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Italys preliminary CPI monthly rate for July was 0.2%, below the expected 0.30% and the previous value of 0.00%.Italys preliminary harmonized CPI annual rate for July was 2.9%, below the expected 2.8% and the previous reading of 3.00%.The Eurozones preliminary July CPI figure was 0.2%, below the expected 0.10% and the previous reading of -0.10%.On July 31st, the Beijing Economic-Technological Development Area (BDA) held a "Creating the Future for Enterprises" themed event – the Beijing Yizhuang Commercial Aerospace Open Day – which was attended by nearly 100 companies from the upstream and downstream industrial chains of commercial aerospace and financial institutions. At the event, the BDA Robotics and Intelligent Manufacturing Industry Bureau, the China Aerospace Standardization and Product Assurance Research Institute, and JD Industry signed a memorandum of understanding to jointly build and operate the nations first commercial aerospace product reliability platform – the Beijing Rocket Street Commercial Aerospace Product Reliability Platform. According to reports, the Beijing Rocket Street Commercial Aerospace Product Reliability Platform, coordinated and deployed by the BDA, will be officially launched soon, aiming to provide commercial aerospace companies with a full-chain digital and intelligent supply chain service, from supplier selection and recommendation, quality risk screening to genuine product assurance and intelligent fulfillment.The Eurozones preliminary July CPI annual rate was 2.9%, below the expected 2.90% and the previous reading of 2.80%.

International gold prices still look at US$1,727

Oct 26, 2021 10:59

On Thursday (October 7), international gold prices continue to be under pressure, and the market outlook is still looking at $1,727. However, the weak upside of the U.S. index limited the decline in gold prices. Investors turned to wait and see before the US non-farm payrolls report was released, and it is expected that the report will provide clues to the Fed's reduction schedule.

At 14:20 GMT+8, spot gold fell 0.11% to US$1760.81 per ounce; the main COMEX gold contract fell 0.03% to US$1761.2 per ounce; the US dollar index fell 0.01% to 94.218.


Investors turned to the US non-agricultural employment data to be released on Friday (October 8), which is expected to show an improvement in the labor market, which is an important criterion for the Fed to begin to reduce support measures during the epidemic. Data released overnight showed that private employment in the United States increased strongly in September.

Bob Haberkorn, senior market strategist at RJO Futures, said: “Gold’s hedging appeal is not as attractive as other safe assets, and its performance largely depends on US non-agricultural employment data. Prior to this, the price of gold may be trending sideways.”

Fu Xiao, director of the Commodity Strategy Department of BOC International, said that even though the non-agricultural employment data is “not beautiful, but just in line with expectations,” some Fed members have believed that the conditions for reducing debt purchases have been met, which has put pressure on gold.

On the daily chart, the price of gold has started a three-wave downward trend from US$1770. The support below looks to the 23.6% target of US$1744 and the 38.2% target of US$1727. Wave 3 is a sub-wave of the downward (3) wave that started at $1834. (3) Wave is a sub-wave of the downward ((Y)) wave that started from 1917 USD. The ((Y)) wave belongs to the adjusted IV wave that started at $2,075.

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