• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Nour News: A spokesperson for the Iranian Foreign Ministry stated that they have received feedback from the United States and are currently reviewing it.According to Japans Kyodo News, data released by the Japanese government on Thursday showed that Japans crude oil imports from the Middle East fell 67.2% year-on-year in April, marking the lowest level since comparable data became available in 1979.On May 21st, Tesla officially announced its latest plans for a supervised version of Full Self-Driving (FSD), mentioning that this version can be used in China. Recently, Tesla China posted several job openings related to autonomous driving testing, sparking speculation within the industry about the accelerated rollout of FSD in the Chinese market. A reporter, posing as a consumer, contacted Teslas official customer service, who replied: "The 64,000 RMB Autopilot feature is not compatible with all vehicles; some are only compatible with the 32,000 RMB Enhanced Autopilot feature. The company is actively pursuing the approval process in accordance with relevant national regulations, and will push the approval to domestic customers as soon as possible."Futures Commentary by Everbright Futures: On May 20th, COMEX gold initially fell before rising, surging intraday to close at $4546.2 per ounce, a gain of 0.78%. Domestic SHFE gold futures opened higher and continued to rise in the night session, closing at 995.92 yuan per gram, a gain of 0.88%. 1. Geopolitically, Trump stated on Wednesday that negotiations between the US and Iran had entered the "final stage," reiterating that war would be "very rapid." Meanwhile, media reports indicated that some oil tankers had begun to re-enter the Strait of Hormuz. According to reports, the Iranian Islamic Revolutionary Guard Corps Navy stated on Wednesday that 26 ships, including oil tankers, container ships, and other merchant vessels, had passed through the Strait of Hormuz in the past 24 hours, coordinated with Iran. Influenced by this news, the US dollar and US Treasury yields fell slightly, providing support for gold. However, given the relatively volatile geopolitical news, the impact of further developments on gold prices should be closely monitored. 2. The minutes of the Federal Reserves April policy meeting, released yesterday, showed that participants generally believed that given persistently high inflation data and the uncertainty surrounding the duration of the Middle East conflict and its economic impact, the period of remaining on hold might exceed previous expectations. If the US-Iran conflict keeps inflation high, a rate hike might indeed be necessary. However, since previous expectations for a rate hike had already been partially priced in, the impact on gold prices was limited. Looking ahead, the assessment of the US-Iran conflict remains the dominant factor for gold. Until these uncertainties are effectively resolved, investors should lower their expectations for gold prices in the first half of the year.According to Nippon Television News, Japan is considering proposing a supplementary budget of approximately 3 trillion yen.

Silver Price Analysis: XAG / USD reverses from a six-week-old resistance level toward $22.00

Daniel Rogers

Mar 20, 2023 13:19

 截屏2022-06-06 下午5.54.42.png

 

As the Fed week gets underway, the silver price (XAG / USD) accepts offers to renew intraday lows near $22.40, reversing from the greatest levels since early February.

 

In doing so, the brilliant metal reverses from the horizontal area consisting of multiple peaks marked since February 3 at approximately $22.60.

 

Notably, the overbought conditions of the RSI (14) aid the XAG/USD in trimming recent gains near the multi-day high.

 

However, optimistic Silver purchasers are buoyed by bullish MACD signals and the metal's sustained trading above critical support levels.

 

A one-week-old ascending trend line near $21.90 and the 200-bar Exponential Moving Average (EMA) near $21.65 provide immediate crucial support.

 

The early-month swing high near $21.30 and the $21.00 round figure can act as additional downside filters for XAG/USD bears before targeting the monthly low of $19.90.

 

In the meantime, the Silver price rise above the aforementioned resistance line near $22.60 requires confirmation from the 61.8% Fibonacci retracement level of the metal's February-March decline, which is located close to $22.85.

 

After that, a rise to the Year-To-Date (YTD) high around $24.65 cannot be ruled out.

 

Silver prices are expected to decline overall, but the bears have a long way to go before regaining control.