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.
- Market Week Ahead: BoE Rate Decision, Fed Risk, PMIs
- Gold at Monthly Low while Bitcoin Remains Positive
- Market Week Ahead: Fed Speech, Central Bank and Oil Futures
- Gold Back Above $1,900 as Dollar, Yields Soften; S&P and Dow Jones Update
- Market Week Ahead: Central Banks and Inflation; NFP Results
