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On October 5th, local time, Russian President Vladimir Putin stated on a Russian media program that if the United States provides Ukraine with long-range and precision strike weapons and equipment, including Tomahawk missiles, it will destroy the positive momentum that has emerged in Russian-US relations. When asked whether he expects European leaders to pay attention to the signals he recently sent at the annual meeting of the Valdai International Discussion Club, Putin also stated that he never aims to please others, but only states the facts truthfully, and that subsequent developments depend on the positions of those he addresses.On October 5th, local time, Iranian Foreign Minister Araghchi announced that the Cairo Agreement can no longer serve as the basis for Irans cooperation with the International Atomic Energy Agency (IAEA), and that Iran will announce new cooperation arrangements with the agency. Araghchi said, "New decisions must be made under the current circumstances. In my opinion, the Cairo Agreement is no longer applicable to the status quo." Araghchi emphasized that practice has proven that there is no alternative to diplomacy and negotiation in addressing Irans nuclear program.On October 5th, OPEC+ representatives stated that the group was close to reaching a principle agreement on another small production increase in November, continuing its efforts to regain market share in the global oil market. Delegates revealed ahead of a Sunday video conference that major member countries were expected to approve a production increase of 137,000 barrels per day, the same as the planned increase this month. Oil prices traded near a four-year low on Friday, a reminder that OPEC and its allies must strike a careful balance when restoring previously suspended production to an oversupplied market.Sources said that before the meeting, OPEC+ countries had reached an agreement in principle to increase oil production by 137,000 barrels per day in November.Russian Ministry of Defense: Russian forces launched a large-scale attack on Ukraines military industry and gas and energy infrastructure.

Gold Prices Depreciate When Treasury Yields Increase

Larissa Barlow

Apr 22, 2022 10:04

On Thursday, gold prices fell as the currency gained strength. Treasury rates have continued to rise in the aftermath of a strong jobless claims data. The yield differential widened in favor of the Euro and the Yen, exerting downward pressure on the dollar. For April, the Philadelphia Fed reported a weaker-than-expected reading of 17.6, compared to forecasts of around the trailing year-to-date average of 21.

 

Initial Jobless Claims were 184,000 for the week ending April 16, down 2,000 from the previous week but well ahead of expectations of 182,000. Continuing claims, which are released one week after the headline figure, decreased by 58,000 to 1.417 million, the lowest level since February 21, 1970. 

Technical Evaluation

On Thursday, gold prices fell. Prices were unable to break through resistance near the 1,958-day moving average. At 1,933, support is located near the 50-day moving average.

 

Momentum has shifted negative in the short term as the Fast Stochastic generated a crossover sell signal. Both the RSI and the Fast Stochastic are in the neutral zone, indicating that the gold price has been consolidating.

 

The MACD has generated a crossover sell signal, indicating that the medium-term momentum has become negative. As the MACD line crosses below the MACD signal line, this occurs. The MACD (moving average convergence divergence) histogram exhibits a downward trend, indicating decreasing prices and accelerating downward momentum.

 

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