EUR/USD 1.12334
0.018%
Gold 4120.73
-0.491%
Oil 97.611
0.224%
USD/JPY 158.192
0.037%
GBP/USD 1.33955
0.018%
GBP/JPY 211.907
0.061%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Foreign investors net outflowed ¥66.5 billion from Japanese stocks in the week ending October 16, compared with a revised figure of ¥3.5455 trillion in the previous week (originally ¥3.5215 trillion).Market news: Russian missiles struck Kyiv, Ukraine.October 22 – According to the New York Times, citing US officials and others briefed on the discussions, the US and Israeli militaries have developed concrete plans to launch another strike against Iran after the US midterm elections. As planning for a brief but high-intensity military operation progresses, the US and Israeli militaries have intensified exercises, sending fighter jets over Iraqi airspace to practice strike maneuvers. US officials stated that US Defense Secretary Hergsays met with Prime Minister Netanyahu in Israel this week to discuss a new round of strikes. Potential targets could include Iranian energy infrastructure, nuclear facilities, and missile and drone arsenals. Some officials believe that another large-scale attack could push the Iranian economy to the brink of collapse, forcing Iran to make concessions in diplomatic negotiations after nearly eight months of conflict.AWS: Amazons threat intelligence team discovered an exploit of the PHP2Shell vulnerability in MadPot, predating its public disclosure.October 22 (Yonhap News Agency) – A survey of economic experts conducted by Yonhap News Agency showed that all six experts surveyed expect the Bank of Korea to temporarily maintain its interest rate unchanged today (October 22), following two consecutive rate hikes in July and August. Experts believe the Bank of Korea will continue its tight monetary policy stance, but compared to a rare third consecutive rate hike, it is more likely to adjust the pace of policy by pausing rate increases and assess the timing of further rate hikes. Experts pointed out that strong semiconductor exports driving economic growth, along with upward inflationary pressures from both supply-side and demand-side factors, mean the rate hike cycle may continue in the short term. From January to August this year, South Koreas cumulative current account surplus reached $279.2 billion, nearly four times the $69.67 billion in the same period last year.

Gold Price Prediction: XAU/USD aims for $1,620.00 as yields surge and the Fed raises rates. Powell's address targeted

Alina Haynes

Sep 28, 2022 14:47

134.png 

 

Gold price (XAU/USD) is fluctuating at $1,625.00 after falling below the Asian session consolidation range of $1,626.83-1,632.72. The precious gold continues to decline after encountering obstacles over $1,640.00. Amid increasing U.S. Treasury yields, the price of gold is anticipated to fall to around $1,620.00. In addition, market participants will keep the precious metal on edge prior to Jerome Powell's Federal Reserve (Fed) address.

 

Fed Powell will sound hawkish and present a road map for additional rate hikes in the remainder of 2022, taking into account the responsiveness of the drop in price pressures to the central bank's rate of rate hikes. The Fed will want to remain data-dependent in 2023. As the gap between current rates and the goal terminal rate of 4.6% is relatively small in 2023, it seems certain that the Fed will slow the pace of rate hikes.

 

In the meantime, the continuous battle against inflationary pressures is boosting the yields on US Treasury securities. The benchmark 10-year rate has reached 4% for the first time since 2010. After reaching a crucial level, yields have experienced selling pressure but have opened the door for additional gains.

 

On an hourly basis, gold prices are exhibiting a reduction in volatility amid auctions inside a restricted range of $1,621.46-1,648.33. An explosion in the same will produce wider ticks and a high volume. The horizontal resistance is derived from the low on September 16 of $1,654.17.

 

Around $1,640.00, the 50-period Exponential Moving Average (EMA) has performed as a significant barrier for the counter. In addition, the Relative Strength Index (RSI) has slipped into the negative 20.00-40.00 region, triggering a momentum decline.


Suggestion