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On March 14, local time, the U.S. Embassy in Venezuela raised the American flag, marking its reopening after seven years. Venezuela severed diplomatic relations with the United States in January 2019 due to continued U.S. interference in Venezuelas internal affairs, and all U.S. diplomatic personnel withdrew from the embassy in March of that year. Following the establishment of diplomatic dialogue between Venezuela and the United States on March 5 this year, the two governments decided to restore diplomatic and consular relations.On March 14, Iranian Islamic Revolutionary Guard Corps spokesman Naini stated that Irans attacks on US bank branches were a response to previous attacks on two Iranian banks. He added that if the enemy takes similar actions again, all US bank branches in the region will become legitimate targets for Iranian strikes. According to Irans Tasnim News Agency, on the evening of March 13, local time, Citibank branches in Dubai, UAE, and Manama, Bahrain, were attacked by drones.Israel Defense Forces: Earlier this week, the Israeli Air Force, acting on intelligence from the Israel Defense Forces, launched an attack and killed Hisham Abdul-Karim Yassin, a key commander of Hezbollahs communications department and the Palestinian forces of Irans Quds Force.Musk: The TeraFAB project, a super-large semiconductor manufacturing plant, will be launched within 7 days.Ukrainian Foreign Minister: The international community must respond to Russia’s actions with stronger pressure, harsher sanctions, and more support for Ukraine.

The international gold price looks at US$1810 in the market outlook

Oct 26, 2021 11:03

On Thursday (October 14), the international gold price hovered below the high level of 1796.20, which was set overnight since September 16, and the yields of the U.S. dollar and U.S. Treasuries stopped falling and stabilized, limiting the rise of gold prices. The gold price looks at $1810 in the market outlook.

At GMT+8 13:48, spot gold fell 0.12% to US$1790.84 per ounce; the main COMEX gold contract fell 0.17% to US$1791.6 per ounce; the US dollar index rose 0.04% to 94.062.


Gold prices surged by nearly 2% overnight, the U.S. dollar index plummeted by more than 0.5%, and the 10-year U.S. Treasury yield fell for the second consecutive trading day. Therefore, the previously announced data show that the US inflation fever has exceeded expectations.

The Consumer Price Index (CPI) of the United States in September showed that inflation in the United States has steadily risen, and the prices of food, rent and a series of other commodities have all increased. This has put pressure on the Biden administration to immediately resolve the supply chain tension that is hindering economic growth. problem.

The minutes of the Fed’s September 21-22 policy meeting show that policymakers have hinted that they may start to reduce their support to the economy during the crisis in mid-November, but how big is the threat of high inflation and how quickly interest rates need to be raised to deal with it. There are still disagreements on the issues to be addressed.

The world's largest gold-backed exchange-traded fund (ETF)-SPDR Gold Trust's gold holdings dropped from 985.05 tons on Tuesday to 982.72 tons on Wednesday, a decrease of 0.2%.

On the hourly chart, the price of gold started an upward iii wave trend from US$1750 and broke the 76.4% target of US$1796. The market outlook is expected to further touch the 85.4% target of US$1801 and the 100% target of US$1810.

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