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On July 6, the new South Korean Prime Minister Kim Min-seok hosted the first high-level party-government consultation meeting of the Lee Jae-myung government at the Prime Ministers Residence in Samcheong-dong, Jongno-gu, Seoul on the afternoon of the 6th. He pointed out that the current government was born in the "Light Revolution" and there is no handover committee, nor a policy adjustment period. The current cabinet is still under construction. In order to promote national recovery, the government and the ruling party should work together and go all out with the belief of saving the country and the people.Qatar set the August shipping price of marine crude oil at a premium of $1.40 per barrel over the Oman/Dubai average price; the shipping price of land crude oil was set at a premium of $1.30 per barrel over the Oman/Dubai average price.July 6th news, NIO CEO Li Bin said on the morning of July 6th that NIO is the only automobile company in the world listed in three places. NIO’s financial report counts R&D investment as current expenses, and the money is lost in the open, and the balance sheet is very clean.On July 6, analysts believe that it is not easy to create a third party that can challenge the "two-party system" in the United States. It may take years to resolve legal and economic difficulties. A senior election lawyer said that the qualifications of new political parties that want to run for election are different in different states in the United States. Take California as an example. If a new party wants to appear on the states ballot, it must absorb and maintain at least 0.33% of the states voters as members of the party, or collect signatures from 1.1 million voters. In order to obtain national recognition, the new party also needs to be recognized by the Federal Election Commission, which will almost certainly be strongly opposed by the Democratic and Republican parties. In addition to time and legal issues, the preparation of campaign funds is also a major problem. Lee Goodman, former chairman of the Federal Election Commission, said that Musk may need thousands of donors to jointly fund his party. In fact, in addition to the two major parties, the Democratic Party and the Republican Party, the United States also has political parties including the Green Party and the Libertarian Party, but the latter two cannot shake the status of the two major parties at all.July 6, according to a report by Russias Lenta.net on July 6, the United States will provide Ukraine with hundreds of thousands of drones under special conditions this year. Ukrainian President Zelensky revealed on the "Telegram" social platform that the United States is expected to provide more drones starting in 2026. Zelensky said: "Regarding drones, Ukraine has reached an agreement with the United States to significantly increase cooperation. This will enable Ukraine to obtain hundreds of thousands of drones under special conditions this year, and more drones next year." He said that Kievs main priority is to intercept drones, and Washington will also provide Ukraine with such drones.

Copper Is Bullish As Gold Hovers Around $1,880 Before U.S. CPI News

Skylar Williams

Jan 12, 2023 11:23

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On Thursday, gold prices hovered near an eight-month high as markets prepared for U.S. inflation data expected to fall further, while copper prices rose to a seven-month high due to rising optimism about China.


The U.S. consumer price index inflation numbers released later in the day are expected to show that inflation declined more in December than in November, requiring the Federal Reserve to take fewer hawkish actions after a rapid interest rate increase through 2022.


As high interest rates on non-yielding assets ease, bullion prices should rise. Lower inflation may force the Fed to suspend rate hikes, according to markets.


At 19:06 E.T., spot gold was constant at $1,876.41, while gold futures were muted at $1,879.50. (00:06 GMT). After a strong start, both assets traded at eight-month highs.


Gold prices rose due to fears of a recession and bets that the currency had peaked.


Gold has risen since 2022, but U.S. interest rates are at their highest since the 2008 financial crisis. This and the volatility of U.S. interest rate peaks will limit gold's near-term price appreciation.


December inflation is expected to drop but remain over the Fed's yearly target. Fed policymakers worry that interest rates may stay high for a long time, pressuring metal prices.


On Thursday, industrial metals like copper fell below their mid-June highs. Due to confidence about China's economic revival, the red metal has risen almost 10% this year.


Early Asian copper prices fell 0.1% to $4.1730 per pound. As Peru, the second-largest copper producer in the world, confronts greater political instability, the metal is expected to benefit from tighter supply.


China, the world's largest copper importer, reopened its borders this week after three years. COVID-19 instances have skyrocketed, clouding the nation's economic outlook.

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