EUR/USD 1.17934
0.094%
Gold 4974.72
-0.028%
Oil 65.121
0.348%
USD/JPY 154.975
0.099%
GBP/USD 1.34944
0.019%
GBP/JPY 209.134
0.126%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Reserve Bank of New Zealand Assistant Governor Silk: Maintaining an accommodative policy for some time is in line with reality.Sources say Germany is considering purchasing more F-35 fighter jets from the United States.February 19 (KCNA) – A ceremony was held in Pyongyang on February 18 to present 600mm large-caliber rocket launchers to the 9th Congress of the Workers Party of Korea, according to a report by the Korean Central News Agency (KCNA). Kim Jong Un, General Secretary of the Workers Party of Korea and Chairman of the State Affairs Commission, attended the event. The report stated that the ceremony took place at the April 25th Cultural Hall Square in Pyongyang, where the military industry donated 50 newly produced 600mm large-caliber rocket launchers. Kim Jong Un inspected the launchers in a vehicle. At the ceremony, Kim Jong Un said that the 600mm large-caliber rocket launchers would enhance North Koreas war deterrence capabilities and enable the country to achieve its strategic objectives, making them a weapon to be proud of. He also said that the 9th Congress of the Workers Party of Korea would clarify the next stage of the North Korean self-defense force development plan and objectives.As of 09:32 Beijing time, WTI crude oil futures rose 0.05%, and US natural gas futures rose 2.13%.February 19th - On February 18th local time, several EU countries, including France, Belgium, Spain, Ireland, Slovenia, and Portugal, expressed strong dissatisfaction with the European Commissions decision to send representatives to the so-called "Peace Commission" meeting. The European Commission decided on the 16th to send Mediterranean Commissioner Dubravka Sjuica to the first formal meeting of the so-called "Peace Commission," scheduled for the 19th in Washington. Many EU countries pointed out that this decision was made without prior notification, lacked necessary authorization, and could potentially be interpreted as a collective endorsement of the meeting by the EU.

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