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Influenced by the news of a ceasefire in Ukraine, the euro climbed to its highest point since July 2024 against the Swiss franc, up nearly 1% to 0.9636.March 12, the United States and Ukraine said in a joint statement that Ukraine agreed to accept an immediate 30-day ceasefire with Russia during talks with U.S. officials in Saudi Arabia. U.S. Secretary of State Rubio said he would make an offer to Russia, and now its up to Moscow. Ukrainian and U.S. officials held a closed-door meeting, and after more than eight hours of talks, the two sides issued a joint statement saying that Ukraine is willing to accept the U.S. proposal for an immediate 30-day temporary ceasefire, which can be extended if all parties agree, but must be accepted and implemented by Russia. "The United States will convey to Russia that Russias reciprocity is the key to achieving peace," the statement said. According to the statement, the United States will immediately lift the suspension of intelligence sharing and resume security assistance to Ukraine. The two sides also said that Washington and Kiev agreed to reach a comprehensive agreement on the development of Ukraines key mineral resources as soon as possible. The agreement has been brewing for several weeks but has been deadlocked due to a heated meeting between U.S. President Trump and Ukrainian President Zelensky at the White House last week.Ukrainian President Zelensky: Ceasefire is a "positive proposal".Chief Advisor to Ukrainian President Zelensky: Ukraine has once again demonstrated its determination to pursue peace.The S&P 500 and Dow Jones Industrial Average recovered some losses and the Nasdaq turned positive after Ukraine agreed to a 30-day ceasefire with Russia.

The international gold price looks at $1738 in the future

Oct 26, 2021 11:01

On Monday (October 11), international gold prices were slightly under pressure, due to the stabilization of the US dollar index and concerns that the Fed may begin to reduce stimulus this year amid weak employment data. Looking at the price of gold, the market outlook is $1738 per ounce.

At GMT+8 13:55, spot gold fell 0.04% to US$1756.46 per ounce; the main COMEX gold contract fell 0.07% to US$1756.3 per ounce; the US dollar index rose 0.01% to 94.117.


Last Friday (October 8), after the U.S. non-agricultural employment data was released, the price of gold hit a new high since September 22 to $1,781.41 per ounce, but in the end it gave up most of the gains and closed only 0.08% higher to $1,57.19 /ounce.

Data from the US Department of Labor last Friday showed that US employment increased by 194,000 in September, far below the expected increase of 500,000, and the increase was the smallest in nine months, affected by reduced school recruitment and labor shortages.

Despite the sharp slowdown in employment growth in September, as the latest wave of viral infections in the United States peaked and started to fall, coupled with the end of the generous unemployment subsidy program, employment growth may be boosted in the coming months. The Fed may begin to reduce its support for the economy next month.

On the daily chart, the price of gold has started a three-wave downward trend from US$1,781, and the support below looks to the 38.2% target of US$1738. Wave 3 is a sub-wave of the downward (3) wave that started at $1834. (3) Lang's 61.8% target is at $1688. (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.

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