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1. According to the Financial Times: US regulators will block the CME Group from accelerating its application to list 24-hour oil contracts, citing concerns that the energy market is not yet ready to handle a large influx of all-day derivatives. 2. According to the Iranian Students News Agency, Pakistani government sources say that Pakistan and Qatar have established new channels of contact with the US and Iran, aiming to halt military operations and push both sides back into the negotiation process based on the Islamabad Memorandum of Understanding. 3. According to Israels i24 News: Two Israeli sources revealed that Iran currently has no intention of involving Israel in the escalation of the regional situation. 4. According to Mysteel, this week the national average profit per ton of coke for independent coking plants was 49 yuan/ton; the average profit for first-grade coke in Shanxi was 72 yuan/ton, in Shandong it was 75 yuan/ton, in Inner Mongolia it was 55 yuan/ton, and in Hebei it was 95 yuan/ton. 5. The USDAs net export sales report shows that for the week ending July 2, U.S. soybean net export sales for the 2025/2026 marketing year totaled 54,000 tons, at the lower end of the market expectation range of 50,000-500,000 tons, compared to 42,000 tons the previous week. 6. Data released by the U.S. Department of Agriculture (USDA) shows that private exporters reported sales of 136,000 tons of soybeans to China and 120,000 tons to unknown destinations. 7. According to USDA agricultural drought monitoring data, as of July 7, 2026, the drought rate in U.S. soybean producing areas was 19%, unchanged from the previous week and up 10% from the same period last year. 8. According to Mysteel statistics, as of July 9, the spot inventory of lithium ore of 32 sample lithium ore traders was 99,000 tons, a decrease of 4,000 tons from the previous week, of which 57,000 tons were available for sale, an increase of 1,000 tons from the previous week. 9. As of July 9, methanol inventory at East China ports was 199,400 tons, down 32,700 tons from 232,100 tons on July 2. 10. According to Chilean customs export data, Chiles total lithium carbonate exports in June 2026 reached 21,600 tons, up 12.75% month-on-month and 47.56% year-on-year. Of this, 15,095 tons were exported to China, up 10.98% month-on-month and 47.61% year-on-year. 11. EIA Natural Gas Report: As of the week ending July 3, total U.S. natural gas inventories were 2.983 trillion cubic feet, up 61 billion cubic feet from the previous week but down 15 billion cubic feet from the same period last year.International Monetary Fund (IMF) Managing Director Kristalina Georgieva spoke this week with Venezuelan interim president Rodríguez to discuss using Venezuela’s $350 million Special Drawing Rights (SDR) quota to meet urgent humanitarian needs.Fitch: Limited fiscal space in the UK is expected to hinder significant policy easing.Iranian Foreign Minister Araqchi: Iran has the right to defend itself in response to any further adventurous actions by the US military.Market news: AI training startup Mercor is reportedly discussing a $20 billion valuation.

Gold price prediction: XAU/USD slips to $1,690 on Fed forecasts; US retail sales expected

Daniel Rogers

Sep 15, 2022 11:37

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Gold price (XAU/USD) has adopted a downward trend after falling below Wednesday's minimum of $1,693.67. The precious metal is falling nearing $1,690.00 as bears take control of rising probabilities for a massive Federal Reserve (Fed) rate hike in the near future.

 

Earlier symptoms of weariness have dissipated as a result of Tuesday's higher-than-anticipated US Consumer Price Index (CPI) report. Despite declining gasoline costs, the headline US CPI was announced at 8.3%, which was higher than the 8.2% prediction. The investment community believed that inflation had begun to respond to the Federal Reserve's (Fed) raising interest rates and that a succession of declining price pressures would soon enable the Fed to adopt a 'neutral' stance.

 

However, a US inflation report that exceeded forecasts demonstrates that the road to a neutral monetary policy is far from complete. Moreover, predictions of a one percent rate increase are currently ascendant.

 

In today's session, the US Retail Sales report will be of paramount importance. The economic data estimates do not indicate any improvement in retail demand. This could be the outcome of a fall in consumer confidence in the economy.

 

The gold price has experienced a precipitous decline after demonstrating a textbook-style test and the collapse of a consolidation pattern. On an hourly scale, the consolidation formed within the region of $1,697.12-1,709.62. At $1,698.70, the yellow metal is trading below the 20-period Exponential Moving Average (EMA), which increases the downside filters.