EUR/USD 1.15987
-0.078%
Gold 4581.86
-0.741%
Oil 59.259
0.228%
USD/JPY 158.072
-0.341%
GBP/USD 1.33795
-0.019%
GBP/JPY 211.500
-0.349%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
US President Trump stated that he never offered the position of Federal Reserve Chairman to JPMorgan Chase CEO Jamie Dimon.US President Trump said he will sue JPMorgan Chase within the next two weeks because the bank “dragged away” his banking business after the January 6 protests.U.S. Trade Representative Greer: If the EU wants to raise the issue of potential Greenland tariffs in trade negotiations, then its up to them to decide.The chairman of the German automotive lobbying group VDA stated that the costs of the tariffs threatened by US President Trump would be enormous.Domestic News: 1. my countrys annual electricity consumption exceeded 10 trillion kilowatt-hours for the first time, a figure unprecedented among any single country globally. 2. Two departments announced that the minimum down payment ratio for commercial property purchase loans will be adjusted to no less than 30%. 3. The "Draft Law of the Peoples Republic of China on National Reserve Security" is open for public comment. 4. The Ministry of Industry and Information Technology released management measures, including technology-based SMEs in the tiered cultivation program for the first time. 5. Galactic Energy responded to the failure of Ceres-2s maiden flight: a full investigation is underway to determine the cause of the malfunction. 6. The General Administration of Customs stated that during the 15th Five-Year Plan period, both exports and imports should be expanded appropriately. 7. Eastern Theater Command: The PLA organized naval and air forces to monitor and alert US warships transiting the Taiwan Strait, effectively responding to and handling the situation. 8. Southern Theater Command: The Southern Theater Command recently organized drones to conduct normal flight training in the airspace near Dongsha Island, which is entirely legitimate and legal. International News: 1. British media: Nvidia suppliers suspend production of key components for the H200 chip. 2. Musk: AI5 chip design is nearing completion, AI6 is still in its early stages. 3. US-led coalition warplanes flew over the conflict zone in northern Syria, dropping warning flares. 4. Syrian government forces: have captured the Sufyan and Thawrah oil fields in the north. 5. US Commerce Secretary threatened South Korean and other memory chip manufacturers: either build in the US or pay 100% tariffs. 6. Iranian Supreme Leader Khamenei: Trump has caused casualties and losses in Iran and slandered Iran; he is a criminal.

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