EUR/USD 1.15352
-0.036%
Gold 5008.98
0.057%
Oil 94.079
-1.197%
USD/JPY 159.012
0.012%
GBP/USD 1.33547
-0.003%
GBP/JPY 212.360
0.070%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Peoples Bank of China (PBOC) announced today that it conducted 20.5 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 20.5 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.On March 18th, according to Shaanxi Provincial Governments official website, the Shaanxi Provincial Committee for Comprehensively Deepening Reform held a meeting on March 17th. Zhao Yide, Secretary of the Provincial Party Committee and Director of the Committee, emphasized the need to thoroughly implement the "Four Projects" for the development of technology-based enterprises, establish a key enterprise cultivation pool for "small-to-medium-sized" enterprises, improve the "one-on-one" service mechanism for enterprise listing, and support a number of promising startups to grow into leading local enterprises. He also stressed the need to deepen the reform of the "Five Mechanisms" for science and technology financial services, support financial institutions in launching a number of groundbreaking "first-of-its-kind, first-of-its-kind, first-of-its-kind" business service pilots, and coordinate various financial elements to form a "funding relay" covering the entire innovation cycle.March 18th - According to the website of the China Maritime Safety Administration, the Sanya Maritime Safety Administration issued a navigation warning stating that military training will be conducted in parts of the South China Sea from 13:00 to 18:00 on March 18th, and entry is prohibited.On March 18, Irans Islamic Revolutionary Guard Corps issued a statement announcing the launch of the 61st wave of Operation True Commitment-4 in retaliation for the assassination of Ali Larijani, secretary of Irans Supreme National Security Council.Samsung Electronics Co-CEO Jeon Young-hyun: Chief Technology Officer of the Chip Business, Song Jai-hyuk, has resigned from his position on the board of directors.

Predictions for Gold Prices — Gold prices rose as the dollar weakened

Alina Haynes

May 24, 2022 09:43

Gold prices rise as the dollar weakens to start the week. The currency experienced negative pressure on reduced growth prospects and likely march toward recession. Benchmark rates climbed as shares surged today. Today, the yield on the ten-year Treasury note rose by 3 basis points.

 

On Monday, there was little going on in the world of business. Focus continues on Fed Chair Powell’s speech tomorrow and major economic statistics including PCI and first-quarter GDP published this week. Investors are anxious about impending recession and sluggish economic growth.

Analytical Methods

Gold prices came back from session highs but are still higher and possibly be headed to the 1860s. This week's economic statistics might point to a slowdown in economic growth, which would benefit gold.

 

To begin the week, gold prices held above the 200-day moving average of $1839. Support is indicated near the 200-day moving average near 1839. Resistance is apparent at the May 12th peak of 1858.

 

The Fast Stochastic has formed a crossover buy signal, indicating that the short-term momentum is bullish. Prices are no longer oversold as the fast stochastic prints a value of 54.58, considerably above the oversold trigger level of 20.

 

Medium-term momentum turns bullish as the MACD can provide a crossover buy signal. This occurs as the 12-day moving average minus the 26-day moving average passes below the 9-day moving average of the MACD line.

 

Price declines are predicted by the MACD (moving average convergence divergence) histogram, which shows a downward trend in price.

 

 image.png


Suggestion