EUR/USD 1.15483
-0.406%
Gold 4296.40
-1.197%
Oil 99.239
2.183%
USD/JPY 154.485
0.522%
GBP/USD 1.34908
-0.260%
GBP/JPY 208.417
0.260%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
French President Emmanuel Macron met with the Iraqi Prime Minister at the Élysée Palace.On September 14th, according to the Scottish Herald, leaders of Scotland, Wales, and Northern Ireland called on the UK government to "prepare, plan, and facilitate constitutional change in each jurisdiction." On Monday morning local time, Scottish First Minister John Sweeney, Welsh First Minister Rune Ap Iowos, and Northern Ireland First Minister Michel ONeill met in Cardiff and signed a joint memorandum of understanding with Sinn Féin leader Mary Lou McDonald. At a joint press conference in the Welsh capital, Sweeney called the summit "a pivotal moment in the UKs constitutional process," emphasizing that Scotland, Wales, and Northern Ireland should independently decide their own constitutional paths without any obstacles. He referred to Andy Burnham as the UKs "last prime minister" and stated that an independence referendum must be held within the next five years.The U.S. Geological Survey reports a 5.6-magnitude earthquake 78 kilometers north-northeast of Tobelo, Indonesia.Citigroup expects the Bank of England to raise interest rates by 25 basis points each in the fourth quarter of 2026 and the first quarter of 2027, compared to its previous forecast that rates would remain unchanged until the second quarter of 2027.September 14 - According to a report released by the Indonesian Meteorology, Climatology and Geophysics Agency, a 6.2-magnitude earthquake struck 42 kilometers northeast of North Maluku province, Indonesia, at 17:58 local time on September 14, with a focal depth of 145 kilometers. There is no tsunami risk at present.

Gold Price Prediction: XAU / USD will continue to fluctuate above $1,900 despite a decline in US Inflation

Daniel Rogers

Mar 15, 2023 11:43

截屏2022-09-15 下午3.06.36.png

 

Gold price (XAU / USD) is not in danger despite U.S. inflation figures meeting expectations. Since Monday, the precious metal has been fluctuating continuously between $1,895 and $1,913. The release of the US Consumer Price Index (CPI) failed to produce a significant reaction in the Gold price; however, the upside bias appears to be solidified as wagers on lesser rate increases from the Federal Reserve (Fed) have increased.

 

The US Dollar Index (DXY) is protecting the critical support at 103.50, but it appears vulnerable to further losses as investors' risk appetite has dramatically increased. As market participants purchased S&P500 futures in response to higher odds of a smaller rate hike from Fed chair Jerome Powell, a likely recession in the US economy was postponed, signaling an uptick in optimism.

 

Contrary to the risk-on sentiment, demand for US Treasury bonds remained weak, causing 10-year US Treasury yields to rise above 3.68 percent.

 

The headline As anticipated, the US CPI increased by 0.4% on a monthly basis, and the annual figure decreased from 6.4% to 6.0%. In addition, the core CPI, which excludes crude and food prices, decreased to 5.5% from 5.6% previously. The Fed appears to be pleased with the persistence of a declining trend in US inflation.

 

In the future, investors will closely monitor the US Retail Sales (Feb) data. Monthly Retail Sales data is anticipated to decline by 0.3% compared to the previous release of a 3.0% increase. This indicates that the consumer spending rebound is over and the Fed is on course to achieve its inflation target of 2%.

Suggestion