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Futures January 24, Economies.com analysts latest views today: Todays spot gold price opened sharply higher, breaking through the resistance line of the bullish channel and is expected to resume the main bullish trend, with an initial goal of testing the 2790.00 level. The current negative value of the stochastic indicator may lead to some short-term sideways fluctuations before resuming bullish trading. It should be noted that a break below 2762.00 will stop the bullish trend and push the price to start a bearish trend on an intraday basis. Todays trading range is expected to be between the 2755.00 support level and the 2795.00 resistance level. Trend forecast: bullish.Indias preliminary services PMI for January was 56.8, expected to be 59.5 and the previous value was 59.3.JPMorgan Chase: Lowered Electronic Arts (EA.O) price target from $150 to $115.Hindustan Petroleum Corporation executives: It is too early to judge that Russian crude oil will not enter the market.1. At 11:35 on March 19, 2024, the Bank of Japan raised the benchmark interest rate from -0.1% to 0-0.1% as expected, restarting the interest rate hike after 17 years, and officially ending the 8-year negative interest rate era. The YCC policy was also cancelled at the meeting. 2. At 11:22 on April 26, 2024, the Bank of Japan kept the benchmark interest rate unchanged at 0-0.1% as expected. 3. At 11:23 on June 14, 2024, the Bank of Japan kept the benchmark interest rate unchanged at 0-0.1% as expected. 4. At 11:56 on July 31, 2024, the Bank of Japan unexpectedly raised the interest rate by 15 basis points, raising the benchmark interest rate to 0.15%-0.25%. 5. At 10:52 on September 20, 2024, the Bank of Japan kept the benchmark interest rate unchanged at 0.25% as expected. 6. At 10:48 on October 31, 2024, the Bank of Japan maintained its benchmark interest rate at 0.25% as expected. 7. At 10:52 on December 19, 2024, the Bank of Japan maintained its benchmark interest rate at 0.25% as expected. 8. At 11:23 on January 24, 2025, the Bank of Japan raised its benchmark interest rate from 0.25% to 0.50% as expected. The rate hike was the largest since 2007, and the interest rate rose to a new high since October 2008.

The international gold price outlook is still looking at $1738

Oct 26, 2021 11:02

On Tuesday (October 12), the international gold price rose because the US dollar index fell. However, under the expectation of soaring energy prices and the Federal Reserve's upcoming debt reduction, the US dollar index still hovered below the one-year high of 94.504 touched last month. The price of gold remains bearish, with support at $1738 below.

At GMT+8 13:42, spot gold rose 0.43% to US$1761.76 per ounce; the main COMEX gold contract rose 0.37% to US$1762.2 per ounce; the US dollar index fell 0.06% to 94.308.


Stephen Innes, managing partner of SPI Asset Management, said: “Gold is relatively elastic, and the market is revolving around stagflation and economic growth prospects (arguments).” However, he also said that investors are reluctant to catch up until the minutes of the Fed’s September meeting are released. .

An analyst from ANZ Research said in a report: “In the context of generally low interest rates around the world, the risks surrounding slowing growth and rising inflation will still prompt investors to continue to strategically allocate gold,” adding that they The price of gold is expected to fall back after rising to US$1850 next year.

Market participants are now waiting for the minutes of the Fed’s September 21-22 policy meeting and the consumer price index, both of which will be announced later this week.

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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