EUR/USD 1.15610
0.327%
Gold 4343.88
2.439%
Oil 76.270
-1.423%
USD/JPY 157.556
-0.559%
GBP/USD 1.34972
0.326%
GBP/JPY 212.662
-0.239%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 9th, Hong Kong Chief Executive John Lee stated that the Hong Kong SAR government is working tirelessly to compile and analyze opinions, aiming to release Hong Kongs first Five-Year Plan in the third quarter of this year. On the same day, Lee led a delegation of SAR government secretaries and directors to a district consultation meeting on Hong Kongs first Five-Year Plan and the 2026 Policy Address, listening to opinions and suggestions from local residents on the plan and the Chief Executives fifth Policy Address. The consultation meeting was held at Kowloon Tong Government Primary School, with approximately 120 citizens in attendance. Lee said the SAR government has been committed to enriching the homeownership ladder, and with the development of the northern metropolitan area, more space will be provided and the living environment improved. The number of people waiting for public housing has decreased from a peak of 150,000 to approximately 100,000, a drop of one-third, reflecting the effectiveness of the SAR governments large-scale construction of public housing and subsidized housing to drive unit turnover.On August 9th, a support document titled "Using ChatGPT with Apple Smart on Mac" appeared on Apples official Mac Simplified Chinese user manual, explicitly mentioning that Apple Smart could work with Alibabas ChatGPT model. However, on August 9th, this manual was removed from Apples website, and the relevant page has now reverted to the previous version titled "Using ChatGPT with Apple Smart." On the morning of August 9th, an Apple customer service representative stated, "When we release features or new projects, Apple usually informs us in advance. However, since Apple hasnt notified us about this, it means that this feature is not yet implemented, so it will take some time to be rolled out."According to RIA Novosti, the Russian Ministry of Defense stated that Russian troops have taken control of Vasutinsk and Toretsk in eastern Ukraine.Iranian Foreign Minister Araqchi: Some intermediary countries are still working to create conditions for renegotiation. In our view, it is impossible to restart negotiations as long as the United States does not end its violations of the Islamabad Memorandum and does not make amends for them.Iranian Foreign Minister Araqchi: There will be no negotiations as long as the United States violates the interim agreement.

Gold Price Forecast: The XAU/USD pair struggles to continue its climb above $1,870, although the upside remains likely

Alina Haynes

Jan 09, 2023 12:00

134.png 

 

During the Asian session, the gold price (XAU/USD) is hovering in a narrow range around the immediate barrier of $1,870. The precious metal hopes to extend its uptrend in light of market players' increased risk appetite.

 

S&P500 futures have contributed to their gains during Friday's surge, indicating an optimistic market sentiment. The US Dollar Index (DXY) has detected resistance at 103.50 and is likely to find support near 103.00. The yields on 10-year US Treasuries have decreased to approximately 3.56 percent due to a loss in safe-haven attraction.

 

Amidst mounting prospects of a U.S. recession, the gold price is garnering considerable attention. Following a string of declines in the US ISM Manufacturing PMI, the Services PMI has also declined, indicating a decline in overall demand in the United States economy. The Services PMI dropped sharply to 49.6 compared to the predicted 55.0. In addition, the New Orders Index, a measure of future demand, plummeted to 45.2% as opposed to the anticipated 58.5%. The U.S. dollar is affected by a slowdown in economic activity and its expectations for the future.


Suggestion