EUR/USD 1.15938
0.014%
Gold 4373.97
1.059%
Oil 88.326
-1.170%
USD/JPY 158.651
-0.950%
GBP/USD 1.35037
-0.084%
GBP/JPY 214.249
-1.026%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 2nd, at a technology event in North Carolina, Nvidia CEO Jensen Huang called on G20 members to accelerate the application of artificial intelligence to drive economic growth and urged major world economies to expand data centers and other infrastructure to support this emerging technology. Huang stated, "Every country needs to build infrastructure to support its economy." He likened the technology to water, electricity, and other utilities. He said, "Its a great equalizer." Huang added that for a country, the "worst outcome" is falling behind. He warned that this could happen if the public and policymakers allow concerns about AI to dominate discussions about the technology.The Dow Jones Industrial Average opened 230.07 points higher, or 0.44%, at 52,996.95 on Wednesday, September 2; the S&P 500 opened 3.42 points higher, or 0.04%, at 7,634.96; and the Nasdaq Composite opened 26.34 points lower, or 0.10%, at 26,073.44.September 2nd - US stocks opened with the Dow Jones Industrial Average up 0.37%, the S&P 500 up 0.09%, and the Nasdaq Composite down 0.02%. Most popular Chinese concept stocks fell, with NIO (NIO.N) down nearly 4%, Bilibili (BILI.O) down over 1%, and JD.com (JD.O), NetEase (09999.HK), and Baidu (BIDU.O) all down over 0.5%.Ford Motor Company (FN) sold 170,681 vehicles in August, up 10.3% year-over-year.On September 2, Mohsen Rezaei, Secretary of Irans Supreme National Security Council, stated that Iran has formulated new strategies in military, diplomatic, and counter-economic blockade areas, aiming to "destroy the enemys foundations." Rezaei posted on social media that no matter how much the enemy "struggles to the death," they cannot escape their current predicament. He said the enemy will soon see Irans new strategies in the military, diplomatic, and counter-economic blockade areas.

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