Gold Rises to Three Month High as Russian Missiles May Hit Poland

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Market News Gold Rises to Three Month High as Russian Missiles May Hit Poland

Markets News

Gold Rises to Three Month High as Russian Missiles May Hit Poland

TOPONE Markets Analyst

2022-11-16 19:30:00

Hot spot tracking

Ukrainian energy situation "critical" after Russian missile attack on energy infrastructure, deputy head of the Ukrainian president's office.

Power outages hit Ukraine

EDF warns that France could face power shortages this winter

Product Hot Comment

Forex

As of 17:00 (GMT+8), the U.S. dollar index fell 0.150% to 106.25, EUR/USD rose 0.377% to 1.03855; GBP/USD fell 0.022% to 1.18575; AUD/USD rose 0.145% to 0.67640; /JPY rose 0.403% to 139.832.

📝 Review:EUR/USD rose to 1.0479, its highest level since July 1, before closing up 0.21% at 1.0347. The Danish central bank said it could not rule out a further rise to 1.10 against the dollar, but only if risk appetite remained unchanged.

🕵️ Operation suggestion:go long EUR/USD at 1.03834, with a target price 1.04660.
Gold

As of 17:00 (GMT+8), spot gold fell 0.317% to $1773.17/oz, and spot silver rose 0.019% to $21.537/oz.

📝 Review:The international gold price fell slightly, but it was not far from the three-month high of $1,786.36 an ounce hit in the previous trading day. The weak dollar limited the downside of gold prices. Following reports that two people were killed in Poland by a Russian-made missile, the market awaited further clarity on the details.

🕵️ Operation suggestion:go long at 1773.07, the target price is 1792.53.
Crude Oil

As of 17:00 (GMT+8), WTI fell 0.645% to $85.623/barrel; Brent fell 0.514% to $92.543/barrel.

📝 Review:While a larger-than-expected drop in API crude inventories briefly helped oil prices rise, oil pared some overnight gains after comments from U.S. President Joe Biden that the missile launch may not have come from Russia eased fears of an imminent geopolitical escalation.

🕵️ Operation suggestion:go long at 85.623, the target price is 92.512.
Indice

As of 17:00 (GMT+8), Taiwan's weighted index fell 0.713% to 14574.4 points; the Nikkei 225 index rose 0.313% to 28056.1 points; Hong Kong's Hang Seng Index fell 0.418% to 18226.2 points; Australia's S&P/ASX200 index It rose 0.535% to 7142.95 points.

📝 Review:Taiwan stocks opened higher and fluctuated lower today. The index fell 8.96 points at the end of the day. Traditional industry stocks and financial stocks performed weakly. TSMC (2330) rose by 7 yuan, acting as the main support.

🕵️ Operation suggestion:go long Taiwan's weighted index at 14572.4, the target price is 14758.2.