EUR/USD 1.17026
-0.183%
Gold 4861.67
2.066%
Oil 59.769
0.530%
USD/JPY 157.997
-0.089%
GBP/USD 1.34098
-0.242%
GBP/JPY 211.874
-0.320%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Meta Platforms (META.O) saw little movement in pre-market trading, currently up 0.5%.On January 21, Yibai Pharmaceutical announced its 2025 annual performance forecast, projecting a net loss attributable to shareholders of the listed company of 285 million to 342 million yuan. This compares to a loss of 317.22 million yuan in the same period last year. During the reporting period, reduced sales of the companys main products led to a decrease in revenue, while costs and expenses, although decreasing somewhat, still exceeded revenue. Furthermore, the company expects to accrue goodwill impairment provisions of 110 million to 132 million yuan, further exacerbating the losses.According to Hong Kong Stock Exchange filings, JPMorgan Chase increased its long position in Ganfeng Lithium (01772.HK) from 5.81% to 6.53% on January 15.NATO Secretary General Rutte: I am dealing with the Greenland issue behind the scenes, but I cannot do so publicly.January 21st - Market analyst Jeremy Boulton stated that risk aversion has impacted the market in response to the latest tariff threats. The US dollar should typically rise in tandem with other safe-haven assets. Gold prices have risen $351/ounce from Fridays lows, reaching a record high of $4887. However, the dollar has fallen, indicating that market risk aversion is not strong. If the market is not fearful, traders will continue to take risks and speculate. The significant rise in gold prices actually suggests that the trade war has triggered deep-seated concerns. The trend of "selling the dollar" may reinforce Trumps stance.

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