Gold Poised for $1,900 Strike
P = $1,852.10 +17.3
A = $1,869.40 +2.99%
*Gold bucked the global markets selloff triggered by China’s crypto-crackdown on Wednesday, advancing toward the key bullish level of $1,900 as risk-averse investors took cover in safe havens that included the yellow metal.
*Gold turned around, recapturing the momentum, daily low of just under $1,782 on May 6 to a session high of just above $1,891 on Wednesday.
WTI Plunges In A Test Of The Bull’s Strength
WTI- $63.36 (-2.13)
BRENT-$66.66 (-2.05)
-WTI plunged from highs of $65.33 to reach a low of $61.98 on the day. Furthermore, worries over the surging inflation anticipations would be expected to compel the Fed’s hand to slow the American economic growth with interest rate hikes which, in turn, would dent the oil market.
-As per Iran Nuclear they need more time to make deal with U.S. reason for Oil prices to go down.
Bitcoin Pizza Initiative Launched
P: $ 42,975.9
A:$ 39,496.2 -3479.7 -8.10%
Anthony “Pomp” Pompliano, the known cryptocurrency influencer, launched a new endeavor called Bitcoin Pizza. The business objective is to remember the now mythical purchase that Lazlo Hanyecz made 11 years ago, while helping the bitcoin developer community at the same time. The initiative includes bitcoin users, local businesses in 10 different U.S. cities, and custom packaging to create a new brand for this purpose.
- Markets to Watch This Week: Nasdaq 100, US Dollar,BoJ and more
- Market Week Ahead: Inflation Data, Bitcoin, Powell Testimony, and more
- Market Week Ahead: Monetary Policy Meeting, Retail Sales, etc.
- Markets Week Ahead: Nasdaq 100, US Dollar, Gold, Euro, British Pound, Fed and more
- Market Week Ahead: Omicron Concerns, Inflation Data, Crypto
