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On May 16th, Berkshire Hathaway released its first-quarter holdings report (13F). Berkshire increased its holdings in Alphabet (GOOGL.O), The New York Times, and other stocks in the first quarter. Alphabet saw an increase of over 36 million shares, raising its stake from 2.04% to 5.93%. It completely sold off its holdings in Amazon (AMZN.O), Visa (VN), Mastercard (MA.N), and UnitedHealth Group (UNH.N). It reduced its holdings in Chevron (CVX.N) and Bank of America (BAC.N). It established a position in Delta Air Lines (DAL.N), purchasing 39.8 million shares, with a market value of approximately $2.65 billion. Its holding in Apple (AAPL.O) remained unchanged, ending three consecutive quarters of reductions; Apple remains its largest holding. Overall, Berkshires holdings in US stocks were valued at $26.3 billion as of the first quarter, compared to $27.4 billion in the previous quarter. During the quarter, the company bought approximately $16 billion worth of stocks and sold approximately $24 billion worth, resulting in a net sale of approximately $8.15 billion. The number of stocks held plummeted from 42 to 29, indicating a significant increase in market concentration.On May 16th, Bridgewater Associates, the worlds largest hedge fund, released its Q1 2023 13F report on its US stock holdings as of the end of March. The report shows that Bridgewater established new positions in 214 stocks, increased its holdings in 292 stocks, liquidated 261 stocks, and reduced its holdings in 487 stocks during the first quarter. Bridgewater significantly increased its holdings in chip stocks such as Nvidia (NVDA.O), Broadcom (AVGO.O), and Micron Technology (MU.O) during the first quarter, while liquidating its holdings in enterprise software stocks such as Salesforce (CRM.N) and ServiceNow (NOW.N), and reducing its holdings in Adobe (ADBE.O). As of the end of Q1, Bridgewaters US stock holdings were valued at $22.4 billion, compared to $27.4 billion in the previous quarter. Specifically, Bridgewater increased its holdings in Nvidia by 827,800 shares, raising its stake from 2.63% at the end of last year to 3.65%; it increased its holdings in Broadcom by 670,000 shares, raising its stake from 1.47% to 2.54%; and it increased its holdings in Micron Technology by 586,000 shares, raising its stake from 0.93% to 2.23%. In addition, Bridgewater initiated its first position in TSMC with 1.077 million shares, which accounted for 1.62% of its portfolio as of the end of the first quarter.On May 16, US President Trump posted on social media that the US military and the Nigerian armed forces carried out a joint operation that evening to "eliminate" Abu Bilal Minuki, the number two leader of the extremist group "Islamic State".US President Trump: Abu-Bilal al-Minuki, the second-in-command of the Islamic State extremist group, has been eliminated. The operation was carried out jointly by the US military and the Nigerian armed forces.According to the official measurement of the China Earthquake Networks Center, a magnitude 2.3 earthquake occurred at 11:12 on May 16 in Weichang County, Chengde City, Hebei Province (42.40 degrees north latitude, 117.37 degrees east longitude), with a focal depth of 10 kilometers.

Gold Price Futures (GC) Technical Analysis: Struggling to Surpass the $1798.50-$1822.60 Retracement Zone

Daniel Rogers

Aug 08, 2022 12:01

 截屏2022-08-08 上午11.39.58.png

 

Gold futures are trading lower soon after the midpoint of Friday's session after an unexpectedly robust U.S. job market report allayed fears of a recession and dashed rumors that the Federal Reserve will abandon its aggressive monetary policy tightening.

 

At 18:05 GMT, the Comex gold price for December decreased $15.10, or 0.84 percent, to $1791.80. The SPDR Gold Shares ETF (GLD) has fallen $1.88, or 1.13 percent, to $165.29.

 

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Non-Farm Payrolls grew by 528,000 last month, which above the estimates of the Dow Jones by 258,000. Similarly, pay growth increased, with average earnings increasing 0.5% for the month and 5.2% over the previous year. The unemployment rate has dropped to a pre-pandemic low of 3.5%. The stronger-than-expected result demonstrated that the United States is probably not in a recession.

 

On the assumption that the U.S. economy was faltering, gold dealers had priced in a shift by the Fed from hawkish to slightly dovish for around a week. The economy is robust enough to withstand an additional 75 basis point rate hike at the Fed's next meeting on September 21.

 

This may be sufficient to temporarily restrict gold prices, although some traders may await confirmation from Wednesday's U.S. consumer inflation report.

 

The daily swing chart indicates that the primary trend is upward. A transaction above $1812.00 will indicate a continuation of the uptrend. A breach of $1727.00 will reverse the tendency to decline. Even the modest tendency is upward. A transaction above $1770.00 will reverse the modest trend up. Consequently, momentum will turn to the negative. The intermediate price range is between $1900.80 and $1696.10. The resistance zone between $1798.50 and $1822.60 is its retracement zone. It ended the rally at $1812.00 on Thursday.

 

The range for the first minor is $1770.00 to $1812.00. Its pivot point at $1791.00 represents the initial downward objective. The range for the second minor is $1727.00 to $1812.00. The pivot point is the next negative target at $1769.50. The third pivot price objective is $1754.10

 

The direction of the December gold futures contract on the Comex will likely be dictated by trader reaction to a pair of 50 percent levels located at $1798.50 and $1791.00 as of Friday's closing bell. Expect the upward bias to persist on a persistent rise over $1798.50, and the negative bias to emerge on a sustained decline below $1791.00.