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On January 31st, Peter Cardillo, Chief Market Strategist at Spartan Capital Securities, stated, "I dont want to say that Warshs nomination as the new Federal Reserve Chairman was entirely unexpected. He has always been considered hawkish, but recently he seems to be converging with Trumps position, making it a bit difficult to assess how the market will accept this nomination. We just need to see if he will be influenced by the White House. My guess is that he wont; he will examine issues very carefully and maintain a certain balance on inflation and the labor market. He may not be as decisive as Powell, but he wont be too far off."On January 31, the Political Bureau of the CPC Central Committee held its 24th collective study session on the afternoon of January 30, focusing on forward-looking planning and the development of future industries. Xi Jinping, General Secretary of the CPC Central Committee, emphasized during the session that a new round of technological revolution and industrial transformation is accelerating, with cutting-edge technologies constantly emerging, leading and supporting the rapid rise of future industries. He stressed the need to approach this from a strategic perspective of building a strong nation and achieving the great rejuvenation of the Chinese nation, leveraging objective conditions and comparative advantages, adhering to the principle of seeking progress while maintaining stability and cultivating industries in a phased manner, to continuously achieve new breakthroughs in the development of my countrys future industries.On January 31, NASA announced that the Perseverance rover had successfully completed its first maneuver on the Martian surface using an AI-planned route. According to NASAs website, the demonstration mission, led by the Jet Propulsion Laboratory, took place on December 8 and 10, 2025. The mission team used generative artificial intelligence with visual understanding capabilities to analyze high-resolution images taken by the Mars Reconnaissance Orbiter (MRO) and data on terrain and slope, identifying key terrain features such as rocks, sand ripples, and boulder deposits. This generated a continuous route with multiple path nodes, helping Perseverance safely traverse complex terrain. Previously, this work was primarily done by ground engineers. Perseverance stored the AI-generated path nodes in its memory and traveled approximately 210 meters on December 8 and another 246 meters two days later.According to Interfax news agency, production at Kazakhstans Tengiz oil field has resumed.On January 31st, the Institute of Finance and Banking of the Chinese Academy of Social Sciences released its "China Macroeconomic and Financial Analysis" report for the fourth quarter of 2025, which pointed out that in 2026, my countrys economic policy orientation will shift from "strengthening unconventional counter-cyclical adjustments" to "increasing the intensity of counter-cyclical and cross-cyclical adjustments." The macroeconomic and financial analysis team of the Institute of Finance and Banking of the Chinese Academy of Social Sciences believes that in 2026, it is necessary to adhere to both policy support and reform and innovation, and to coordinate short-term macroeconomic control with medium- and long-term reform and governance. To this end, they propose three suggestions: First, fiscal and financial efforts should be coordinated to effectively unleash the potential of domestic demand; second, high-quality urban renewal should be used as a lever to stabilize investment; and third, innovative approaches to macroeconomic governance should be adopted to accelerate the repair of the balance sheets of micro-entities.

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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