EUR/USD 1.14153
-0.125%
Gold 4108.33
-0.370%
Oil 71.472
-0.264%
USD/JPY 161.729
-0.397%
GBP/USD 1.33978
-0.077%
GBP/JPY 216.686
-0.473%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Kremlin: On one side is Russia, and on the other are Ukraine, several European countries, and the United States, who have supplied Ukraine with millions of tons of weapons. This is no longer a special military operation; it is a full-scale war.The Kremlin: When Ukrainian President Zelenskyy came to power, he promised the people to end the conflict—his initial promise. He can still end the conflict by making responsible decisions—withdrawing troops from the Donbas region, from areas now annexed by Russia, and by recognizing the status quo as a legal fact.On July 11th, reports surfaced that Tencent is in talks to become the largest shareholder of Manus, a general AI agent company. According to the report, a Chinese capital consortium led by Tencent is reportedly repurchasing all of Manuss shares from Meta at a valuation of approximately $2 billion. When contacted for confirmation, Tencent had not yet responded at press time. Sources familiar with the matter also revealed that Tencent will retain a minority shareholder position after the transaction, but will not hold a controlling stake.July 11 – According to Russian sources on July 10, when asked whether Turkey had applied to Russia for the sale of the Russian-made S-400 air defense missile system, Russian Presidential Press Secretary Dmitry Peskov stated that the topic was "very sensitive." Russia has already contacted Turkey regarding the future of the S-400 air defense missile system and will continue to maintain communication with Turkey on this issue.July 11 (KCNA) – A spokesperson for the DPRK Foreign Ministry issued a statement on July 11, saying that the United States and its allies recently revealed their intention to orchestrate confrontation during the NATO summit, undermining the European security environment and creating instability in the Asia-Pacific region. The spokesperson stated that the open incitement of confrontational behavior by the US-led NATO allies and partners during the summit proves that NATO is a "war-confrontational organization" seeking exclusive geopolitical interests and acting against international peace globally. The spokesperson added that NATO should have disappeared with the end of the Cold War, but in order to maintain and strengthen its status, it has recklessly pursued eastward expansion, systematically undermining the European security environment, shifting responsibility to other countries, and creating instability in the Asia-Pacific region. These provocative activities must not be tolerated. The spokesperson emphasized that the DPRK will accelerate its efforts to build up its strength to deter confrontational attempts and military threats, and safeguard national sovereignty, security interests, and regional peace and stability.

Gold Price Prediction: XAU/USD Holds Steady Near $1,960 Amid Weaker US Treasury Yields

Alina Haynes

Mar 28, 2023 14:55

截屏2022-06-07 下午5.15.45.png

 

The XAU/USD pair rebounded after hitting a low of $1,944 on Monday, following a significant drop from $2,000 on Friday. As concerns about a banking crisis subsided on Monday, investors shifted away from safe-haven assets such as gold and into speculative assets such as equities and petroleum oil.

 

Monday's acquisition of Silicon Valley Bank (SVB) assets by a regional U.S. lender, First Citizens BancShares, led to the unwinding of Gold trades. First Citizens announced that it would expand its presence in California by assuming $110 billion in assets, $56 billion in deposits, and $72 billion in loans. The Federal Deposit Insurance Corporation (FDIC) holds approximately $90 billion in securities for sale.

 

In addition, Bloomberg reported that US regulators are contemplating expanding an emergency lending facility for banks so that First Republic Bank (FRC) has additional time to strengthen its balance sheet.

 

These banking sector developments have increased investors' risk appetite and instilled a sense of composure. Consequently, yields on U.S. Treasury bonds make sense during a relief rally. This new development encourages the Federal Reserve (Fed) to concentrate on the inflation outlook and contemplate rate increases if required.

 

Recent Fed commentary from members such as Kashkari (a voter), ultra-hawkish Bullard, and Fed Vice-Chair of Supervision Barr suggests that inflation is a higher priority than the banking crisis. Fed officials appear comparatively resilient in the face of banking stress, asserting that the US banking system's underlying fundamentals remain robust.

 

Monday's increase in U.S. Treasury bond yields can be attributed to a relief rally, but it is too soon to conclude that it represents a definitive yield shift. Any further deterioration of the banking liquidity crisis could cause yields to decline and gold to reclaim the $2,000 threshold. Personal Consumption Expenditures (PCE) data for the United States are scheduled for release later this week.

Suggestion