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The Dow Jones Industrial Average opened 46.84 points higher, or 0.09%, at 51,608.77 on Friday, June 5; the S&P 500 opened 50.33 points lower, or 0.66%, at 7,533.98; and the Nasdaq Composite opened 313.02 points lower, or 1.17%, at 26,517.94.June 5th - US stocks opened with the Dow Jones Industrial Average up 0.1%, the S&P 500 down 0.6%, and the Nasdaq down 1.2%. Most chip stocks declined, with Arm (ARM.O) falling over 5%, Micron Technology (MU.O) down over 4%, Marvell Technology (MRVL.O) down 6%, and Intel (INTC.O) down over 5%. Lululemon (LULU.O) fell over 10% after its earnings release.On June 5, 2026, witnessed by the top leaders of the two parties and countries of China and Laos, Zheng Shanjie, Director of the National Development and Reform Commission of the Peoples Republic of China, and Santhiphan Phomvihane, Deputy Prime Minister of Laos, Minister of Finance, and Chairman of the Lao-China Cooperation Committee, signed a Memorandum of Understanding between the National Development and Reform Commission of the Peoples Republic of China and the Lao-China Cooperation Committee of the Lao Peoples Democratic Republic on promoting cooperation in the development of green industries. The two sides will further strengthen exchanges and cooperation in areas such as energy conservation and carbon reduction industries, environmental protection industries, resource recycling industries, green and low-carbon energy transformation, green upgrading of infrastructure, ecological protection, restoration and utilization, and green services.Institutional analysts commented on the US non-farm payrolls: The market now believes there is nearly a 70% chance that the Federal Reserve will raise interest rates at its meeting on October 28. Imagine how Trump would react if Warsh announced a rate hike before the midterm elections.On June 5, the U.S. military issued a statement saying it had intercepted and boarded the stateless vessel "Davina" in the Indian Ocean. The statement implied that the ship was providing logistical support to Iran.

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).

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