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On August 23, according to the Wall Street Journal, Russian military officers flew from St. Petersburg to the Kaliningrad exclave last month. Western intelligence officials said these officers oversaw mobilization preparations and procedures for the regions residents, including specific details on how to house, supply, and arm mobilization personnel. Intelligence officials stated that the planning exercises in Kaliningrad were just one of many nationwide drills designed to prepare for a "call to arms." Officials said the Kremlin has not yet decided whether to actually carry out such an operation, and a decision is likely to be made after the parliamentary elections at the end of September. However, despite the slow and costly progress, Putins determination to seize the entire Donbas region of eastern Ukraine may force him to take action. Kaliningrad, the location of last months mobilization test exercises, has recently received increasing attention. Western intelligence officials have warned that the exclave could play a role in Moscows military plans.August 23 – According to the Jerusalem Post and Al Mayadeen TV, a senior Iranian official stated that Iran has been invited to join the Mecca Mutual Defense Agreement established earlier this month by Saudi Arabia, Turkey, and Pakistan. The invitation has not yet been officially confirmed by the Iranian Foreign Ministry or any of the three parties to the agreement. Mehdi Rahimi, head of the Islamic Consultative Conference News Agency, stated that Iran has received an invitation to join the Mecca Agreement, and the matter is under review. Rahimi added that countries in the region are "moving in the direction of seeking a regional security umbrella," and called this a victory for Iran, as it has long been advocating for this.On August 23, Syrian Transitional Government Foreign Minister Shibani stated in an interview with Reuters on the 22nd that Syria expects to resume negotiations with Israel soon on a security agreement, hoping the agreement will facilitate Israels withdrawal from Syrian territory. Shibani said that negotiations between Syria and Israel on a security agreement have been stalled since the outbreak of the US-Israel-Iraq conflict this year, but he anticipates they will resume. The United States is pressuring Israel to return to dialogue. Shibani also stated that the Syrian Transitional Government "currently does not trust Israel," but the current priority is to stop Israeli attacks, therefore "confidence-building measures" are needed. Communication between Syria and Israel was severed after the attack on Syrias Abu Zukur airbase on August 18.August 23 - According to foreign media reports, the US Navy is testing a new air-to-air missile capable of striking targets more than 290 miles (465 kilometers) away, significantly exceeding the range of other known similar weapons. The US Navy states that the AIM-424 "Malice" missile, developed by Raytheon, a subsidiary of RTX Corporation, is roughly the same size as the currently deployed AIM-120 "Advanced Medium-Range Air-to-Air Missile" (AMRAAM). This means the missile can be fitted into the internal weapons bays of F-35 and F-22 stealth fighters. Peter Layton, a former Royal Australian Air Force officer and visiting scholar at the Griffith Asia Institute, stated that while missiles with this range could be used to strike high-value aerial targets such as command aircraft or refueling aircraft, they may be even more valuable for defending ships.On August 23, Iranian Oil Minister Mahmoud Ahmadinejad announced the discovery of a large natural gas field in southern Fars province. The field has proven reserves of over 7.5 trillion cubic feet (TCF), and with an estimated recovery rate of over 72%, approximately 5.7 trillion cubic feet are recoverable. He stated that this natural gas possesses a unique characteristic known as "sweet gas," which reduces development and extraction costs. He also revealed that in addition to this natural gas, Iran has discovered substantial condensate oil reserves, which will bring the country billions of dollars in new wealth.

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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