EUR/USD 1.17869
0.127%
Gold 5186.26
0.838%
Oil 66.215
0.288%
USD/JPY 155.926
0.018%
GBP/USD 1.35099
0.160%
GBP/JPY 210.657
0.189%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On February 25th, Hong Kong Financial Secretary Paul Chan Mo-po delivered a new Budget Address, stating that the global political and economic environment is complex and volatile. The US-initiated tariff war early last year, leading to a sharp escalation of global trade frictions. However, with the US reaching preliminary trade agreements with several economies and reaching consensus with China on key economic and trade issues, trade tensions have eased, allowing the global economy to continue expanding. Chan also noted the strong performance of the stock market, with the Hang Seng Index rising 28% for the year and average daily turnover increasing by 90% to nearly HK$250 billion, a record high. New share listings raised more than tripled compared to 2024, exceeding HK$280 billion, ranking first globally.Hong Kongs GDP growth rate for the full year of 2025 is 3.5%, compared to 3.50% previously.US President Trump: Democrats are responsible for open borders, illegal immigration, and record inflation.Market news: US President Trump claimed that tariffs have played a role in maintaining peace and stated that he has used the threat of tariffs to resolve many wars.On February 25th, US President Trump stated that tariff policies will continue, noting that tariffs will replace income taxes and that Congress does not need to take action on tariffs. Trump expressed regret over the Supreme Courts ruling, noting that almost all countries and partner organizations want to maintain the existing tariff agreements. He praised the passage of the "Big and Beautiful" bill, which exempts tips, overtime pay, and Social Security from taxation. He criticized Democrats for voting against large-scale tax cuts and supporting substantial tax increases. Furthermore, Trump stated that he is dealing with heavy healthcare costs and hopes to stop paying all contributions to large insurance companies.

Gold Price Forecast — Gold Prices Held Steady Despite Risk-Averse Market Sentiment

Alina Haynes

May 19, 2022 10:43

Despite the decrease in yields, gold prices remained relatively unchanged. The dollar rises to levels not seen in two decades as investors put dollar-bearing wagers. As investors flocked into bonds in response to the sell-off in equities, benchmark rates lost ground.

 

The Dow Jones and Nasdaq had significant daily drops as inflation fears increased in response to earnings announcements. Today, the yield on ten-year bonds fell by 9 basis points.

 

In April, residential dwelling starts decreased by 0.2% due to higher mortgage rates. The 30-year loan rate rose to 5.3% last week, up from 2.94 percent a year ago. Inflationary spirals and high material costs have weighed on the housing market.

 

Harker, president of the Philadelphia Fed, predicted that the Fed will implement two 50-basis-point rate hikes in June and July during FOMC meetings.

Technical Evaluation

In light of expected Fed rate hikes, gold prices will stay range-bound. Gold prices are experiencing downward momentum approaching the 1,800 level and are going toward $1780, which was near the trading session's low.

 

Near the 16 May lows near 1788 is viewed as support. The prior support level around the 200-day moving average of 1,838 represents resistance.

 

Short-term momentum becomes negative as the Fast Stochastic may imply a sell crossover. As the fast stochastic displays a value of 22.22 below the oversold threshold of 20, prices remain oversold.

 

As the MACD produces a crossover sell signal, medium-term momentum has gone negative. This occurs when the 12-day moving average minus the 26-day moving average crosses below the MACD line's 9-day moving average.

 

The trajectory of the MACD (moving average convergence divergence) histogram is negative, indicating falling prices.

  

image.png

Suggestion