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India’s electricity generation fell 7.6% year-on-year in October, while key industrial output remained flat year-on-year.UBS Global Wealth Management: Looking ahead to 2026, it forecasts US GDP growth of 1.7%.On November 20th, the German central bank stated in its monthly report released Thursday that the German economy is likely to experience moderate growth in the final quarter of this year, primarily driven by expansion in the service sector, while its weak industrial sector is stabilizing. The German economy, Europes largest, experienced zero growth in the last quarter, having stagnated for most of the past three years. Industry suffered a deep recession, while households relied on savings to rebuild wealth damaged by rapid inflation. Furthermore, the German central bank noted that industry has lost significant competitiveness due to high costs and can only benefit to a limited extent from the global economic recovery; US tariffs could also put pressure on demand.UBS Global Wealth Management: Looking ahead to 2026, UBS Group prefers the euro and the Australian dollar over the US dollar.On November 20th, Luk Fook Holdings Limited (00590.HK) announced that it expects revenue for the six months ended September 30, 2025 to increase by approximately 20% to 30% compared to the same period last year, primarily due to effective product differentiation and sales strategies that successfully drove a significant increase in sales of priced jewelry products. Furthermore, it expects profit for the period to increase by approximately 40% to 50% compared to the same period last year, mainly benefiting from rising gold prices, an increased sales proportion of priced jewelry products, and improved profit margins driven by operating leverage.

Gold Price Prediction: XAU / USD corrects to around $1,910 despite intensifying concerns of a global banking crisis

Alina Haynes

Mar 16, 2023 14:00

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After reaching a new six-week high at $1,937.39, the gold price (XAU/USD) displayed a corrective move during the Asian session. As gold's allure is extremely strong amid growing concerns about the global banking crisis, a correction in the precious metal appears to be short-lived. Credit Suisse's debacle following the failure of Silicon Valley Bank (SVB) has triggered the risk of global financial instability, and uncertainty over the Federal Reserve's (Fed) upcoming interest rate decision has bolstered the case for the Gold price.

 

S&P500 futures have shown a recovery move following Wednesday's sell-off as investors assess the banking sector's uncertainty. However, the motif of risk aversion has not yet completely subsided.

 

During the Asian session, the US Dollar Index (DXY) is fluctuating in a narrow range of around 104.60. It appears that the impact of banking sector turmoil is maturing for the USD Index, and investors are beginning to discount expectations for next week's monetary policy. According to the CME FedWatch instrument, the probability that Fed chair Jerome Powell will raise interest rates by 25 basis points (bps) has risen above 70%. While 30% of the probabilities support maintaining the current interest rate policy.

 

Increasing odds of a status quo monetary policy are supported by a declining Consumer Price Index (CPI), a rising Unemployment Rate, sluggish Retail Sales, and a declining Producer Price Index (PPI).


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