EUR/USD 1.15829
-0.360%
Gold 4496.84
-1.030%
Oil 101.081
2.867%
USD/JPY 159.249
0.207%
GBP/USD 1.33960
-0.289%
GBP/JPY 213.333
-0.081%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 21st, during the Q1 2026 earnings call, NIO founder, chairman, and CEO William Li stated that the rising prices of raw materials this year, particularly chips and memory, have put significant pressure on the entire industry. NIO faces an average cost pressure of over 10,000 yuan per vehicle. NIO will maintain price stability and uphold the overall competitiveness of its products and services. It will not prioritize volume as its primary business strategy, but will maintain reasonable growth in sales volume.According to Hong Kong Stock Exchange documents, Liuliumei Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.On May 21, the China-France Working Group on Climate and Environmental Challenges held its first meeting in Beijing, China, on May 20, 2026. The meeting was jointly led by the Chinese Ministry of Foreign Affairs and the French Ministry of European Affairs and Foreign Ministry, with participation from eight relevant Chinese ministries. The French Ministry of Ecological Transition, Biodiversity and International Negotiations on Climate and Nature participated as the French co-lead unit of the working group. The working group serves as a new and important dialogue platform between China and France in the field of climate and environment. The two sides exchanged in-depth views on key issues in the climate and environment field, including global climate governance, the 31st Conference of the Parties to the United Nations Framework Convention on Climate Change and the Second Global Inventory, climate mitigation and energy transition, climate adaptation, biodiversity, land degradation and forests, pollution, water and oceans, territorial spatial planning and ecological protection and restoration, and climate, biodiversity, and environmental finance.U.S. EIA natural gas inventories for the week ending May 15 were 101 billion cubic feet, compared to an expected 96 billion cubic feet and a previous reading of 85 billion cubic feet.Mexican President Simbaum: I will meet with Homeland Security Minister Mourin in Mexico today.

Dollar Growth And Fed Hawkishness Are Pressuring Gold Prices

Aria Thomas

Feb 23, 2023 11:45

107.png


Gold prices moved little on Thursday, but were down for the week as the dollar reached a six-week high on concerns of a hawkish Federal Reserve. Investors are now focusing on impending economic data for additional clues on the U.S. economy and monetary policy.


Later in the day, a revised estimate of U.S. GDP for the fourth quarter will be released, with any sustained evidence of resilience in the economy giving the Fed more room to continue raising interest rates. This notion was strengthened this week by readings on business activity that exceeded expectations.


Friday will also see the release of the Personal Consumption Expenditures price index for January, which is anticipated to confirm that inflation remained persistent throughout the month. In addition, the reading is likely to increase the Fed's calls for sharper interest rate increases in the future months.


At 19:07 E.T., spot gold was unchanged at $1,824.76 per ounce, while gold futures declined 0.1% to $1,832.85 per ounce (00:07 GMT). Both assets were down approximately 0.4% thus far this week.


Wednesday's publication of the minutes from the Federal Reserve's February meeting revealed that the majority of monetary policy committee members supported raising interest rates for an extended period of time this year. However, their proposals for a 25 basis point increase were deemed obsolete after data released after the Fed's meeting revealed that inflation remained much more persistent than anticipated.


Nonetheless, the dollar reached a six-week high versus a basket of currencies. The opportunity cost of holding non-yielding assets such as gold and other precious metals increases as interest rates rise.


This week will also bring inflation data from the Eurozone and Japan, which are expected to indicate that global price pressures remain elevated, likely resulting in tightening monetary conditions.


On Thursday, other precious metals were trading lower. Futures for silver fell 0.6% to $21.530 per ounce, while futures for platinum fell 0.1% to $950.80 per ounce.


High-grade copper futures were muted at $4.1790 per pound on Thursday, after falling 1.1% on Wednesday.


In spite of this, prices of the crimson metal have increased by nearly 2% so far this week, due to evidence of resilience in U.S. economic activity and optimism regarding China's recovery.


Suggestion