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The Political Bureau of the CPC Central Committee stated that after five years of continuous efforts, the main goals and tasks of the 14th Five-Year Plan have been successfully completed, my countrys economic strength, scientific and technological strength, and overall national strength have reached new heights, Chinas modernization has taken new and solid steps, and the new journey toward the second centenary goal has achieved a good start.February 27 – The Political Bureau of the CPC Central Committee held a meeting on February 27. The meeting pointed out that it is necessary to accelerate the construction of a new development pattern, focus on promoting high-quality development, adhere to the general principle of seeking progress while maintaining stability, coordinate the domestic and international situations, better coordinate development and security, implement more proactive and effective macro policies, enhance the foresight, pertinence and synergy of policies, continuously expand domestic demand and optimize supply, optimize incremental growth and revitalize existing assets, develop new productive forces according to local conditions, deepen the construction of a unified national market, continuously prevent and resolve risks in key areas, focus on stabilizing employment, enterprises, markets and expectations, promote the effective improvement of economic quality and reasonable growth in quantity, maintain social harmony and stability, and achieve a good start to the 15th Five-Year Plan.February 27 – The Political Bureau of the CPC Central Committee held a meeting on February 27, emphasizing the need to continue implementing a more proactive fiscal policy and a moderately loose monetary policy, and to strengthen the coordination between reform measures and macroeconomic policies. The meeting stressed the importance of building a strong domestic market, accelerating the cultivation and expansion of new growth drivers, and speeding up high-level scientific and technological self-reliance. It also called for continuously deepening reforms in key areas, further expanding high-level opening-up, solidly promoting the comprehensive revitalization of rural areas, and advancing new urbanization and coordinated regional development. Furthermore, the meeting stressed the need to further guarantee and improve peoples livelihoods, accelerate the comprehensive green transformation, and strengthen risk prevention and mitigation and security capacity building in key areas. Finally, the meeting emphasized the need to strengthen government self-construction and firmly establish and practice a correct view of performance.Kazakhstans oil production is estimated at 99 million tons in 2025.February 27th, Futures News: Economies.com analysts latest view: Spot gold prices continue to fluctuate narrowly within the latest intraday level, clearly attempting to accumulate upward momentum to pave the way for further gains. The current price is relying on a key dynamic support level, namely stabilizing above the 50-day EMA, which further solidifies the stability of the short-term bullish trend.

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).