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On June 12, the commander of the Hatem Anbia Central Headquarters of the Iranian Armed Forces stated that the United States, while talking about agreements and negotiations, is simultaneously taking malicious actions with ulterior motives. This blatant contradiction between US words and deeds is the root cause of instability in the region, jeopardizing trade security, the international economy, and the security of all nations, especially the Strait of Hormuz. We warn that if the United States attempts to attack Iran again, it will face a much harsher response than before, the conflict will become more widespread and escalate, and the region will descend into insecurity. In light of the recent US threats to strike Iranian oil infrastructure, we hereby declare: oil and gas exports are either open to everyone or closed to everyone.Spokesperson for the UN Secretary-General: UN Secretary-General António Guterres is deeply concerned about the escalating situation in the Middle East, including the US strikes against Iran and Irans retaliatory strikes.June 12 – Siemens Energy, one of the worlds three largest gas turbine manufacturers, stated that competition in Europe for power supplies for data centers and electrification projects is becoming so fierce that customers are now willing to pay fees to secure a place in the gas turbine production queue. CEO Christian Bruch said, "Demand is now so high that European customers are willing to pay reservation fees." This practice first appeared in the US in recent years when technology companies raced to lock in power generation capacity for energy-intensive data centers, and has since expanded to Europe and the Middle East. Due to the long wait times for European data centers to connect to the grid, some are considering building their own power generation facilities to get them operational faster. Karim Amin, head of Siemens Energys Gas Services division, said that customers seeking to reserve approximately six months of manufacturing time typically pay 10% to 15% of the purchase price of a turbine. Since gas turbine manufacturers capacity is largely booked until the end of this decade, this type of payment has become a way for buyers with urgent project needs to secure their place in the queue. Siemens Energys conversion rate exceeds 90%, meaning that most reservations eventually translate into contracts.A spokesman for Irans Islamic Revolutionary Guard Corps said: "If the United States wants to repeat its past failures, it will regret it."New York Fed: U.S. household net worth increased by $113.08 billion in the first quarter.

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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