EUR/USD 1.17917
0.059%
Gold 5229.98
0.032%
Oil 66.178
-0.077%
USD/JPY 154.750
0.056%
GBP/USD 1.34955
0.038%
GBP/JPY 208.847
0.101%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On February 24, the Liaoning Provincial Peoples Government issued the "Several Policy Measures of Liaoning Province to Promote New and Positive Economic Development," which proposes to provide interest subsidies of 1.5% of the loan principal annualized interest rate for projects such as low-altitude aircraft, key low-altitude equipment and core components, key materials research and development and manufacturing, and operation service capacity building. The maximum annual interest subsidy for a single project is 1 million yuan, and the maximum annual interest subsidy for a single enterprise is 5 million yuan.According to CBS: Trump is unhappy with the limited military options against Iran, and advisors have warned that any strike could be ineffective and could lead to a larger conflict.On February 24th, IBM (IBM.N) shares plunged on Monday after AI startup Anthropic announced that its Claude Code tool could help modernize COBOL, an outdated programming language that primarily runs on IBM computers. IBM (IBM.N) shares fell as much as 13%, marking its biggest single-day drop since March 2020. Data compiled by institutions shows that, as a result, the stock fell 26% in February, on track for its largest monthly decline since at least 1968.February 24th - Supported by strong semiconductor shipments and a vibrant domestic stock market, South Koreas consumer confidence index climbed to its highest level since November in February. Data released by the Bank of Korea showed that the composite consumer confidence index rose to 112.1 in February, the highest level since November last year, and well above the neutral threshold of 100.FedEx (FDX.N) is suing the U.S. government, demanding a full refund of emergency tariffs.

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.

 

 image.png


Suggestion