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Golden Ten Data reported on April 23 that, amid supply shortages caused by the conflict between the United States, Israel, and Iran, Pakistan LNG has issued its first spot LNG (liquefied natural gas) tender notice since December 2023. According to the announcement released on Thursday, the company is seeking quotations from international suppliers to purchase three cargoes of LNG, each about 140,000 cubic meters; delivery periods are April 27-30, May 1-7, and May 8-14, with deliveries at Port Qasim in Karachi. The tender closes on April 24. The Pakistani Federal Minister for Energy stated that this LNG tender aims to meet the growing electricity demand and reduce reliance on more expensive diesel and fuel oil. This tender also serves as a response to last week's large-scale blackout caused by power shortages.

1. Spot gold is currently trading near the lower boundary of an upward-sloping parallel channel, with the short-term tone broadly neutral. The Relative Strength Index (RSI) hovers around 39, leaning toward the lower end of its range, suggesting that bullish momentum is weakening but has not yet entered oversold territory. The MACD indicator remains in negative territory, reinforcing the view that attempts to move higher may be difficult to sustain before momentum improves.2. If the gold price clearly breaks below the channel support at around $4,691, it will test the previous structural bottom at around $4,568; if the sell-off accelerates, it will pave the way for a deeper decline.3. On the upside, bulls need to consistently break through the channel resistance at around $4,926 to restore a broader uptrend and open up further upside potential.

On April 23, MFS Investment Management analyst Carl Ang stated that the Bank of Japan is expected to keep interest rates unchanged at 0.75% during next week's meeting while expressing a hawkish stance. 'Given the Bank of Japan's dual mandate to maintain price stability and financial stability, and the fact that a weak yen often leads to rising consumer prices, we expect the bank to focus on the issue of yen weakness,' Ang said. The analyst also added that although the USD/JPY exchange rate has been holding well below the resistance level of 160 yen, the market liquidity typically decreases during the 'Golden Week' holiday that follows the Bank of Japan meeting. This low liquidity environment may provide an opportunity for the government to implement currency intervention, potentially triggering a rapid appreciation of the yen within the range of 150 to 160.