EUR/USD 1.17843
0.020%
Gold 4792.31
0.033%
Oil 89.675
0.056%
USD/JPY 159.118
-0.014%
GBP/USD 1.35309
0.033%
GBP/JPY 215.306
0.030%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 17th, SenseTime (00020.HK) announced that on April 16th, 2026, the company entered into a placing agreement with a placing agent, under which the placing agent conditionally agreed to use its best efforts to procure at least six placees to subscribe for 1.7 billion placing shares at a placing price of HK$1.91 per placing share (a discount of approximately 8.6% to the latest closing price). The gross proceeds and net proceeds from the placing are expected to be approximately HK$3.247 billion and HK$3.23 billion, respectively. The placing will provide the company with further financial resources to continue investing in these areas and support the Groups general working capital needs.The China Earthquake Networks Center officially determined that a 4.4-magnitude earthquake occurred in Zizhong County, Neijiang City, Sichuan Province at 06:22 on April 17, with a focal depth of 7 kilometers.Australian Prime Minister Albanese: Viva Energy’s Geelong refinery is still operating at 80% capacity for diesel and jet fuel production following the fire.1. Ukraine reports attacks on energy infrastructure, causing power outages in multiple areas. 2. TASS reports that Russia claims an oil tanker was attacked in its waters. 3. Ukrainian media reports that in a recent airstrike, a Russian drone dropped anti-Trump leaflets into Ukraine. 4. Ukraines Minister of Infrastructure reports that Russia has launched over 600 attacks on Ukrainian railway logistics this year, including 65 in April. 5. A Ukrainian drone commander reports that the Ukrainian military attacked Russian oil facilities in Crimea and port infrastructure in Tuapse. 6. A local governor stated that a Russian drone struck a civilian vessel flying the Nauru flag in the Odessa region of Ukraine, but the vessel continued on its original course. 7. The Russian Ministry of Defense reports that in the past 24 hours, the Russian military launched a large-scale attack using land-based, air-based, and sea-based long-range high-precision weapons and attack drones against Ukrainian defense industrial complex facilities used for the production of cruise missiles and medium-to-long-range drones, as well as fuel and energy complex facilities serving the Ukrainian military.According to SEC filings, Netflixs co-CEOs will receive a total compensation of $53.2 million in 2025.

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