{"id":4623,"date":"2026-05-22T17:14:34","date_gmt":"2026-05-22T07:14:34","guid":{"rendered":"https:\/\/www.amillex.com\/?p=4623"},"modified":"2026-05-22T17:14:35","modified_gmt":"2026-05-22T07:14:35","slug":"amillex-daily-market-commentary%ef%bd%9cmacroeconomic-expectation-game-against-policy-red-lines-gold-stabilizes-oil-retreats-awaiting-data-guidance","status":"publish","type":"post","link":"https:\/\/www.amillex.com\/fa\/2026\/05\/22\/amillex-daily-market-commentary%ef%bd%9cmacroeconomic-expectation-game-against-policy-red-lines-gold-stabilizes-oil-retreats-awaiting-data-guidance\/","title":{"rendered":"\u062a\u0641\u0633\u06cc\u0631 \u0631\u0648\u0632\u0627\u0646\u0647 \u0628\u0627\u0632\u0627\u0631 Amillex\uff5c \u0627\u0646\u062a\u0638\u0627\u0631\u0627\u062a \u06a9\u0644\u0627\u0646 \u0627\u0642\u062a\u0635\u0627\u062f\u06cc \u062f\u0631 \u062a\u0636\u0627\u062f \u0628\u0627 \u062e\u0637\u0648\u0637 \u0642\u0631\u0645\u0632 \u0633\u06cc\u0627\u0633\u062a\u200c\u06af\u0630\u0627\u0631\u06cc\u060c \u062a\u062b\u0628\u06cc\u062a \u0637\u0644\u0627\u060c \u0639\u0642\u0628\u200c\u0646\u0634\u06cc\u0646\u06cc \u0646\u0641\u062a\u060c \u062f\u0631 \u0627\u0646\u062a\u0638\u0627\u0631 \u0631\u0627\u0647\u0646\u0645\u0627\u06cc\u06cc \u062f\u0627\u062f\u0647\u200c\u0647\u0627\u00a0"},"content":{"rendered":"<p class=\"has-black-color has-text-color has-link-color wp-elements-fc8c92eb9491090d9ed921f7b25c08b3 wp-block-paragraph\" style=\"font-size:18px\">May 22, 2026, the global commodities market has entered a critical phase of volatility under the interplay of multiple macro factors. In the early Asian session on Friday, spot gold maintained a narrow consolidation around $4,541 per ounce. Although the continued rise in the probability of Federal Reserve tightening this year has imposed strong policy constraints on precious metal bulls, market expectations of progress in multilateral diplomatic negotiations have still solidified a defensive line for gold above the $4,500 level. On Wednesday, gold once surged to $4,570 intraday. Bulls and bears are expected to engage in another round of valuation testing and confrontation around the $4,600 psychological level. Although the premium has narrowed overall, solid institutional base holdings remain difficult to shake.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-66dc18a17053d0f97c0995de1e7005ad wp-block-paragraph\" style=\"font-size:18px\">In contrast, the crude oil market has shown more pronounced signs of unwinding risk premiums. As relevant parties released positive signals indicating that multilateral negotiations are progressing in the right direction, coupled with frequent media reports that a final draft agreement may emerge within hours, the previously extremely tight energy supply premium has cooled rapidly. WTI crude oil came under significant pressure on Wednesday, falling below $96 per barrel, and is currently hovering at a low level around $97.75 per barrel. In the short term, if the agreement is finalized, the oil market may further return to supply-demand fundamentals; however, before a clear trend is established, any unexpected developments will still trigger short-term shocks across the commodities market.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-text-align-center has-black-color has-text-color has-link-color wp-elements-c705fcef7e231ef4e547cd497dc65330 wp-block-paragraph\" style=\"font-size:18px\">\u0639\u0645\u0644\u06a9\u0631\u062f \u062f\u0627\u0631\u0627\u06cc\u06cc \u0648 \u062a\u062d\u0644\u06cc\u0644 \u0628\u0646\u06cc\u0627\u062f\u06cc<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ol class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-b4bcbc2581255fac34f4263136afca30\" style=\"font-size:18px\">\u0628\u0627\u0632\u0627\u0631 \u0633\u0647\u0627\u0645 \u0627\u06cc\u0627\u0644\u0627\u062a \u0645\u062a\u062d\u062f\u0647<\/li>\n<\/ol>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-e274bf516fe65a4608e450bbbd3bd732 wp-block-paragraph\" style=\"font-size:18px\">\u0639\u0645\u0644\u06a9\u0631\u062f \u0634\u0627\u062e\u0635<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-f6f5c73cc873de2614ff0b13e5662cde wp-block-paragraph\" style=\"font-size:18px\">Dow Jones Industrial Average (DJI): 50,291.02 points, up 277.03 points or 0.55% on the day. The index successfully held above the 50,000 psychological level, reflecting defensive capital rotation into traditional value and heavyweight stocks amid macro uncertainty.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-a40bf4a7cbdf60b39c05e0c36afd5459 wp-block-paragraph\" style=\"font-size:18px\">S&amp;P 500 Index (SP500): approximately 7.43K (around 7,430 points), up 79.36 points or 1.08% on the day. The S&amp;P outperformed the three major indices, as market sentiment rebounded significantly after prior consolidation, with capital undergoing systematic reallocation across sectors.