EUR/USD 1.15579
-0.259%
Gold 4501.57
-3.165%
Oil 96.968
2.893%
USD/JPY 159.297
0.997%
GBP/USD 1.33332
-0.723%
GBP/JPY 212.398
0.318%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
A spokesperson for the Saudi Ministry of Defense said that four drones were intercepted in the eastern region.March 22 – Shougang Group and FAW Group have recently completed the material development and application verification of 2.4 GPa (2400 MPa) grade hot-formed steel. The successful development of this material marks my countrys entry into the ranks of global leaders in the application of high-performance automotive steel. The 2.4 GPa grade hot-formed steel will be first applied to key safety structural components of Hongqi models.March 22 – The China Development Forum Annual Meeting 2026 opened in Beijing on the 22nd. Before the opening ceremony, Jeffrey Sachs, a professor at Columbia University and a renowned economist, commented on the war with Iran, calling it a "shameful war" waged by the United States and Israel, which will severely impact the global economy, but its impact on China will be limited. He emphasized that if the war continues, it could trigger a global economic crisis. This war has not only closed the Strait of Hormuz but is also destroying the energy infrastructure of Gulf states. "All countries in the world should tell these two countries, stop, go home! You have abused the international system, you are reckless, you have violated the UN Charter, stop your aggression."The Israeli military says it is currently conducting airstrikes against Tehran.March 22 - According to reports from the British military, a Royal Navy nuclear-powered submarine, capable of launching cruise missiles, has arrived in the Arabian Sea on the evening of March 21, local time.

Forecast for the price of gold: XAU/USD tussles with $1,730 resistance before US inflation

Daniel Rogers

Sep 13, 2022 10:57

 124.png

 

As traders anticipate the crucial US Consumer Price Index (CPI) on Tuesday, the price of gold (XAU/USD) grinds higher above a fortnight peak after a two-day advance to $1,725 per ounce. The market's optimism and anticipated preparations for today's inflation data may be responsible for the metal's most recent increases.

 

The market's cautious optimism appears to have been supported by rumors that Ukraine is succeeding in driving the Russian troops away from some of its conflict zones, even though this also increased concerns about Russia's strong response. The expectation of additional stimulus from powerful economies like China, the US, the UK, and Europe might be on the same lines. It's important to keep in mind that a Chinese holiday and a light schedule may have contributed to the XAU/recovery USD's because Beijing's lack of political or economic problems may have supported metal prices. In addition, recent news from the Wall Street Journal (WSJ) that US gas prices have fallen for a 13th week in a row helped to relieve market pressure and encouraged a risk-taking attitude that was favorable to the gold price.

 

However, the recent easing of the headline economics and the inflation expectations seems to have pushed back the gold bears despite a light schedule, even though the policymakers from the US Federal Reserve and the European Central Bank (ECB) remain hawkish elsewhere.

 

In the midst of these maneuvers, Wall Street posted another day of profits despite rising US Treasury yields, which at the time were up five basis points (bps) to 3.36%. The US Dollar Index (DXY), which fell for a second straight day to the lowest levels in a fortnight, eventually dipped to approximately 108.30, was affected by the same factors.

 

Moving on, the US CPI for August is critical in light of the most recent easing of pricing pressure. According to the projections, the headline figure will decline to -0.1% MoM from 0.0% the previous month, while the CPI excluding food and energy is expected to hold steady at 0.3% MoM. The US dollar may continue to decline if the inflation numbers are weaker, which might support the XAU/continued USD's gain.

Suggestion