Gold holds near two-month high as attention turns to US inflation data

Gold prices hovered near a two-month peak on Tuesday, helped by lower US dollar and bond yields, as investors awaited key US inflation data to gauge the Federal Reserve's next move to raise rates.

Spot gold was little changed at $1,824.15 an ounce by 06:24 GMT, about $3 less than the two-month peak reached earlier in the session. US gold futures GCv1 remained unchanged at $1,828.10.

A weak dollar and lower 10-year Treasury bond yields have kept bullion attractive.

A weaker dollar reduces the value of bullion for buyers holding other currencies, while lower yields reduce the opportunity cost of interest-free bullion.

"A rise to $1,825 could trigger a technical pattern that could push gold back into the $2,000 zone," said Geoffrey Halley, senior market analyst at OANDA.

"However, it will depend on the downward correction in the dollar persisting for longer and on the central bank keeping interest rates low for longer so as not to affect it."

The focus now is on Wednesday's Consumer Price Index inflation data, which could test the Fed's stance on rate hikes, as labour market tensions combined with global supply chain issues could lead to another inflated rate hike.

This also follows several Fed officials expressing growing concern about a longer rate hike.

But Fed Vice Chairman Richard Clarida and Chicago Fed President Charles Evans have suggested that a rate hike is not yet planned.

Thai เกี่ยวกับโบรกเกอร์ Exness experts believe gold has benefited from the near-zero interest rates introduced during the pandemic as they reduce the opportunity cost of bullion.

"I wouldn't expect anything imminent from the Fed, but a higher-than-consensus consumer price index could make market expectations for a rate hike in 2022 more likely," said Nicholas Frappell, global general manager at ABC Bullion, adding that such a scenario would be potentially negative for gold.

Spot silver fell 0.3 per cent to $24.37 an ounce. Platinum fell 0.5% to $1,050.60 and XPD on palladium = 0.8% to $2,053.71.

 

 

 

TCM believes sour tasting foods retain the Qi energy in the lungs whereas spicy foods dispel it. So as a general rule, in the autumn, you should go for sour in preference to spicy foods. Here are a couple of recipes for you to try in this season.
RICE WINE
Traditionally around September 8, the solar calendar point termed ‘White Dew’, Chinese families start making rice wine. This slightly sweet beverage is used to warm the body and to add its delicious flavour in chicken dishes and soups. It is also commonly used to add to the sweet soup that accompanies mochi rice balls. I use the Shanghai Brewer’s Biscuits (‘ Shanghai Jiu Bing Wan’ 上海酒饼丸). They are inexpensive and can be found in Chinatown in London.
1kg glutinous rice
2 Shanghai brewer’s biscuits
500ml water, boiled then allowed to cool

  • Wash and soak the rice over night.
  • Next day, steam the rice over a large muslin cloth till cooked and soft.
  • Carefully add the 500ml water into the rice, place the whole in a very clean urn and leave to cool further.
  • Crush the brewer’s yeast biscuits over the rice and press down on the rice.
  • Create a little ‘well’ in the middle of the rice, cover the urn with clingfilm and put the urn’s lid on tightly.
  • Allow it to work its magic in 2-3 days in a warm place like an airing cupboard. The fermentation process needs to be allowed to occur uninterrupted, so resist any temptation to open the urn to check on progress. A yoghurt maker or an instant pot with yoghurt making function would be perfect for this mixture at a constant 30°C .
  • When the precious wine liquid can be seen gathering in the ‘well’ is when your rice wine is ready.
  • Finally, keep the resulting home-made wine in the fridge, for drinking later or for use in cooking.

