EUR/USD 1.13742
0.063%
Gold 4049.04
-0.675%
Oil 80.829
-0.420%
USD/JPY 163.758
0.015%
GBP/USD 1.32938
0.046%
GBP/JPY 217.702
0.081%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 28th - According to reports from the United States, a tornado swept through Wisconsin on the 27th local time. The National Weather Service stated that the tornado crossed Lake Wennabego and moved south around noon that day, causing numerous trees to fall, houses to be destroyed, and cars to overturn along its path. In the Monasha area, the local power company reported that approximately 18,000 customers were without power due to collapsed transmission lines.Hang Seng Index futures opened 0.12% higher at 25,243 points, a premium of 20 points.According to JLC Network Technologys calculations, as of the seventh working day on July 28th, the average price of benchmark crude oil was $89.27 per barrel, with a change rate of 14.64%. Domestic gasoline and diesel retail prices should be increased by 760 yuan per ton. The adjustments are based on: 1. the structure of domestic crude oil imports and the settlement benchmark commodities; 2. minor adjustments may be made during the pricing mechanisms operation based on import structure, etc., and JLC Network Technology will revise accordingly; 3. At 24:00 on July 17th, domestic gasoline and diesel retail prices were increased by 300 and 290 yuan per ton respectively. According to the "ten working days" principle, the adjustment window for this round is 24:00 on July 31st.Alibaba Cloud: Kimi K3 is now available on Alibabas Qianwen AI platform.July 28th, Futures News: Oil prices fell sharply, fuel oil news was unstable, and costs dragged down downstream traders purchasing and selling sentiment at high levels, with most awaiting the latest contract guidance from major refineries. Market trading was subdued, and it is expected that the focus of fuel oil negotiations will be lowered today.

Gold Price Prediction: XAU/USD oscillates about $1,650 as DXY recovers recent losses

Alina Haynes

Oct 25, 2022 15:24

 截屏2022-09-23 下午2.30.52.png

 

Gold price (XAU/USD) is indecisive while rebounding from intraday lows to $1,650 ahead of Tuesday's European session.

 

Nevertheless, the yellow metal attracted purchasers earlier in the day due to a weaker U.S. dollar, but the currency's recent resurgence looks to have weighed on the price recently. It should be mentioned that unfavorable concerns regarding China, one of the world's largest gold consumers, have recently posed a threat to the pricing of precious metals.

 

In the absence of Fed-speak, the US Dollar Index (DXY) gains bids to reclaim the 112.00 mark while trimming its first weekly loss in three weeks. It should be emphasized that the Fed's aggressive rhetoric and weak US PMIs also support the DXY's safe-haven appeal.

 

China's efforts to protect its struggling economy and worldwide pessimism regarding Xi Jinping's third term, not to mention Hang Seng's decline to a 13-year low, impose downward pressure on market mood and the XAU/USD exchange rate.

 

US 10-year Treasury rates continue under pressure around 4.21 percent, down two basis points (bps), while US stock futures and Asia-Pacific markets are moderately bid.

 

Moving forward, second-tier US Housing data and Consumer Confidence indicators may delight gold speculators before Thursday's third-quarter US Gross Domestic Product report (Q3).

Suggestion