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On April 28, Goldman Sachs published a research report last Tuesday, saying that Pop Mart (09992.HK) had a positive first quarter performance. Considering the fluctuations in consumer sentiment since the beginning of the year, the strong growth in the offline market was a pleasant surprise. Looking forward to the second quarter, the growth visibility is relatively high, the sales momentum of IP products is bright, and the launch of new products is expected to become a catalyst. Accordingly, the profit forecast for 2025 to 2027 will be raised by 14% to 17%. Based on valuation, Goldman Sachs still maintains Pop Marts "neutral" rating, and the target price is raised from HK$132 to HK$151, corresponding to a forecast price-to-earnings ratio of about 25 times in 2027.Fitch: Saudi Arabias debt capital market is developing rapidly, but faces volatility risks in the global market.Futures April 28th, Economies.com analysts latest views today: Spot silver prices fell in recent intraday trading. After it stabilized below $33.00, it broke through the bullish correction trend line that supports its short-term trading. This breakthrough increased downward pressure, prompting prices to fall below its EMA50 support level.Futures, April 28, Economies.com analysts latest views today: Spot gold fell in recent intraday trading after touching its EMA50 resistance at the beginning of this weeks trading, accompanied by a retest of the secondary bull trend line that had been broken in the short term. It was affected by negative pressure, which hindered its rebound and lost its earlier gains.Futures April 28, Economies.com analysts latest view today: Brent crude oil futures fell slightly in recent intraday trading, relying on its EMA50 support, and remained stable above 65.00, supported by the positive signal of RSI. Despite these positive momentum, the price is still in a narrow sideways range, having failed to break through the key resistance level of 67.50, affected by the negative technical pattern (rising wedge pattern) formed in the short term, which strengthens the bearish trend scenario.

Forecast for Gold Price: XAU/USD fails to surpass $1,930 as USD Index recovers ahead of Fed policy

Alina Haynes

Feb 01, 2023 15:27

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During the Asian session, the gold price (XAU/USD) failed to reclaim the crucial barrier of $1,930.00, prompting a strong price correction. The precious metal's upward momentum has diminished as the US Dollar Index (DXY) shows signs of recovery after falling to around 101.70. The USD Index is gaining traction as investors become nervous ahead of the Federal Reserve's interest rate announcement (Fed).

 

As Fed chair Jerome Powell is anticipated to significantly slow the pace of interest rate hikes, the Gold price correction appears to be moderate. In the meantime, S&P500 futures have retraced some of Tuesday's gains as investors anticipate that additional Fed rate hikes will heighten recession fears in the United States. Yields on 10-year US Treasuries have fallen below 3.52 percent.

 

In addition to the Fed's monetary policy, the ADP Employment data and ISM Manufacturing PMI will be of the utmost importance. According to the consensus, the US economy added 170,000 new jobs in January, down from the previous estimate of 235,000. While it is anticipated that the Manufacturing PMI will decrease to 48.0 from 48.4, which was announced earlier,

 

For a longer horizon, Reuters reported that the Fed's decision to raise interest rates would limit the price of gold. According to a survey by Reuters, the average price of gold will be $1,852.50 in 2023 and $1,880 in 2024.