“Shanghai Brewer’s Biscuits”

teanamu chaya teahouse yeast for rice wine
CHICKEN, TOFU AND EGGPLANT HOTPOT
2-3 medium-size aubergines
450g chicken breast or thigh (skin on)
1 tsp fish sauce
1 box soft tofu
2 garlic cloves, chopped
3 salted duck eggs, boiled
2 tsp cooking oil
1 tbsp dark soy sauce
300ml chicken stock
1 tsp corn starch dissolved in 3 tsp water
1 spring onion, sliced

  • Dice the chicken and marinate in a splash of soy sauce, Chinese rice wine, cornstarch and white pepper.
  • Remove the duck egg yolk and roughly chop the egg white.
  • Dice the aubergines into cubes.
  • In a hot wok or frying pan, add 1 tsp cooking oil till smoking hot and fry the aubergine.
  • Add the garlic and fry.
  • Add a teaspoon or two of water to help cook the aubergine.
  • When the aubergine is soft and cooked, remove from wok and set aside.
  • In the same wok, add the remaining oil and fry the chicken pieces till light golden brown.
  • Add the egg white and yolk and the fish sauce and fry with the chicken till fragrant.
  • In a clay pot, add the tofu, aubergine, chicken cubes, chicken stock and all the rest of seasonings.
  • Bring to a boil for 5 minutes.
  • Add the cornstarch water to thicken the sauce.
  • Serve hot, topped with some sliced spring onions and a drizzle of glutinous rice wine.

DAIKON AND GREEN TEA BROTH
Mooli is slightly spicy. In TCM terms it has a ‘cooling’ nature. Cooking it brings out its sweetness, which helps your body to retain moisture and relieve excess internal heat. This is considered a way of nourishing your lungs.
100g grated mooli
3g Miya Senchagreen tea leaves
200ml water (for brewing the tea)
salt to taste

  • Add the mooli into a pot and add just barely enough water to cover.
  • Bring to a boil and cook till soft.
  • Season with salt.
  • Separately, brew the green tea.
  • Pour the tea on to the mooli to make this interesting and nutritious soup.

Here are a few acupuncture points you can give some TLCs for a more comfortable autumn.
FRAGRANT TEA STEAM FOR LUNGS

  • Choose a fragrant tea, if you can, like Lishan Oolong , or an mellow aromatic one like Emperor Pu Erh 1998 Vintage .
  • Add freshly boiled water to 2 or 3 grams of tea leaves in a small cereal bowl.
  • Position your face over the bowl and let yourself breathe in the steam.
  • Use your hands on the edge of the bowl to keep too much steam from escaping.
  • Enjoy this experience for 10 minutes, then you can sit up and drink the tea!
  • Don’t forget, with a good quality tea, you can keep adding more hot water and brew the tea again and again.

WARM EXTREMITIES
If you tend to have cold hands and feet all year round, there may be a blockage preventing the free flow of Qi energy in your body. For a simple way to improve this flow:

  • Fill a muslin bag, no bigger then the palm of your hand, with some unrefined rock salt.
  • Warm the bag in a microwave.
  • Lie down on your front comfortably and place the warm muslin bag on your ‘ Da Zui’ (大椎) acupuncture point. This acupuncture point is the slightly protuberant vertebra just below the back of the neck.
  • Do this as often as you can, ideally every day.
  • You can also aim the hot water flow at the same acupuncture point when you’re in the shower.

FOOT SOAK BEFORE BEDTIME
Traditional Chinese doctors believe that cold air enters the body via the feet. Hence, they encourage you to bathe your feet in warm water.

  • Soak your feet in a barely warm water.
  • Then do is very gradually add hotter water.
  • When the first drop of perspiration appears on the tip of your nose, drain away the hot water and massage your feet dry.
  • Then lie in bed with the soles of your feet facing each other.
  • Do this in as relaxed a way as you can, staying in that position for about 10 minutes.
  • This will allow your Qi energy to flow more freely via the acupuncture point that affects the kidneys.
  • After that, let yourself enjoy a night of blissful rest.

RELIEF FOR DRY COUGH
Giving TLC to your ‘ Tai Yuan ’ (太渊穴) acupuncture point is a particularly good way to relieve a dry or tickly cough.

  • The ‘ Tai Yuan’ acupuncture point is located on the underside of the wrist, below the thumb.
  • Gently massage it 10 times in a clockwise direction.
  • Then massage it 10 times anti-clockwise.
  • Do this three times.
  • Repeat daily or whenever you can.

LET’S GO PICK SOME TEAS