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On August 27, local time, the Israel Defense Forces (IDF) issued a statement saying that Hezbollah launched two drones carrying explosive devices at IDF troops operating within the "safe zone" in southern Lebanon between the night of August 26 and the early morning of August 27. IDF soldiers stationed in the area quickly opened fire upon detecting the threat, shooting down one of the drones. No IDF personnel were injured in the attack. The IDF stated that it will not allow Hezbollah to take action against IDF soldiers within the safe zone. Troops are currently continuing operations in the area and will continue to take decisive action to counter Hezbollah attacks.Qatars Ministry of Foreign Affairs: Qatar and Iran reviewed efforts to ease regional tensions and created conditions for dialogue.On August 27, Shimao Group (00813.HK) announced on the Hong Kong Stock Exchange that it filed a winding-up petition against the company with the High Court of the Hong Kong Special Administrative Region on August 27, 2026. The petition concerns judgment debts arising from four judgments rendered by courts in Mainland China, totaling RMB 2,497,885,817. The High Court has set the first hearing date for the petition as November 11, 2026.On August 27, the Egyptian Foreign Ministry issued a statement saying that Egyptian Foreign Minister Bader Abdellatifi and Russian Foreign Minister Sergey Lavrov discussed recent developments in the Middle East, including a joint proposal from Iran and Oman to establish a temporary maritime passage through the Strait of Hormuz. The statement added that the call also touched upon Egyptian-Russian relations.August 27th - Currency traders are increasing their hedges against further dollar gains. Markets are preparing for continued dollar strength ahead of Federal Reserve Chairman Warshs key speech at the Jackson Hole symposium on Friday. The dollar has recovered half of its losses since Treasury Secretary Bessenters unexpected move last week to support the bond market, which worsened market sentiment. Data from the CME Group shows that so far this week, 57.2% of dollar options trades are poised to benefit from a stronger dollar against a basket of major currencies, up from 43.2% last week. Meanwhile, the bearish bias of the risk reversal indicator (a measure of options market positioning and sentiment) has weakened, with negative sentiment reduced by about half. ING strategist Pesole said, "This could be a decisive event for the FX market; the market may be reluctant to build too many short dollar positions." However, Spectra Markets analyst Brent Donnelly pointed out that the Jackson Hole symposium may ultimately have little impact on the market. He believes that given recent U.S. economic data, it would be difficult for Warsh to take a hawkish stance; and considering that the Treasury is already working to curb long-term yields, a shift to a dovish stance would also seem awkward.

Look at $1727 under the international gold price

Oct 26, 2021 10:59

On Wednesday (October 6), international gold prices continued to fall, as the dollar’s strength and the rise in the yield of US 10-year Treasury bonds weakened the attractiveness of gold. Investors focused on US non-agricultural employment data later this week.

At 14:14 GMT+8, spot gold fell 0.37% to US$1753.79 per ounce; the main COMEX gold contract fell 0.40% to US$1753.0 per ounce; the US dollar index rose 0.15% to 94.126.


The 10-year U.S. Treasury yield hit a high of 1.571% since June 18, and the US dollar is close to 94.504, the highest point since September 28 last year recorded last week, weakening the attractiveness of gold to holders of other currencies.

David Meger, director of metal trading at High Ridge Futures, said that the dollar and U.S. bond yields have risen after a slight correction in the past few days, as well as the stock market rebound, which is driving down gold prices.

Friday (October 8) US employment data is expected to show that 470,000 new jobs will be added in September. This data is critical to the timetable for the Fed to cut its economic support.

On the daily chart, the price of gold has started a three-wave downward trend from US$1770. The support below looks to the 23.6% target of US$1744 and the 38.2% target of US$1727. Wave 3 is a sub-wave of the downward (3) wave that started at $1834. (3) Wave is a sub-wave of the downward ((Y)) wave that started from 1917 USD. The ((Y)) wave belongs to the adjusted IV wave that started at $2,075.