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-d7385a9dffa2f05f41f113a4eeaa5956 wp-block-paragraph\" style=\"font-size:18px\">Nasdaq 100 Index (NQ1!): 29,559.75 points, up 112.50 points or 0.38% on the day. Although maintaining an upward trend in leading tech stocks, gains lagged the S&amp;P and Dow, reflecting some resistance in high-valuation growth stocks under current interest rate expectation dynamics.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-3aa3d05a5c11e7d3a97e0229ad763d88 wp-block-paragraph\" style=\"font-size:18px\">\u0646\u06a9\u0627\u062a \u0628\u0631\u062c\u0633\u062a\u0647 \u0633\u0647\u0627\u0645 \u0627\u0646\u0641\u0631\u0627\u062f\u06cc<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-79e558100e6fce8fe4568d3e3bdf85d2 wp-block-paragraph\" style=\"font-size:18px\">Apple (AAPL): $304.99, up 0.91% on the day. The stock successfully broke above the $300 level, showing resilience among large-cap tech stocks, with capital preference for core liquidity assets providing solid support.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-a91a1c436d344d982d596f35167dc67d wp-block-paragraph\" style=\"font-size:18px\">Amazon (AMZN): $268.46, up 1.30% on the day. Outperforming the broader tech sector, reflecting expectations of consumer recovery and continued strength in cloud business fundamentals.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-33c0759985ced3d7da4e7eaa9467c8eb wp-block-paragraph\" style=\"font-size:18px\">Tesla (TSLA): $417.85, up slightly 0.14%. Trading in a narrow consolidation range at high levels, with bulls and bears locked in a tug-of-war around the $420 level.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-9a4a6caa1f3f07ba01ea4977ff6bbf9c wp-block-paragraph\" style=\"font-size:18px\">Google (GOOG): $387.66, down 0.32%; Intel (INTC): $118.50, down 0.39%. Divergence within tech stocks as some AI and semiconductor core assets experienced short-term profit-taking after consecutive gains.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ol start=\"2\" class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-3ff1d672eecadfdc883384e48b323fc3\" style=\"font-size:18px\">\u0628\u0627\u0632\u0627\u0631 \u0627\u0631\u0632 \u062e\u0627\u0631\u062c\u06cc<\/li>\n<\/ol>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-df6a586d3f38a6b43e58fc7fa63adb29 wp-block-paragraph\" style=\"font-size:18px\">U.S. Dollar Index (DXY): 99.237, up 0.05% on the day. The index remains in high-level consolidation above the 99 mark. The market is pricing in the \u201chigher for longer\u201d macro narrative, with sticky inflation expectations constraining the Federal Reserve\u2019s rate cut path, supporting dollar strength.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-a9c9030132b66b2abed40c9a5bc27bcd wp-block-paragraph\" style=\"font-size:18px\">USD\/JPY: 159.066, up 0.05% on the day. The pair is again approaching the key psychological level of 160. Despite verbal intervention risks from the Bank of Japan, carry trade momentum remains intact amid historically wide U.S.-Japan yield differentials, leaving depreciation pressure on the yen unresolved.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-29028d8569c0563682114d1c0f6aae9c wp-block-paragraph\" style=\"font-size:18px\">EUR\/USD: 1.16143, down 0.02% on the day. Constrained by dollar strength and weak economic momentum in the eurozone, the pair continues to consolidate at low levels around 1.16.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ol start=\"3\" class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-0701030148aec02b23f5c401f1b93ed1\" style=\"font-size:18px\">Precious Metals and Commodities<\/li>\n<\/ol>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-e103e90e7668002c9687b0d893140279 wp-block-paragraph\" style=\"font-size:18px\">\u0641\u0644\u0632\u0627\u062a \u06af\u0631\u0627\u0646\u0628\u0647\u0627<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-4c65224d0d084d15eb00788c33922788 wp-block-paragraph\" style=\"font-size:18px\">Spot Gold (XAUUSD): $4,532.24 per ounce, down $10.76 or 0.24% on the day. After reaching record highs, gold is consolidating at elevated levels with slight pullbacks. A strong dollar and high real interest rates are exerting technical pressure on the non-yielding asset, while geopolitical uncertainty continues to provide downside support.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-719d4b7c8c3722b6c49e6895e0a9bced wp-block-paragraph\" style=\"font-size:18px\">Spot Silver (XAGUSD): $76.4305 per ounce, down 0.31% on the day. Silver volatility remains higher than gold. As safe-haven sentiment temporarily eases and industrial demand expectations are reassessed, silver is consolidating above the $76 level.