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According to Saudi Arabias Al Arabiya TV, the Russian Ministry of Defense stated that Russia also attacked military industrial facilities and logistics service centers in Kyiv.According to Saudi Arabias Al Arabiya TV, the Russian Ministry of Defense stated that Russia attacked multiple infrastructure targets in Ukrainian ports and also struck Ukrainian vessels used for transporting weapons in the Odessa region.September 11th - According to foreign media reports, U.S. consumer price inflation is expected to accelerate in August as gasoline prices rebound after two consecutive months of decline, reinforcing financial market expectations that the Federal Reserve may raise interest rates next week. The U.S. Labor Department will release its August CPI report on Friday. This follows strong performance in several key components of Thursdays PPI report. Economists say that with oil prices returning above $100 per barrel, inflation is bound to remain high and expand further. Other economists believe that price pressures will persist due to import tariffs, especially the recent tariffs imposed on Canada, a major U.S. trading partner.US August Unadjusted CPI YoY (Previous: +3.4%, Median Expectation: +3.4%) 1. Citigroup: +3.3%; Capital Economics: +3.3%; UniCredit: 3.3%; Jefferies: +3.3%; Berenberg Bank: +3.3%; Deutsche Bank: +3.3%; 2. DBS Bank: +3.3%; Nomura Securities: +3.3%; Societe Generale: +3.3%; Lloyds Banking Group: +3.3%; Sparta Capital Securities: +3.3%; Allied Bank of Ireland: +3.4%; 3. Barclays: +3.4%; Wells Fargo: +3.4%; ABN AMRO: +3.4%; ANZ: +3.4%; Danske Bank: +3.4%; Royal Bank of Canada: +3.4%; 4. Bank of America: +3.4%; BNP Paribas: +3.4%; Allied Bank: +3.4%; Monex Group: +3.4%; DekaBank: +3.4%; Morgan Stanley: +3.4%; 5. Goldman Sachs: +3.4%; TD Securities: +3.4%; HSBC: +3.4%; Nikko Securities: +3.4%; UBS: +3.4%; CIBC: +3.4%; 6. JPMorgan Chase: +3.4%; Standard Chartered: 3.4%; Scotiabank: +3.4%; Sberbank Berlin: +3.4%; BMO: +3.4%; ING: +3.5%. US August Unadjusted Core CPI YoY (Previous: +2.5%, Median Expectation: +2.4%) 1. Citigroup: +2.3%; Jefferies: +2.3%; TD Securities: +2.3%; U.S. Bancorp: +2.3%; Allied Bank of Ireland: +2.4%; Deutsche Bank: +2.4%; 2. Barclays: +2.4%; ABN AMRO: +2.4%; Amtrak Financial: +2.4%; Monex Group: +2.4%; Danske Bank: +2.4%; Nordea: +2.4%; 3. ANZ: +2.4%; BNP Paribas: +2.4%; Bank of America: +2.4%; Lloyds Banking Group: +2.4%; SZSE: +2.4%; CIBC: +2.4%; 4. JPMorgan Chase: +2.4%; Capital Economics: +2.4%; Allied Bank: +2.4%; Goldman Sachs: +2.4%; DekaBank: +2.4%; Bank of Montreal: +2.4%; 5. Wells Fargo: +2.4%; HSBC: +2.4%; ING: +2.4%; Nomura Securities: +2.4%; Nikko Securities: +2.4%; Morgan Stanley: +2.4%; 6. Societe Generale: +2.4%; Standard Chartered: +2.4%; UBS: +2.4%; UniCredit: +2.4%; Scotiabank: +2.5%; Sparta Capital Securities: +2.5%.The governor of Russias Tula region said that a Ukrainian drone strike on the region killed two people and injured three.

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

Alina Haynes

Oct 25, 2022 15:24

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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).