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On January 17, SpaceX said that the starship experienced a rapid unplanned disintegration during the launch burn. The team will continue to review the data from todays flight test to better understand the root cause. This flight test will help us improve the reliability of the starship.Futures News on January 17, according to the latest data from the U.S. Commodity Futures Trading Commission (CFTC), as of January 10, ① there were 47,356 unpriced sell orders for U.S. cotton on-call, a decrease of 1,694 lots from the previous month; there were 85,069 unpriced buy orders, an increase of 1,514 lots from the previous month; ② there were 14,122 unpriced contracts on the ICE Cotton 2503 contract, a decrease of 2,245 lots from the previous week; ③ there were 11,738 unpriced contracts on the ICE Cotton 2505 contract, an increase of 121 lots from the previous week; ④ there were 13,032 unpriced contracts on the ICE Cotton 2507 contract, a decrease of 305 lots from the previous week; ⑤ there were 0 unpriced contracts on the ICE Cotton 2510 contract, the same as the previous week; ⑥ there were 5,234 unpriced contracts on the ICE Cotton 2512 contract, an increase of 458 lots from the previous week.On January 17, SpaceXs new generation heavy-lift rocket "Starship" was launched from Texas, the United States on the 16th, carrying out its seventh test flight. Shortly after the launch, the second-stage spacecraft of the rocket lost contact with the ground team. The live broadcast of SpaceX showed that after the launch, the first-stage booster of the rocket was once again recovered from the launch tower. When landing, it was "clamped" by the mechanical arm on the launch tower and "captured" and recovered in mid-air. However, the second-stage spacecraft of the rocket subsequently lost contact with the ground team, and the live broadcast of the spacecraft was interrupted.SpaceX lost contact with Starship.SpaceX Starship conducted its seventh test flight and ignited and launched.

Forecast for Gold Price: XAU/USD sellers near $1,955 confluence as yields recover amid banking and growth concerns

Alina Haynes

Mar 27, 2023 14:38

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Gold price (XAU/USD) falls $1,970 over the course of a two-day losing trend preceding Monday's European session. In doing so, the precious metal justifies the most recent revival in US Treasury bond yields and the US Dollar, while extending yesterday's U-turn from the key resistance zone.

 

As First Citizens bank agrees to purchase a sizable portion of Silicon Valley Bank, dwindling banking jitters may also be a factor. (SVB). In recent days, the XAU/USD has been weighed down by hawkish Fed comments, the pace of China's growth, one of the world's largest Gold consumers, as well as primarily US data.

 

Kristalina Georgieva, the head of the International Monetary Fund (IMF), cautioned that "risks to financial stability have increased," prompting an investigation into Gold sellers. On the same vein, Minneapolis Fed President Neel Kashkari voiced concerns about an impending US recession.

 

US Dollar Index (DXY) prints a three-day uptrend near 103.12 as traders prepare for important inflation data on Friday, specifically the US Core Personal Consumption Expenditure (PCE) Price Index for February.

 

In spite of this, 10-year US Treasury bond yields increased by two basis points to 3.40 percent, while their two-year counterpart ended a three-day losing trend close to 3.85 percent as of press time.

 

Moving forward, the Gold price remains on the bears' radar due to the failure of traders to overcome the critical resistance and the month-end consolidation. However, Friday's release of the Fed's favored inflation gauge becomes crucial for XAU/USD traders seeking direction.


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