EUR/USD 1.15853
-0.568%
Gold 4458.14
-3.118%
Oil 82.713
-0.301%
USD/JPY 160.075
0.430%
GBP/USD 1.35378
-0.402%
GBP/JPY 216.693
0.027%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to the Swiss media outlet Blick, a shooting occurred at a rave party in Switzerland, leaving multiple victims.On August 30, traffic authorities in Russias Stavropol Krai reported that a bus traveling from Georgia to Moscow rear-ended a truck in the region early that morning, resulting in 5 deaths and 38 injuries. Among the injured were 10 children.According to data compiled by Sputnik News on August 30, since 2014, more than 33,000 sanctions have been imposed on Russian individuals, businesses, and transportation. The United States, Canada, and Switzerland have imposed the most sanctions. As of August 26, 2026, other countries have imposed more than 33,700 sanctions on Russian individuals. Approximately 97.3% of these were implemented since the end of February 2022. The United States has imposed the most restrictive measures, accounting for 22% of the total sanctions imposed by all countries, approximately 7,400. Canada (13.2%, approximately 4,400) and Switzerland (11.4%, nearly 3,900) rank second and third, respectively. The European Union and Iceland rank fourth and fifth, respectively, with Iceland fully replicating EU sanctions. Including the 21st round of sanctions, the EU has imposed nearly 3,700 restrictive measures on Russia, and Iceland approximately 3,400. Following Norway (approximately 2,800 items, accounting for 8.4%), the United Kingdom (nearly 2,700 items, accounting for 7.9%), and New Zealand (nearly 2,100 items, accounting for 6.1%). The top ten also includes Australia (approximately 1,700 items, accounting for 5%) and Japan (1,400 items, accounting for 4.3%).On August 30th, it was learned from the Ministry of Emergency Management that, to ensure the smooth progress of the mudslide disaster relief and rescue work in Gyirong County, Shigatse City, Tibet, the Ministry of Emergency Management has dispatched reconnaissance drones and heavy-load drones from its "Swift Emergency" member units to continuously monitor the development of the Purepuqiang Zangbu landslide dam, conduct rolling consultations and assessments, and fully assist and guide local authorities in carrying out all aspects of disaster relief and rescue work. On the evening of August 29th, the forward monitoring drones discovered that a landslide had occurred 2.8 kilometers downstream of the Purepuqiang Zangbu landslide dam, forming a new landslide dam and a new landslide dam lake. The Ministry of Emergency Management quickly convened experts for analysis and assessment, and simultaneously transferred rescue personnel near the Gyirong border crossing to safe locations.August 30 - According to the latest data released by Nepals National Disaster Risk Reduction Authority, as of 9:00 a.m. local time on the 30th, the death toll from the landslide disaster in Nepal has risen to 734, with 2,498 people still missing.

Gold Price Prediction: The XAU/USD pair recovers from $1,755 as Fed and US-China-inspired risk aversion subsides

Daniel Rogers

Aug 03, 2022 14:44

 截屏2022-08-02 下午5.45.57_1024x576.png

 

During Wednesday's Asian session, the gold price (XAU/USD) regains its intraday high above $1,765 while consolidating the largest daily decline in two weeks. In doing so, the yellow metal applauds the US dollar's retreat from its weekly high amid a lackluster Asian session. The recovery steps also take into account the more robust activity statistics from China.

 

The US Dollar Index (DXY) falls from the weekly high around 106.55 to 106.34 at press time as market risk aversion decreases in response to July's stronger China Caixin Services PMI. Consequently, the private services index for the dragon country increased to 55.5% from 48 predicted and 54.5 before.

 

Intraday, S&P 500 Futures increase 0.10 percent, while 10-year US Treasury rates decline 1.5 basis points (bps) to 2.72 percent at the latest.

 

Earlier in the day, the US-China spat over Taiwan attracted significant attention and prolonged the previous day's risk-averse sentiment, which impacted on gold prices. Recently, Taiwan's Ministry of Defense stated that China's drills surrounding Taiwan reflect the country's will to undermine regional peace and stability. It should be emphasized that China's warning to the United States not to play the Taiwan card and its pledge to punish Taipei independence advocates, as well as its restriction of natural sand shipments to the Asian economy, appeared to amplify the risk-averse sentiment and sink the US dollar. Concerns that squabbles between the world's top two economies may have further negative effects on the global economy exacerbated recession worries.

 

James Bullard, president of the Federal Reserve Bank of St. Louis, dismissed worries of a US recession while supporting a 50 basis point (bps) rate rise. According to Reuters, the president of the Federal Reserve Bank of San Francisco, Mary Daly, stated that she is awaiting incoming data to determine whether the Fed should slow the rate rises or maintain the present pace. Reuters reported that Chicago Fed President Charles Evans expressed support for a 50 basis point (bps) rate rise at the September meeting if inflation does not improve. In addition, Loretta Mester, president of the Cleveland Fed, stated that she does not believe the US is experiencing a recession and that the job market is in excellent condition. She acknowledged, though, that inflation has not dropped "at all."

 

US Factory Orders for June and ISM Services PMI for July will combine headlines on China and the Federal Reserve to influence short-term XAU/USD movements.


Suggestion