EUR/USD 1.16748
-0.323%
Gold 4435.38
2.911%
Oil 57.133
1.158%
USD/JPY 156.971
-0.015%
GBP/USD 1.34334
-0.504%
GBP/JPY 210.873
0.065%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On January 5th, Sanxia New Materials announced that it plans to acquire a 40% stake in Sanxia New Materials Lingang New Materials (Yichang) Co., Ltd. from Yichang State-owned Capital Investment Holding Group Co., Ltd., for a transaction amount of RMB 0. This transaction constitutes a related-party transaction but does not constitute a major asset restructuring. The company has held a special meeting of independent directors and the board of directors to review and approve the transaction, which does not need to be submitted to the shareholders meeting for review. In the past 12 months, the company has not conducted any related-party transactions with the same related party, and the cumulative transaction amount with different related parties is RMB 156,000.The Bank of Englands consumer credit figures for November were £2.077 billion, below the expected £1.1 billion and the previous figure revised from £1.119 billion to £1.713 billion.The Bank of Englands mortgage lending in November was £4.49 billion, below the expected £4.5 billion and the previous figure revised from £4.273 billion to £4.156 billion.The Bank of England approved 64,530 mortgage loans in November, below the expected 64,400 and the previous figure revised from 65,018 to 65,010.Sunny Optical Technology (02382.HK): In order to promote the rapid development of the Company’s automotive-related optical business, the Company is considering spinning off its spin-off business and listing it independently on the Main Board of the Hong Kong Stock Exchange.

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