On Thursday, September 8, spot gold rose and then fell, backed below the $ 1710 mark, and finally closed up 0.53%, at $ 1708.59 per ounce; spot silver rallied and fell, and finally closed down 0.51%, at $ 18.42 per ounce.
With Europe set to tighten monetary policy dramatically today along with the Federal Reserve Chairman Jerome Powell’s press conference, risk assets are showing some fight. The question is how long can this last?
Spot gold extended its rally during the Asian and European sessions on Thursday, September 8, as the dollar index paused on its upward trajectory, limiting gold price declines. Cautious investors await the new ECB interest rate resolution and the Fed Chairman Powell’s upcoming comments later in the day. At 15:06 GMT, spot gold rose 0.26% to $1722.43 per ounce; COMEX futures gold main contract $1733.5 per ounce; the dollar index moved up 0.09% to 109.655.
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On Wednesday, September 7, spot gold oscillated upward, approaching the $1,720 mark, and it eventually closed up 1.01% at $1,718.41 per ounce; spot silver stood at the $18 mark, eventually closing up 2.22% at $18.45 per ounce.
During Asian and European sessions on Wednesday, September 7, spot gold shock weakness, once refreshing the four-day low to in the vicinity of $ 1691.31 per ounce. It is currently trading near $1703.64 per ounce; market expectations of a 75 basis point Fed rate hike in September climbed again, helping the dollar index to refresh more than 20-year highs. The U.S. bond yields higher, and most of the world’s central banks favor further interest rate hikes, are forming pressure on gold prices.
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In early Asian trade on Wednesday, September 7, the dollar index was trading near 110.22; the dollar climbed on Tuesday and once again set a new two-decade high of 110.57 during the session, with the U.S. non-manufacturing activity index rising slightly to 56.9 last month from 56.7 in July, the second consecutive monthly rise after three months of declines, reinforcing the view that the U.S. is not in recession.
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Amadeus IT Group SA has risen higher in 8 of those 11 years over the subsequent 52-week period, corresponding to a historical accuracy of 72.73%. Looking at the technical picture of the Amadeus IT Group SA (BME: AMS) stock on our 4-hour chart we can see that, today, the share price managed to overcome a short-term tentative downside resistance line taken from the high of May 30th.
Looking at the technical picture of the Fraport AG (ETR: FRA) stock on our daily chart, we can see that from around the beginning of March, the share price is trading in a range, roughly between the 45.50 and 55.12 levels. Before entering the range, the prevailing trend was to the downside. The price is currently closer to the lower bound of that range, meaning that there is a good chance to see a breakout lower. That said, as long as the stock continues to stay inside that range, we will keep a neutral approach.
The Russia-Ukraine conflict has triggered turmoil in the financial markets, and drastically increased uncertainty about the recovery of the global economy. As Russia continues to wage war on neighbouring Ukraine, there’s a second war front that’s been wreaking havoc on the markets and will probably continue to do so even after the much-anticipated end of the war in Ukraine. The financial war unravels on a global scale and involves hefty tariffs, import and travel bans, and asset seizures between the West and Russia.
U.S. crude oil production rose in June by 1.7% to its highest since April 2020, according to a monthly report from the U.S. Energy Information Administration on Wednesday last week
The Service PMI release is published monthly by Markit Economics. The data are based on surveys of over 400 executives in private sector service companies.
In the past two decades, social media has exploded in popularity, with billions of active users around the globe. This rapid growth would be thanks to the convenience it brings its users in staying connected with one another. What’s more, the industry continues to innovate, bringing new features to connect and entertain users in new ways. At the same time, social media stocks continue to garner plenty of attention nowadays.
Let's look at the quote below: “Why do we fall sir? So that we can learn to pick ourselves up.” – Alfred
Oil has dropped sharply this week, with fears of a sharp global economic slowdown and its potential impact on demand appearing to move front, it is down more than 6% so far in August, and the Federal Reserve remains committed to a tighter policy to stifle inflation.
The Nonfarm Payrolls (NFP) are among the biggest market movers in the Forex markets and probably the most-watched Forex news item, together with central bank events or interest rate decisions.
Meta, formerly known as Facebook, even went so far as to change its company name to reflect this new focus. The Metaverse has gone from an idea, to a trend to the next big technology frontier in the span of a couple of years. Amongst the craze surrounding this new digital world come different subplots that are as interesting as the Metaverse itself. One of the most interesting stories emerging from the Metaverse’s meteoric rise is how traditional powerhouses such as Microsoft will fare against Meta platforms such as Facebook. In business terms, which company will rule the Metaverse and how will this reflect on its market value?
On Tuesday, September 6, spot gold was trading lower in Asian trading, turning into a bullish trend and approaching the first support at 1716.76; spot silver held steady above the pivoting point at 18.18, with primary support at 18.50; WTI crude oil was testing the pivoting point at 88.90, and once briefly broke the first support at 88.48, so we need to pay attention to its post-market direction choice.