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On March 15, the Israel Defense Forces (IDF) issued a statement saying that it continued its strikes against ballistic missile and drone systems in western and central Iran. The statement indicated that the IDF, based on intelligence, struck a drone launch team inside a hangar in western Iran. The statement also said that since the start of the current conflict, Israel has struck hundreds of air defense systems, ballistic missile launchers, and related infrastructure in Iran.Danish Prime Minister: I am very grateful for Canadas support when the US pressured Greenland.March 15th - According to the Ministry of Emergency Management, while the overall national work safety situation has remained stable this year, several major accidents with fatalities have occurred recently. On March 13th, an accident at an auto parts company in Zhaoqing, Guangdong, resulted in 3 deaths and 4 injuries; on March 14th, a fire at a self-built house in Meizhou, Guangdong, resulted in 3 deaths and 2 injuries; on the same day, a rock climber fell near Yanlie Mountain in Jiujiang, Jiangxi, resulting in 3 deaths; and on March 15th, a mechanical injury accident at an auto parts company in Yantai, Shandong, resulted in 3 deaths. On March 15th, the State Councils Work Safety Committee Office decided to supervise the investigation of these four accidents, requiring relevant local authorities to conduct investigations at a higher level according to the principle of "four no-tolerance" (no letting go of any aspect of the accident investigation), and to hold those responsible accountable according to law and regulations. An emergency notice was also issued regarding recent major accidents, requiring lessons to be learned from these incidents, resolutely preventing and curbing major accidents, effectively preventing a resurgence of serious and dangerous accidents, and ensuring the continued stability of the national work safety situation.The Nordic countries and Canada issued a joint statement announcing their commitment to enhancing their defense industry capabilities in order to accelerate the production of defense products and strengthen combat capabilities.The Nordic countries and Canada issued a joint statement announcing that they will continue to provide economic, civilian, military, and humanitarian assistance to Ukraine.

Fed Statements Restrict Gold Price Increases After A Fall

Haiden Holmes

Nov 22, 2022 14:55

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On Tuesday, gold prices rose, but remained at two-week lows as hawkish comments from some Federal Reserve members strengthened the dollar, while platinum prices jumped in anticipation of a potential supply shortage next year.


On Monday, metal markets fell in tandem with other asset classes as investors panicked about the possibility of a worldwide recession caused by increasing interest rates. Moreover, fears over future COVID-related restrictions reduced mood. However, this allowed for the discounted purchase of certain metals.


Spot gold jumped 0.3% to $1,740.98 per ounce around 20:25 E.T., while gold futures advanced 0.1% to $1,742.50 per ounce (01:25 GMT). Monday showed a roughly 0.8% decrease for both assets.


Monday, Mary Daly, president of the Federal Reserve Bank of San Francisco, noted that there was more work to be done to tighten monetary policy and decrease inflation, and that the real-world impact of recent rate rises will likely be more than implied by the short-term target rate.


Loretta Mester, president of the Federal Reserve Bank of Cleveland, has suggested that she supports a smaller rate hike in December, in keeping with market expectations for a 50 basis point basis point increase.


However, both Fed governors indicated that future rate increases will be substantially dependent on U.S. economic data, particularly the inflation trajectory.


As the prospective cost of holding non-yielding assets surged this year, a series of sudden interest rate rises had a disproportionately negative effect on metal markets.


In recent weeks, as markets have braced for a smaller rate rise in December, gold's 2017 losses have been significantly reduced. However, given that inflation is far above the Fed's 2% target, investors are also assessing the possibility that the central bank may continue to hike interest rates for a much longer amount of time than expected.


This situation is negative for gold and the whole metals market. The release of the Federal Reserve's November meeting minutes on Thursday will give fresh insight into U.S. monetary policy.


After the World Platinum Investment Council declared on Tuesday that it expected a shortage of the metal in 2023, the price of platinum futures rose by around 1 percent.


The valuable metal serves a variety of purposes, including automotive exhausts, industrial applications, and jewelry.


Among industrial metals, copper prices rose on Tuesday, following recent severe losses.


Tuesday's 0.8% climb to $3.6075 per pound in copper futures followed Monday's 1.6% fall. New COVID lockdowns in China have significantly lowered the outlook for the red metal, which is anticipated to weigh on demand.

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