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On April 21, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) released a report on the economic performance of central enterprises in the first quarter. The data showed that the central enterprises operated smoothly and orderly in the first quarter, with continued improvement in operational efficiency. Fixed asset investment reached 1.05 trillion yuan, a year-on-year increase of 23.5%, and added value reached 2.7 trillion yuan, a year-on-year increase of approximately 3%. Industrial development is moving towards new and superior directions, with investment in strategic emerging industries increasing by 19.5% year-on-year.On Tuesday, April 21, the Hang Seng Index opened 81.22 points higher, or 0.31%, at 26,442.29; the Hang Seng Tech Index opened 26.9 points higher, or 0.53%, at 5,092.53; the H-share Index opened 37.32 points higher, or 0.42%, at 8,936.38; and the Red Chip Index opened 13.31 points higher, or 0.31%, at 4,349.94.Hong Kong stocks opened higher, with the Hang Seng Index up 0.31% and the Hang Seng Tech Index up 0.53%.The Peoples Bank of China announced today that it conducted a 5 billion yuan 7-day reverse repurchase operation, with a bid amount of 5 billion yuan and a winning bid amount of 5 billion yuan. The operation rate was 1.40%, unchanged from the previous rate.The Xiaomi Vision Gran Turismo (hereinafter referred to as "Xiaomi Vision GT") will be unveiled at the 2026 Beijing International Automotive Exhibition, marking its first appearance at a domestic auto show.

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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