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Freddie Mac: Outstanding principal in its mortgage-related portfolio increased by approximately $5.3 billion in October. Mortgage-related securities and other mortgage-related guarantees grew at an annualized rate of 3.8%. The total mortgage portfolio grew at an annualized rate of 4.2% in October.Dell (DELL.N) Chief Operating Officer: Despite mitigation measures, rising costs will still be passed on to customers.Dell (DELL.N) Chief Operating Officer: The unprecedented rapid rise in costs is not only affecting DRAM, but also NAND, hard drives and cutting-edge semiconductor nodes.Freddie Mac: The delinquency rate for single-family homes fell to 0.56% in October from 0.57% in September, while the delinquency rate for multi-family homes fell to 0.48% in October from 0.51% in September.On November 26th, former Bank of Japan board member Kazuo Monma stated in an interview that the recent weakening of the yen is increasing the likelihood of the Bank of Japan raising its benchmark interest rate next month. He said, "Unless there is significant negative news and the yen remains at its current level, the probability of a rate hike in December is quite high. There is really no need to wait for stronger signals from wages, prices, or economic indicators." Monma added, "The weak yen is the biggest enemy of the governments measures to combat rising prices. Prime Minister Sanae Takaichis high approval rating stems from public expectations of her addressing the cost of living issue, so the effectiveness of her measures is crucial to her governance. If the yen becomes an obstacle, she is likely to feel the need to curb its decline." However, Monma also indicated that he does not rule out the possibility that the central bank will wait until January next year to act, at which time it will have more data to confirm the momentum of wage increases next year and the resilience of the US economy.

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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