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On January 30th, analysts stated that gold and silver prices fell due to news that Kevin Warsh would be nominated by Trump as the next Federal Reserve Chairman. An analyst from a Malaysian bank stated in a foreign exchange research and strategy report, "Warsh has long been a critic of extremely loose monetary policy and has served as a Federal Reserve governor; therefore, the market may be pricing in the potential impact of his appointment on the future policy path."On January 30th, Nomura Securities analysts CW Chung and Eon Hwang stated in a report that SK Hynixs first-quarter earnings may be stronger due to a larger-than-expected increase in memory chip prices. The analysts raised their quarterly operating profit forecast for the South Korean chipmaker from 21 trillion won to 29 trillion won. The report stated that DRAM and NAND memory product prices are expected to increase by 56% and 40% quarter-on-quarter, respectively, faster than Nomuras previous forecasts of 23% and 20%. Nomura raised its target price for SK Hynix by 42% to 1.25 million won and maintained its buy rating. SK Hynix shares recently rose 4.5% to 900,000 won.January 30th - According to Zhejiang Provincial Airport Group, during the Spring Festival travel rush, airports across the province are expected to handle 10.61 million passengers, averaging 265,000 passengers per day, representing a year-on-year increase of 5.4%, which is 2.2 percentage points higher than the national average and is expected to set a new historical record.The bid-to-cover ratio for Japans 2-year government bond auction was 3.88, higher than the 3.26 for the previous issuance in December.Market Warnings: Risks in the Gold Market 1. Carson Group: Gold prices have stretched to near-extreme levels, and some moderate profit-taking is not surprising. 2. Spartan Securities: A pullback in gold and silver futures may indicate that prices have reached recent highs, making this reversal significant. 3. Vantage Point: Recent gold price movements have become rapid, emotional, and non-linear, a warning sign that the trend is overextended at a tactical level. 4. Market analyst Jeremy Boulton: Gold is what really needs to be watched closely; its price surges in an extremely volatile manner, significantly increasing the risk of a reversal. The current gold price rally is extremely distorted. Any extreme movement warrants caution. 5. Galaxy Overseas: Gold and other precious metals appear to be in a self-reinforcing feedback loop, with their price movements themselves becoming news drivers of price changes. This could affect investors perception of fiat currency-related risks and lead to a widening of the bond risk premium at the long end of the yield curve. Investment banks remain bullish on gold: 1. Goldman Sachs: The sharp two-way fluctuations in silver prices may persist, while emphasizing that the year-end gold price target of $5400 still faces significant upside risks. 2. RBC Capital Markets: Golds upward momentum is far from peaking, with prices potentially reaching $7100/oz by year-end (previously predicted to reach around $5200 in the fourth quarter). 3. Deutsche Bank: Gold reaching $6000 is achievable given the weakening dollar this year. Based on the outperformance of the past two years, gold prices could even reach $6900. 4. OCBC Bank: Raised its year-end 2026 gold price target from $4800 to $5600. The rise in gold prices reflects recent developments and their continued exceeding expectations, rather than a reassessment of the underlying logic. 5. Bank of America: While history doesnt always predict the future, the average gold price increase in the past four bull markets was approximately 300% over 43 months, suggesting gold will reach $6,000 per ounce by the spring of 2026. 6. UBS: Maintains a bullish stance on gold and has raised its price forecasts for March, June, and September of this year to $6,200 (previously $5,000), expecting a modest pullback to $5,900 by the end of 2026. 7. Bank of Montreal: Assuming central banks purchase a total of 8 million ounces of gold per quarter, while ETFs see inflows of approximately 4-5 million ounces per quarter, and with continued weakening of real yields and the US dollar, this will push gold to $6,350 in Q4 of this year and $8,650 in Q4 of next year.

Prediction for ADA Price: US Inflation and the NASDAQ Will Deliver $0.325

Daniel Rogers

Dec 09, 2022 15:19

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IOHK network updates and US economic statistics may test buyer interest on Friday, following Thursday's high day for ADA.

 

On Thursday, ADA jumped 1.61 percent. ADA closed at $0.315 on Thursday, partially reversing Wednesday's 2.52% loss. Notably, the price of ADA dropped below $0.310 for the second time in eight sessions and ended a three-session losing trend.

 

ADA dropped to a morning low of $0.307 after a bearish start to the day. ADA reached a late-day high of $0.316 after avoiding the First Major Support Level (S1) at $0.0305. Nevertheless, unable to surpass the First Major Resistance Level (R1) at $0.318, ADA ended the day at $0.315.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

Thursday, US economic figures bolstered the likelihood of a December Fed policy shift. During the week ending December 2, initial jobless claims rose from 226 thousand to 230 thousand. Following the release of last week's US Employment Report, concerns about a pick-up in the rate of hiring cast doubt on the Fed's plans to slow the rate of interest rate hikes.

 

Cardano network improvements were also favorable for the ADA price, averting a drop below $0.300. Charles Hoskinson, the company's founder, was in the limelight, highlighting the benefits of the Midnight privacy protocol meant to provide smart contracts with anonymity.

 

It was another instance of ongoing activity on the Cardano network, although the information was insufficient to warrant a breakout session.

 

Input Output HK (IOHK) will provide the weekly Development Update later today. A surge in network projects would result in an increase in ADA prices. However, the NASDAQ and US economic indices will need to provide support. The wholesale inflation and consumer confidence numbers in the United States will impact market risk sentiment.

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