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-c85bf1352134ba704677e7a7b0637066 wp-block-paragraph\" style=\"font-size:18px\">Energy and Commodities<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-552787a05e92b8e3fe1623ee96edcff0 wp-block-paragraph\" style=\"font-size:18px\">WTI Crude Oil (XTIUSD): approximately $100.99 per barrel, down 0.40 or 0.39% on the day. Oil remains in high-level consolidation after breaking above the $100 mark. Despite a slight technical pullback, potential disruptions in Middle East supply chains and geopolitical risk premiums continue to keep bullish sentiment sensitive in the short term.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ol start=\"4\" class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-123af40855cd583dcf118afcb1be9254\" style=\"font-size:18px\">\u062f\u0627\u0631\u0627\u06cc\u06cc\u200c\u0647\u0627\u06cc \u0631\u0645\u0632\u0646\u06af\u0627\u0631\u06cc\u200c\u0634\u062f\u0647 \u0648 \u067e\u0648\u06cc\u0627\u06cc\u06cc\u200c\u0647\u0627\u06cc \u06a9\u0644\u0627\u0646<\/li>\n<\/ol>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-e3e16e630685dce37a2a4efab96c15da wp-block-paragraph\" style=\"font-size:18px\">Bitcoin (BTCUSD): $77,415, down $139 or 0.18% on the day. Bitcoin continues to trade in a narrow range below the $80,000 level. As global liquidity expectations tighten, crypto assets\u2019 risk-on nature becomes more evident, slowing short-term capital inflows, with bulls and bears rotating positions within the current range.<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-479fc924ffaa2f5b8be42a563df5fa60 wp-block-paragraph\" style=\"font-size:18px\">Ethereum (ETHUSD): $2,129.11, down 2.85 or 0.13% on the day. Ethereum slightly underperforms the broader market, seeking technical support around the key $2,100 pivot level, reflecting capital rotation toward more certain traditional hard assets and large-cap instruments in a risk-averse environment.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ol start=\"5\" class=\"wp-block-list\">\n<li class=\"has-black-color has-text-color has-link-color wp-elements-36e0a2f3d633fd0ea4cc2d175dfeac84\" style=\"font-size:18px\">\u062a\u0645\u0631\u06a9\u0632 \u0627\u0645\u0631\u0648\u0632<\/li>\n<\/ol>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-9dde5c43f4c342ece40ddbd2ff7c8fe4 wp-block-paragraph\" style=\"font-size:18px\">UK April Retail Sales MoM<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-fb0745e5baf54ca85764497dfc5c687f wp-block-paragraph\" style=\"font-size:18px\">Canada March Core Retail Sales MoM<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-828b05c3a0a1d6fb2a9a3af267f54801 wp-block-paragraph\" style=\"font-size:18px\">Canada March Retail Sales MoM<\/p>\n\n\n\n<p class=\"has-black-color has-text-color has-link-color wp-elements-d7bcccb4a88862f7364c126ead59a245 wp-block-paragraph\" style=\"font-size:18px\">United States May University of Michigan Consumer Sentiment Final Index<\/p>","protected":false},"excerpt":{"rendered":"<p>May 22, 2026, the global commodities market has entered a critical phase of volatility under the interplay of multiple macro factors. In the early Asian session on Friday, spot gold maintained a narrow consolidation around $4,541 per ounce. Although the continued rise in the probability of Federal Reserve tightening this year has imposed strong policy [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":4621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[8],"tags":[],"class_list":["post-4623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news","entry","has-media"],"_links":{"self":[{"href":"https:\/\/www.amillex.com\/fa\/wp-json\/wp\/v2\/posts\/4623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.amillex.com\/fa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.amillex.com\/fa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fa\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fa\/wp-json\/wp\/v2\/comments?post=4623"}],"version-history":[{"count":1,"href":"https:\/\/www.amillex.com\/fa\/wp-json\/wp\/v2\/posts\/4623\/revisions"}],"predecessor-version":[{"id":4624,"href":"https:\/\/www.amillex.com\/fa\/wp-json\/wp\/v2\/posts\/4623\/revisions\/4624"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/fa\/wp-json\/wp\/v2\/media\/4621"}],"wp:attachment":[{"href":"https:\/\/www.amillex.com\/fa\/wp-json\/wp\/v2\/media?parent=4623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amillex.com\/fa\/wp-json\/wp\/v2\/categories?post=4623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amillex.com\/fa\/wp-json\/wp\/v2\/tags?post=4623"}],"curies":[{"name":"\u0648\u0631\u062f\u067e\u0631\u0633","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}