EUR/USD 1.14757
-0.308%
Gold 5091.89
0.244%
Oil 95.362
0.171%
USD/JPY 159.410
0.044%
GBP/USD 1.32950
-0.353%
GBP/JPY 211.940
-0.260%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On March 13th, betting on clean energy stocks seemed foolish after Trumps return to the White House last year. But for Helen Jewell, Chief Investment Officer for International Fundamental Equities at BlackRock, the clean energy rally is poised to continue, as the US-led Middle East wars provide a stark reminder of the worlds deep dependence on the regions oil and gas. She said the strikes against Iran "highlight the strategic importance of energy independence, grid resilience, and secure domestic power generation. Given the need for rapid, secure incremental growth in national grids, clean energy stocks are poised to continue their upward trend." Jewell stated, "We are very clear that for AI to succeed, you need such a massive amount of energy that the story is no longer about replacing traditional energy, but about coexisting with traditional energy." A year has passed: as of Wednesdays close, the S&P Global Clean Energy Transition Index surged 61%, far exceeding the S&P 500s 23% gain. It also outperformed the "Big Seven" stocks 39% gain and nearly doubled the gains of oil stocks—despite oil prices rising above $100 due to the Iran war.Two sources said that the Chevron-led Tengri oil field in Kazakhstan has not stopped crude oil production following the recent accident.March 13 - Ship tracking data shows that approximately 30 oil tankers carrying Russian crude oil and fuel in Asian waters are now eligible for trade following the U.S.s issuance of temporary purchase waivers for goods already en route. Data shows these vessels are carrying at least 19 million barrels of Russian crude oil and 310,000 tons of refined petroleum products. The refined products mainly consist of naphtha used in plastics production and some diesel fuel; prices for these products have surged since Irans de facto blockade of the Strait of Hormuz. Tracking data shows these vessels are currently in a "standby" status – meaning they have no definite destination or are en route to Singapore and Malaysia, areas where tankers typically remain awaiting cargo deals. Kpler senior crude oil analyst Muyu Xu stated that the U.S. decision is "buying time for countries and refiners to cope with supply shocks from the Middle East." She noted, "Countries will buy any resources they can find – energy security is a top priority for all countries."Japanese Ministry of Industry and Trade officials have requested that refineries draw on Japans oil reserves and release them to the market starting next week to meet domestic demand.The Israeli military claims it has attacked the Zalariyah Bridge over the Litani River in Lebanon.

The international gold price looks at $1738 in the future

Oct 26, 2021 11:01

On Monday (October 11), international gold prices were slightly under pressure, due to the stabilization of the US dollar index and concerns that the Fed may begin to reduce stimulus this year amid weak employment data. Looking at the price of gold, the market outlook is $1738 per ounce.

At GMT+8 13:55, spot gold fell 0.04% to US$1756.46 per ounce; the main COMEX gold contract fell 0.07% to US$1756.3 per ounce; the US dollar index rose 0.01% to 94.117.


Last Friday (October 8), after the U.S. non-agricultural employment data was released, the price of gold hit a new high since September 22 to $1,781.41 per ounce, but in the end it gave up most of the gains and closed only 0.08% higher to $1,57.19 /ounce.

Data from the US Department of Labor last Friday showed that US employment increased by 194,000 in September, far below the expected increase of 500,000, and the increase was the smallest in nine months, affected by reduced school recruitment and labor shortages.

Despite the sharp slowdown in employment growth in September, as the latest wave of viral infections in the United States peaked and started to fall, coupled with the end of the generous unemployment subsidy program, employment growth may be boosted in the coming months. The Fed may begin to reduce its support for the economy next month.

On the daily chart, the price of gold has started a three-wave downward trend from US$1,781, and the support below looks to the 38.2% target of US$1738. Wave 3 is a sub-wave of the downward (3) wave that started at $1834. (3) Lang's 61.8% target is at $1688. (3) Wave is a sub-wave of the downward ((Y)) wave that started from 1917 USD. The ((Y)) wave belongs to the adjusted IV wave that started at $2,075.

Suggestion