EUR/USD 1.14277
-0.001%
Gold 4140.67
-1.208%
Oil 73.429
-0.640%
USD/JPY 161.548
-0.017%
GBP/USD 1.32432
-0.040%
GBP/JPY 213.946
-0.050%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Malaysias Trade Minister: Malaysia faces a potential 10% tariff risk after July 24 due to allegations of forced labor.Major European and American stock index futures fell, with Nasdaq 100 futures down more than 1% and S&P 500 futures down 0.5%; Euro Stoxx 50 futures and German DAX futures fell 0.7% and UK FTSE futures fell 0.8%.On June 23, TA Securities analyst Shazma Juliana Abu Bakar stated in a report that the recent diesel subsidy reform in Malaysia is likely to have a negligible direct impact on inflation, as most eligible diesel users will continue to receive subsidized fuel, and logistics operators will also be protected. From July 1st, Malaysia will set diesel prices nationwide at market rates, allowing eligible citizens to purchase subsidized diesel at RM2.10 per liter. The analyst expects transportation costs and broader price pressures to remain manageable, noting that diesel accounts for only 0.2% of the Consumer Price Index (CPI). She added that the reform should help maintain household purchasing power, but its impact on overall consumption may be limited due to the relatively small beneficiary group. TA Securities maintains its 2026 inflation forecast for Malaysia at 2.1%-2.6% and GDP growth forecast at 4.3%-4.7%.Alibabas Hong Kong-listed shares (09988.HK) fell below HK$100, hitting a new low since April 2025, and are currently down more than 3%.The Hang Seng Tech Index fell by more than 2%, with MINIMAX-W (00100.HK) falling by more than 12% and Zhipu (02513.HK) falling by more than 9%.

Forecast for the Gold Price: XAU/USD moves up above $1,850 as yields fall following FOMC minutes

Daniel Rogers

Jan 05, 2023 15:01

 48.png

 

In the late New York session, the gold price (XAU/USD) has attracted buying activity following a corrective move to approach the critical support of $1,850. After failing to sustain above $1,860.00, the precious metal declined; however, the corrective move is light and does not indicate a serious reversal.

 

After a decline in the U.S. Manufacturing PMI bolstered indications of further deceleration in the U.S. Consumer Price Index, market participants' demand for risk-perceived assets such as the S&P 500 increased (CPI). In response to a decrease in product demand, corporations may be compelled to reduce the price of factory items.

 

The US Dollar Index (DXY) fell below the 104.00 level as yields on 10-year US Treasuries were subjected to intense pressure and plummeted to roughly 3.69 percent. Safe-haven assets are under pressure due to the anticipation of a further fall in inflationary pressures. After remaining aggressive throughout the entire year, Federal Reserve (Fed) head Jerome Powell changed to a slowing scenario in December regarding an interest rate hike. Undoubtedly, the inflation rate is still a significant distance from the 2% target; yet, the presence of factors that support a further deceleration in the price index weighs on safe-haven assets.

Suggestion