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On September 2nd, at a technology event in North Carolina, Nvidia CEO Jensen Huang called on G20 members to accelerate the application of artificial intelligence to drive economic growth and urged major world economies to expand data centers and other infrastructure to support this emerging technology. Huang stated, "Every country needs to build infrastructure to support its economy." He likened the technology to water, electricity, and other utilities. He said, "Its a great equalizer." Huang added that for a country, the "worst outcome" is falling behind. He warned that this could happen if the public and policymakers allow concerns about AI to dominate discussions about the technology.The Dow Jones Industrial Average opened 230.07 points higher, or 0.44%, at 52,996.95 on Wednesday, September 2; the S&P 500 opened 3.42 points higher, or 0.04%, at 7,634.96; and the Nasdaq Composite opened 26.34 points lower, or 0.10%, at 26,073.44.September 2nd - US stocks opened with the Dow Jones Industrial Average up 0.37%, the S&P 500 up 0.09%, and the Nasdaq Composite down 0.02%. Most popular Chinese concept stocks fell, with NIO (NIO.N) down nearly 4%, Bilibili (BILI.O) down over 1%, and JD.com (JD.O), NetEase (09999.HK), and Baidu (BIDU.O) all down over 0.5%.Ford Motor Company (FN) sold 170,681 vehicles in August, up 10.3% year-over-year.On September 2, Mohsen Rezaei, Secretary of Irans Supreme National Security Council, stated that Iran has formulated new strategies in military, diplomatic, and counter-economic blockade areas, aiming to "destroy the enemys foundations." Rezaei posted on social media that no matter how much the enemy "struggles to the death," they cannot escape their current predicament. He said the enemy will soon see Irans new strategies in the military, diplomatic, and counter-economic blockade areas.

Predictions for Gold Prices — Gold prices rose as the dollar weakened

Alina Haynes

May 24, 2022 09:43

Gold prices rise as the dollar weakens to start the week. The currency experienced negative pressure on reduced growth prospects and likely march toward recession. Benchmark rates climbed as shares surged today. Today, the yield on the ten-year Treasury note rose by 3 basis points.

 

On Monday, there was little going on in the world of business. Focus continues on Fed Chair Powell’s speech tomorrow and major economic statistics including PCI and first-quarter GDP published this week. Investors are anxious about impending recession and sluggish economic growth.

Analytical Methods

Gold prices came back from session highs but are still higher and possibly be headed to the 1860s. This week's economic statistics might point to a slowdown in economic growth, which would benefit gold.

 

To begin the week, gold prices held above the 200-day moving average of $1839. Support is indicated near the 200-day moving average near 1839. Resistance is apparent at the May 12th peak of 1858.

 

The Fast Stochastic has formed a crossover buy signal, indicating that the short-term momentum is bullish. Prices are no longer oversold as the fast stochastic prints a value of 54.58, considerably above the oversold trigger level of 20.

 

Medium-term momentum turns bullish as the MACD can provide a crossover buy signal. This occurs as the 12-day moving average minus the 26-day moving average passes below the 9-day moving average of the MACD line.

 

Price declines are predicted by the MACD (moving average convergence divergence) histogram, which shows a downward trend in price.

 

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