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February 2nd - U.S. natural gas futures prices plummeted, erasing Fridays gains, as recent weather forecasts indicated milder temperatures. In early Asian trading, the near-month contract fell as much as 17% to $3.620 per million British thermal units (MMBtu). This followed an 11% gain on Friday due to record-breaking cold weather. While the southern United States is experiencing severe cold snaps and prompting energy conservation measures, temperatures are expected to rise by mid-February. The National Oceanic and Atmospheric Administration (NOAA) forecasts that temperatures across most of the country will be above average for this time of year. This could reduce demand for natural gas used for heating and power generation.Commodity-related LOFs weakened across the board, with multiple funds such as Commodity LOF, Guotou Resources LOF, Resources LOF, and Southern Crude Oil LOF hitting their daily limit down. Guotai Commodity LOF fell by more than 8%, Harvest Crude Oil LOF and Huabao Oil & Gas LOF both fell by more than 7%, and E Fund Crude Oil LOF fell by more than 5%.February 2nd - Beijings secondary housing market had a stable start to 2026. In January, Beijings secondary housing transaction volume reached 15,082 units, maintaining a level above 14,000 units for three consecutive months, consolidating the markets stabilization trend. Market performance shows that the release of demand for school enrollment has shifted buyer sentiment in some areas, with previously hesitant buyers accelerating their entry into the market. In these areas, monthly transaction volume has remained between 60 and 70 units for three consecutive months. Meanwhile, in areas where transactions are mainly driven by first-time homebuyers, the supply of high-value first-time homebuyers has decreased, leading to a rebound in transactions of upgrade homes. Guo Yi, chief analyst at Heshuo Institution, stated that from the demand side, market transactions have remained stable at around 15,000 units for three consecutive months. In January 2026, transactions in first-tier cities even exceeded 4,000 units for three consecutive weeks, indicating that the transaction volume is expected to remain high during the "mini-boom" in the housing market, and the market will stabilize.Euro Stoxx 50 futures and DAX futures fell 0.6%, while FTSE futures fell 0.2%.Hong Kong stocks opened lower, with the Hang Seng Index down 1.06% and the Hang Seng Tech Index down 1.29%. Gold stocks led the decline, with China Gold International (02099.HK) falling more than 12%. New energy vehicle stocks also weakened, with XPeng Motors (09868.HK) falling more than 5%.

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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