EUR/USD 1.17839
-0.007%
Gold 5174.83
-1.023%
Oil 66.401
0.260%
USD/JPY 155.893
0.795%
GBP/USD 1.34953
0.036%
GBP/JPY 210.387
0.839%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Bank of England: Given limited demand, we will not make any changes to the evening CHAPS (Automatic Payment Clearing System) contingency window.Bank of England: Work on other extended phases, including bank holiday settlements and a broader roadmap toward closer 24x7 settlements, will continue.The Bank of England announced that it will extend the hours of the CHAPS (Automatic Payment Clearing System) settlement service, changing the start time from 06:00 to 01:30.On February 24th, DJI officially filed an appeal with the U.S. Ninth Circuit Court of Appeals, challenging the Federal Communications Commissions (FCC) improper decision on December 23, 2025, to place DJI and its products on the "Controlled List." DJI stated today (February 24th) that this move aims to protect DJIs legitimate rights and interests, as well as the interests of American consumers and agricultural users who rely on DJI products but are affected by the ban. In its complaint, DJI stated that the FCCs decision has serious procedural and substantive flaws. The FCC placed DJI on the "Controlled List" without providing any substantial evidence that DJI products pose a threat to U.S. national security, which not only violates due process principles but also potentially violates the U.S. Constitution and relevant federal laws.On February 24th, the British Foreign Office issued a statement imposing sanctions on 175 entities within the "2Rivers" network on the fourth anniversary of the outbreak of the Russia-Ukraine conflict. The action also targets Transneft, one of the worlds largest oil pipeline companies, which the UK claims handles over 80% of Russias oil exports. The British Foreign Secretary stated that the UKs decisive action today cuts off key funding, military equipment, and revenue sources supporting Russias aggression, representing the largest sanctions measure since the early stages of the Russia-Ukraine conflict. The "2Rivers" network, linked to Azerbaijani traders Aitibar Eyub and Tahir Garayev, continued to transport hundreds of millions of barrels of Russian crude oil despite international sanctions imposed due to the conflict. This offshore network, formerly known as "Coral," expanded rapidly before EU and UK sanctions weakened its operations in 2024. At the time, Garayevs lawyer denied any connection to Transneft or Eyub, stating that he had not been involved in any oil-related business since the end of 2022.

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