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[Live coverage of the Asian market] Did China's central bank's move equivalent to a rate hike? Today, we closely watch Powell's testimony, waiting with bated breath after the plunge in gold prices.
On Tuesday, July 9, most Asian stock markets rose, following another historic high of the S&P 500 index, while traders awaited Jerome Powell's testimony to Congress and the start of the US earnings season.
Precious Metals Continue to Grow – TDS
Precious metals continued to perform well in a holiday-shortened week, TD Securities Senior Commodity Strategist Ryan McKay notes.
Silver Price Analysis: Silver Probably Rising in C Leg of Measured Move
Silver (XAG/USD) has decisively broken out of the descending channel it was in during the second half of May and June.
Top 3 TSX Stocks Estimated To Be Below Market Value In July 2024
The People's Bank of China has suspended gold purchases for two consecutive months, and the spot gold price still reached a high of $2390 per ounce. With the failure of the "barometer", how will the gold price go?
On July 7th, the updated official reserve assets by the State Administration of Foreign Exchange showed that China's official gold reserves in June 2024 remained unchanged at 72.8 million ounces, indicating that the People's Bank of China had paused gold purchases for two consecutive months. Overall, there has not been a significant decline in the investment force in the gold market recently. There are two main risks for gold: one is the Federal Reserve policy risk and the other is the failure of central bank gold purchases to meet expectations.
Express News | China Securities Co., Ltd.: The expected number of interest rate cuts in the United States within the year has been revised to 2 times, which is conducive to pushing up the prices of metals.