• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Samsung Electronics: Has begun shipping 12-layer HBM4E chip samples to major global customers.Reserve Bank of New Zealand external member Hayley: Interest rates are "more likely to be raised sooner rather than later," but the pace and magnitude of any rate hike will depend on the data.Dell (DELL.N) continued to rise in after-hours trading, with gains extending to 37%, after reporting first-quarter results that far exceeded expectations.US Vice President Vance: The United States could still inflict a major setback on Tehrans nuclear program.On May 29, local time, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended a meeting of the "Friends of Global Governance Group" at the United Nations Headquarters in New York on May 28. He elaborated on the extensive discussions among members since the groups establishment regarding reforming and improving global governance, reaching five major consensuses: First, all members advocate promoting the democratization of international relations, believing that all countries, regardless of size, strength, or wealth, have the right to independently choose their social system and development path, and should participate, make decisions, and benefit equally in the global governance process. Second, all members advocate upholding the purposes and principles of the UN Charter, ensuring the equal and unified application of international law and rules, and opposing double standards and imposition on others. Third, all members advocate maintaining the core position of the United Nations, practicing multilateralism, strengthening multilateral mechanisms, and opposing unilateralism and power politics. Fourth, all members advocate improving global governance through reform, gradually narrowing the North-South divide, ensuring that the fruits of development are shared by all people, and leaving no country behind. Fifth, all members advocate addressing the most pressing practical issues of concern to the international community, creating visible results through concrete actions, and ensuring that global governance can withstand the test of time and the people.

Forecast for Gold Price: XAUUSD licks its wounds around $1,770 in lackluster markets

Daniel Rogers

Nov 18, 2022 15:08

 截屏2022-11-17 下午2.41.58_1024x576.png

 

During Friday's Asian session, the gold price (XAUUSD) shows slight rises near $1,762 as it tests the two-day downtrend. However, the precious metal remains on track for its first weekly decline in three weeks.

 

Recent bullion increases may be attributable to a technical rebound amid a light economic calendar and weak macroeconomic conditions. Also likely to have supported the Gold price are the most recent stories indicating a relief for US students, as well as the mixed data from the previous day.

 

Nonetheless, CNBC reported that the Biden administration will petition the Supreme Court to reinstate the student loan debt relief scheme. On the other hand, October's disappointing Philadelphia Fed Manufacturing Index and housing data may have cast doubt on the Fed's recent hawkish rhetoric.

 

The latest Reuters poll for the US Federal Reserve (Fed) predicts that the Fed will downshift in December to deliver a 50 basis point (bps) interest rate hike, although a longer period of US central bank tightening and a higher policy rate peak pose the greatest threats to the present forecast.

 

In addition, recent optimistic US stock futures and better equity prices in the Asia-Pacific area appeared to have aided the XAUUSD bulls.

 

Given the weak economic calendar and the metal's recent corrective rally, bears will need to regularly monitor risk catalysts to maintain control.