Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Octa trading broker
Open trading account
Back

Gold Price Forecast: XAU/USD drifts higher to $2,020 amid Middle East tension

  • Gold price gains ground near $2,025 amid the ongoing tension in the Middle East.
  • The US Core PCE gauge registered its lowest level since March 2021, coming in at 2.9% YoY in December vs. 3.2% prior.
  • The rising tension in the Middle East might boost the price of gold, a traditional safe-haven asset.
  • Traders will closely monitor the Federal Open Market Committee (FOMC) meeting on Wednesday.

Gold price snaps the two-week losing streak during the early Asian session on Monday. The escalating tension in the Middle East boosts the safe-haven demand, which lifts the yellow metal. The spotlight this week will be the Federal Open Market Committee (FOMC) meeting on Wednesday, which is expected to keep rates at 5.25–5.50%. At press time, the gold price is trading at $2,025, gaining 0.33% on the day.

The Personal Consumption Expenditures Price Index (PCE) came in at 0.2% MoM and 2.6% YoY in December, according to Commerce Department data released Friday. The core PCE figure, excluding energy and food, rose 2.9% annually, a slower pace than the 3.2% rate seen in November. The core PCE gauge registered its lowest level since March 2021.

The markets anticipate the Federal Reserve (Fed) to keep rates steady at 5.25–5.50% at its January meeting on Wednesday. Traders will take more cues from the press conference. If Fed Chairman Jerome Powell signals a possible rate cut in March, this could exert some selling pressure on the Greenback.

Three US troops were killed and dozens injured after an unmanned aerial drone attack on US forces stationed in northeastern Jordan near the Syrian border, US officials said on Sunday. The rising tension in the Middle East might boost a safe-haven asset like gold.

Looking ahead, the FOMC meeting on Wednesday will be the highlight of this week ahead of the Bank of England (BoE) interest rate decision on Thursday. These events could give a clear direction to the gold price.

 

New Zealand Trade Balance arrives at -$13.57B YoY in December vs. $-13.90B prior

New Zealand’s Trade Balance came in at $-13.57B YoY in December versus $-13.90B prior, according to the latest data released by Statistics New Zealand on Monday.
Read more Previous

Ireland Consumer Confidence climbed from previous 62.4 to 74.2 in January

Ireland Consumer Confidence climbed from previous 62.4 to 74.2 in January
Read more Next