EUR/USD 1.16746
-0.020%
Gold 4490.06
-0.725%
Oil 84.226
-0.017%
USD/JPY 158.619
0.297%
GBP/USD 1.36047
-0.004%
GBP/JPY 215.801
0.304%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 20th, Samsung Foundry updated its technology roadmap at SAFE Forum 2026, adjusting its 1.4nm mass production timeline. It now anticipates mass production in 2029, approximately one year later than TSMC (TSMCs A14 is scheduled to enter mass production in 2028). Samsung Foundry initially released a press release in 2022 announcing mass production of its 2nm process in 2025 and its 1.4nm process in 2027.On August 20th, Daiwa Securities issued a report stating that Kuaishous (01024.HK) second-quarter results met expectations, but the company faces significant downward pressure in the second half of the year, with both revenue and profitability potentially falling short of market consensus. The bank lowered its 2026 net profit forecast for the company by approximately 40%. Daiwa downgraded Kuaishous rating by two notches from "Buy" to "Hold," lowering its adjusted earnings per share forecasts for 2026 to 2028 by 39% to 43%, and correspondingly reducing its target price by 44.4% from HK$72 to HK$40. Daiwa expects Kuaishous core business to continue to deteriorate in the second half of the year, particularly in online marketing and "other services" (including e-commerce commissions and Keling AI). Full-year 2026 online marketing revenue is projected to decline by 1% year-on-year, live streaming revenue by 16%, with only "other services" revenue growing by 10% year-on-year, resulting in an overall revenue decline of 3.5% year-on-year. The gross margin is expected to decrease from 55% in 2025 to 51% in 2026, and the adjusted net profit margin will also decrease significantly from 14.5% to 7%, equivalent to approximately RMB 9.5 billion.Germanys July PPI month-on-month rate and Switzerlands July trade balance will be released in ten minutes.On August 20th, according to US sources on the 19th, the US Department of Defense updated its casualty statistics, showing that since the US military action against Iran on February 28th, 18 US soldiers have been killed and 757 wounded. The report stated that four dead and dozens of wounded personnel had disappeared from the statistics in the US Defense Casualty Analysis System before reappearing, drawing criticism from the media and lawmakers. The US Department of Defense responded on social media, stating that this was due to a "temporary data interruption." Furthermore, regarding the Pentagons slow disclosure of wounded personnel information throughout the Iran conflict, the official explanation was "security needs."On August 20th, Citigroup released a research report stating that the supply and demand situation in core mainland cities is becoming healthier. Driven by continued strong market transactions, sales growth for mainland property stocks is expected to accelerate in September. Furthermore, the recent revision of the "Housing Provident Fund Management Regulations" by the State Council, expanding the uses of withdrawals to include home renovation and property management fees, will benefit the property management industrys fee collection and value-added service business development. The bank believes that numerous developers will launch more new projects in September, potentially driving a surge in the mainland property sector from August to October. Top picks include China Overseas Land & Investment (00688.HK), Jianfa International (01908.HK), China Resources Land (01109.HK), Beike-W (02423.HK), and China Jinmao (00817.HK).

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.

 

image.png 

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.

Suggestion