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December 21 – According to sources, another oil tanker has been seized by the United States in waters near Venezuela as President Trump intensifies his oil blockade against the government of Venezuelan President Maduro. The seized tanker, the "Bella 1," is a Panamanian-flagged vessel under U.S. sanctions and was en route to Venezuela to load cargo. This interception follows the seizure of the "Century" supertanker early Saturday morning and the seizure of the "Skipper" tanker on December 10. The White House did not immediately respond to a request for comment.On December 21, local time, the Israel Defense Forces (IDF) issued a statement saying that during operations in northern Gaza that day, several suspicious individuals were spotted gathering near the Yellow Line, the ceasefire line. IDF fired warning shots, but three armed men crossed the Yellow Line and approached IDF forces, posing a "direct threat." IDF airstrikes subsequently killed them. The statement also noted that in two other separate incidents in northern Gaza, IDF forces also discovered two armed men crossing the Yellow Line and approaching soldiers. IDF airstrikes subsequently killed them.On December 21, the French presidential palace stated that it would determine the "best way" for French President Macron to hold dialogue with Russian President Putin "in the coming days." The French presidential palace welcomed Russias statement that Putin was willing to engage in dialogue with Macron, and that France believed the aim of such dialogue was to achieve a "stable and lasting peace," and that the content would be "transparent" to Ukraine and Europe.December 21 - According to a report released by the Indonesian Meteorology, Climatology and Geophysics Agency, a 5.6-magnitude earthquake struck off the coast of North Maluku province, Indonesia, at 19:21 local time on December 21. The epicenter was located at 1.47 degrees north latitude and 126.34 degrees east longitude, with a focal depth of 27 kilometers.December 21 - On December 21, MiniMax, a general artificial intelligence company, published its post-hearing information set prospectus for the first time.

Gold Price Prediction: XAU/USD extends advances after attracting bids near $1,650; yields target 4%

Alina Haynes

Oct 26, 2022 15:06

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The gold price (XAU/USD) has extended its advances to around $1,657.50 after a more robust recovery from $1,650.00, the key support level. Thursday's announcement of US Gross Domestic Product (GDP) data is anticipated to keep investors on the edge of their seats about the precious metal.

 

The risk profile exhibits conflicting responses as S&P500 futures seek a rebound following a large decline in Tokyo. The failure of the US dollar index (DXY) to sustain above the round-level resistance of 111.00 implies a drop in the appeal of safe-haven assets.

 

As investors have abandoned the risk-aversion thesis, the alpha generated by US Treasuries is seeking greater downside. The yields on 10-year US Treasuries have fallen below 4.10 percent, and the present downward momentum could weigh on future pressure.

 

On Thursday, the announcement of US GDP statistics is anticipated to cause extreme price volatility in gold. According to preliminary estimates, the US growth rate for the third quarter of CY 2022 is 2.4%, up from a previously reported negative rate of 0.6%.

 

After falling below the horizontal support established by Thursday's high of $1,640.55, gold prices have rebounded strongly on an hourly scale. The downward-sloping trendline drawn from the high of October 13 at $1,682.53 will act as significant resistance for gold prices going forward.

 

As the Relative Strength Index (RSI) (14) has moved into the 40.00-60.00 zone, a sideways trend is anticipated for the precious metal in the future. Near $1,651.50, the 20-period Exponential Moving Average (EMA) is providing significant support for the currency.


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