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April 13 - The Ministry of Commerce will hold a press conference at 3:00 p.m. on Thursday, April 16, 2026, where a spokesperson will introduce the recent key work in the commercial field and answer questions from reporters.Chinas new yuan loans so far this year reached 8.6 trillion yuan in March, exceeding the expected 9.06 trillion yuan and the previous months figure of 5.61 trillion yuan.April 13th - At the end of March, the balance of domestic and foreign currency deposits reached 350.23 trillion yuan, a year-on-year increase of 8.7%. The balance of RMB deposits at the end of March was 342.41 trillion yuan, a year-on-year increase of 8.6%. RMB deposits increased by 13.73 trillion yuan in the first quarter. Among them, household deposits increased by 7.68 trillion yuan, non-financial enterprise deposits increased by 2.68 trillion yuan, fiscal deposits increased by 460.6 billion yuan, and deposits of non-bank financial institutions increased by 2.03 trillion yuan. At the end of March, the balance of foreign currency deposits reached 1.13 trillion US dollars, a year-on-year increase of 17.8%. Foreign currency deposits increased by 70.3 billion US dollars in the first quarter.Chinas total social financing in March increased by 14.83 trillion yuan so far this year, compared with an expected 15.1745 trillion yuan and a previous value of 9.6 trillion yuan.April 13th - At the end of March, the outstanding balance of domestic and foreign currency loans was 284.51 trillion yuan, a year-on-year increase of 5.7%. The outstanding balance of RMB loans at the end of March was 280.51 trillion yuan, a year-on-year increase of 5.7%. RMB loans increased by 8.6 trillion yuan in the first quarter. By sector, household loans increased by 296.7 billion yuan, of which short-term loans decreased by 164 billion yuan and medium- and long-term loans increased by 460.7 billion yuan; loans to enterprises and institutions increased by 8.6 trillion yuan, of which short-term loans increased by 4.13 trillion yuan, medium- and long-term loans increased by 5.42 trillion yuan, and bill financing decreased by 1.1 trillion yuan; loans to non-bank financial institutions decreased by 368 billion yuan.

June Gold Buyers May Face Difficulties at $1987.60

Larissa Barlow

Apr 14, 2022 10:14

The market's strength is being fueled by demand for a hedge against rising inflation during the Russia-Ukraine conflict, lessening pressure from expectations of an aggressive US interest rate hike, and the US Dollar's intraday reversal top.

 

June Comex gold futures are currently trading at $1982.70, up $6.60 or 0.33 percent from their previous close. The SPDR Gold Shares ETF (GLD) is currently trading at $184.66, up $0.89 or 0.48 percent from its previous close.

 

Gold is regarded as an inflation hedge and a hedge against geopolitical concerns. However, higher interest rates in the United States would increase the opportunity cost of storing non-yielding bullion and strengthen the dollar against which it is valued.

 

However, the price action shows that gold buyers are seeking insurance against inflation and are not very concerned about opportunity costs at the moment. Despite all of the Fed's hawkish rhetoric and anticipation for aggressive rate hikes, we have yet to witness a shift in the direction of inflation.

 

Gold is likely to remain underpinned for the foreseeable future as long as the inflation arrow continues to point upward and the Ukraine war continues.

 

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Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the primary trend is upward. A move over the intraday high of $1985.50 reaffirms the uptrend. A break of $1916.20 will revert the major trend to the downside.

 

On the upside, the retracement zone between $1987.60 and $2009.90 is the nearest objective.

 

On the downside, the long-term Fibonacci level at $1958.70 serves as the initial support, followed by the short-term 50% level at $1932.90.

Technical Forecast for the Daily Swing Chart

The June Comex gold futures market's path through Wednesday's close is likely to be dictated by trader reaction to the 50% level at $1987.60.

Scenario of Bullishness

A sustained move above $1987.60 will signal that buyers are present. This could provide the necessary momentum for a test of the Fibonacci level at $2009.90. This is a trigger point for an upside acceleration.

Scenario of the Bear

A persistent decline below $1987.60 indicates the existence of sellers. They intend to attempt the formation of a secondary lower top. This, if successful, might result in a break into $1958.70.

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