.910
-0.589%
USD/JPY 157.765
-0.194%
GBP/USD 1.34094
0.223%
GBP/JPY 211.559
0.028%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
January 19th - According to statistics from the Guangdong Sub-Administration of the General Administration of Customs, in 2025, Guangdongs total import and export of goods reached 9.49 trillion yuan, a year-on-year increase of 4.4%, setting a new annual record. This accounted for 20.9% of the countrys total foreign trade, an increase of 0.1 percentage points from the previous year, ranking first among all provinces and municipalities for 40 consecutive years, contributing 24.1% to the national foreign trade growth. Specifically, exports reached 6.03 trillion yuan, an increase of 2.5%; imports reached 3.46 trillion yuan, an increase of 7.8%.The Indonesian rupiah fell further to 16,945 against the US dollar, a new low since early April 2025.On January 19th, George Chevelli, portfolio manager of natural resources at Ninety One, stated that there is more reason to believe that gold prices will consolidate or rise slightly rather than fall sharply. "Golds upward momentum is strong, but its fundamentals remain solid," he said. These fundamental factors include a weaker dollar, ongoing geopolitical tensions, expectations of a Federal Reserve rate cut, and escalating concerns about fiscal deficits and continued central bank demand.Market news: A 5.1-magnitude earthquake struck Tonga.On January 19th, Capital Economics pointed out that US President Trumps threat to impose tariffs on eight European countries in an attempt to "annex" Greenland, even if implemented, would have limited economic impact but would bring more serious political and geopolitical consequences. Chief Economist Neil Schelling stated that the legal basis for such tariffs is unclear, noting that Trump has not followed through on other similar threats. Any tariffs would lead to trade diversions within the EU. The UK and Germany, the USs largest export markets, would be the most affected. A 10% tariff would reduce GDP in both countries by about 0.1%, while a 25% tariff would reduce GDP by 0.2% to 0.3%. US inflation might rise by 0.1% to 0.2%, but this could be offset by other factors. However, any annexation of Greenland could cause irreparable damage to NATO.

Gold price prediction: XAU/USD expects to reach $1,770 before the combined US ISM data

Alina Haynes

Aug 01, 2022 11:45

 截屏2022-07-29 上午11.06.12_1024x576.png

 

The optimism shown last week in the Asian session for Gold Price (XAU/USD) is anticipated to continue as escalating recession worries in the US economy have fueled demand for the precious metal. The yellow metal moved sideways after setting a new three-week high at $1,768, but despite intense pricing pressures in the US economy, further gains are still justified.

 

The US Personal Consumption Expenditure (PCE) for Friday came in at 6.8%, above estimates and the previous release of 6.7% and 6.3%, respectively. Well, a 50 basis point increase in the Federal Reserve's (Fed) favored inflation gauge shows no symptoms of a price pressures weariness. However, anxiety over the recession has suddenly increased.

 

Investors will be watching the US Institute of Supply Management (ISM) data release in today's session. The ISM Manufacturing PMI is probably going to drop from its previous reading of 53 to 52. A decline in the Manufacturing PMI suggests that the Fed's aggressive increase in interest rates has begun to show its effects, but inflation has not yet been fully contained, which is a major cause for concern. Although the economic data is now higher at 52 compared to the previous release of 49.2, the New Orders Index still warrants a respectable improvement. This demonstrates that despite skyrocketing prices, consumer spending is rising quickly.


Suggestion