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On January 19th, according to foreign media reports, international crude oil futures fell as the possibility of a US attack on Iran leading to supply disruptions decreased, while the market closely watched the US tariff threats over Greenland. As of 21:58 Beijing time, the March Brent crude oil futures contract fell $0.37, or 0.58%, to $63.76 per barrel. The US crude oil futures contract fell $0.28, or 0.47%, to $59.16 per barrel. Rystad analyst Janiv Shah said, "With the rumors of a US attack fading over the past few days, the market is now focused on the situation in Greenland and the extent of the potential serious consequences between the US and Europe, as any escalation of the trade war could impact demand." PVM Oil Associates analyst John Evans said the market also faces the risk of damage to Russian infrastructure and distillate supplies, as forecasts of colder weather in North America and Europe, coupled with concerns about Iran, are making the market uneasy.January 19th - Sources familiar with the matter revealed that Googles sales of Gemini AI models have surged over the past year. Gemini API calls have more than doubled, reaching 85 billion; Gemini Enterprise has grown to 8 million subscribers. Sources indicated that this is expected to boost revenue from Google Cloud server sales, a core business, as customer spending on AI often leads to additional spending on other Google products.The Syrian Democratic Forces, led by the Kurds, say that the Shadadi prison is currently outside their control.Indian Foreign Secretary: India and Afghanistan aim to double bilateral trade to $200 billion by 2032.According to Reuters calculations, Russias oil and gas revenues are expected to fall to 420 billion rubles in January due to weak oil prices and a stronger ruble.

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).