Source: FX Empire
Security & Justice
Southern Lebanon Endures Massive Damage: 40,000 Homes Leveled Across 37 Towns
Israeli forces have systematically destroyed entire neighborhoods in southern Lebanon, leveling more than 37 towns and wiping out over 40,000 residential units, according to Lebanon's National News Agency.
Tuesday, November 5, 2024
Gaps in Coastal Radar Enabled Israeli Raid in Batroun, Army Commander Says
Lebanon’s army chief, General Joseph Aoun, detailed to Caretaker Prime Minister Najib Mikati how Israeli forces likely exploited gaps in the country's coastal radar system during the recent raid carried out in Batroun. The briefing comes as Lebanese officials seek answers on how Israel’s elite Shayetet 13 unit carried out the landing undetected.
Monday, November 4, 2024
Opinion
My Hope for Lebanon
A company of Lebanese soldiers assigned to maintain order in this anxious wartime capital is gathered at its headquarters 100 yards from the Mediterranean. I make the blunder of asking their commander how many of his men are Shiites, Sunnis, Christians and Druze.
Monday, November 4, 2024
The Emptying of Baalbek Is a Moment to Take Stock
“Large numbers of people continue to flee their homes every day, as Israel’s military operations in Lebanon have been going on unabated.” These disturbing words could be from almost any news report about Israel’s invasion of its northern neighbour over the past month. However, they can be found in a report by the Norwegian Refugee Council’s Internal Displacement Monitoring Centre issued on July 27, 2006.
Saturday, November 2, 2024
Sports
FC Barcelona Fears First Team Star Will Be Banned From Playing, Reports SPORT
FC Barcelona is concerned that one of its main first-team stars will be banned from playing at the turn of 2025 because of issues related to his registration and Financial Fair Play (FFP) limits according to SPORT, which cited anonymous sources.
Friday, November 1, 2024
Tottenham Forward Son Heung-min Crowned Asia’s International Player of the Year
Tottenham forward Son Heung-min was crowned as Asia’s International Player of the Year for the fourth time by the Asian Football Confederation at its annual awards ceremony Tuesday.
Wednesday, October 30, 2024
Sunday 7 April 2024 11:06:52
Gold Price Outlook: Hits $2,330 Amid Surging Nonfarm Payrolls; Week Ahead
Gold concluded this week at $2,330, a 4.35% ascent, reaching record highs, notably during a period of robust U.S. economic indicators.
The March Nonfarm Payrolls report in the U.S. showcased strength in the labour market, which typically would hint at less urgency for Federal Reserve rate cuts, yet gold prices surged, overlooking the uptick in U.S. Treasury yields and the dollar’s modest gains.
The price of gold, currently at $2,324, briefly touched $2,330 in the North American session on Friday. This rise is attributed to factors including U.S. dollar dynamics, geopolitical tensions, and sustained physical demand for gold.
The Nonfarm Payrolls for March significantly exceeded expectations, with the job count rising to 303,000, which influenced the Federal Reserve’s rate speculation, as evidenced by the adjusted probability of a June rate cut.
Despite the strong jobs data, Federal Reserve officials maintained a cautious stance on rate adjustments, mirroring Chair Jerome Powell’s earlier comments about no rush to alter rates. This sentiment was reflected across various Fed communications throughout the week.
The sale of locked-up SOL tokens by FTX at a notable discount raised concerns among creditors, impacting Solana’s market value and the broader cryptocurrency sphere. The price of SOL experienced fluctuations following the transaction announcements, highlighting the potential risks and volatilities in cryptocurrency investments.
Events Ahead:
Looking forward, the financial market anticipates key data releases and events that could impact gold’s price movement:
- Core CPI and CPI data: Scheduled for release on April 10, these figures will provide insight into inflation trends, influencing Fed rate decisions.
- FOMC Meeting Minutes: On April 10, these minutes will offer deeper insights into the Fed’s monetary policy outlook.
- Bond Auctions: The 10-year and 30-year U.S. bond auctions on April 10 and 11, respectively, will be closely watched for yield trends.
- Preliminary Consumer Sentiment and Inflation Expectations: Set for April 12, these metrics will further shape market sentiment and potentially influence gold prices.
As geopolitical tensions and economic data continue to unfold, the gold market remains a focal point for investors seeking stability in a landscape marked by uncertainty and strategic central bank actions.
With gold hovering near the $2,350 resistance level, market participants are closely monitoring these developments to predict the next significant move in gold prices.
Gold Price Forecast: Weekly Outlook
Gold’s price has risen to $2330, closing the week marking a 4.35% increase. With a pivot point set at $2316, gold shows immediate resistance levels at $2341, $2369, and $2400, while support lies at $2297, $2268, and $2242.
The RSI at 75 indicates strong buying pressure, and the 50-day EMA at $2253 confirms an upward trajectory. The technical pattern, particularly the bullish engulfing candle on the 4-hour chart, reinforces the likelihood of continued upward momentum.