EUR/USD 1.16444
-0.064%
Gold 3960.80
0.205%
Oil 59.872
-0.237%
USD/JPY 151.931
-0.114%
GBP/USD 1.32602
-0.077%
GBP/JPY 201.467
-0.175%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On October 29th, the Tianyancha App showed that Xiaomi Automobile Technology Co., Ltd. was recently approved to register the software copyright for "AI Xiaosu - Smart Intelligent Body Assistant System" with version number V1.0. The company was established in November 2021, with Lei Jun as the legal representative, and registered capital of 1 billion RMB. Its business scope includes the manufacturing of new energy vehicles, the technical research and development of complete vehicles and parts, and the research and development of motors and their control systems. It is wholly owned by Xiaomi Technology Co., Ltd.According to futures market news on October 29th, as of the week ending October 25th, Japanese commercial crude oil inventories decreased by 377,644 kiloliters from the previous week to 10,027,202 kiloliters. Japanese gasoline inventories decreased by 16,721 kiloliters from the previous week to 1,603,954 kiloliters. Japanese kerosene inventories decreased by 91,715 kiloliters from the previous week to 2,742,806 kiloliters. The average operating rate of Japanese refineries was 91.2%, compared to 86.2% the previous week.On October 29, the overnight shibor was 1.4140%, down 5.50 basis points; the 7-day shibor was 1.5120%, down 1.80 basis points; the 14-day shibor was 1.5590%, down 8.80 basis points; the January shibor was 1.5560%, down 0.10 basis points; the March shibor was 1.5990%, the same as the previous trading day.Japanese Defense Minister Shinjiro Koizumi: Agreed to work with U.S. Defense Secretary Hergsays to steadily implement the relocation of the Futenma Air Station in Okinawa.Japanese Defense Minister Shinjiro Koizumi: Agreed to further promote joint maintenance of ships and aircraft with U.S. Defense Secretary Hergsays.

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