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On December 21, the French presidential palace stated that it would determine the "best way" for French President Macron to hold dialogue with Russian President Putin "in the coming days." The French presidential palace welcomed Russias statement that Putin was willing to engage in dialogue with Macron, and that France believed the aim of such dialogue was to achieve a "stable and lasting peace," and that the content would be "transparent" to Ukraine and Europe.December 21 - According to a report released by the Indonesian Meteorology, Climatology and Geophysics Agency, a 5.6-magnitude earthquake struck off the coast of North Maluku province, Indonesia, at 19:21 local time on December 21. The epicenter was located at 1.47 degrees north latitude and 126.34 degrees east longitude, with a focal depth of 27 kilometers.December 21 - On December 21, MiniMax, a general artificial intelligence company, published its post-hearing information set prospectus for the first time.On December 21, Russian Presidential Aide Ushakov told the media that the proposal to hold trilateral talks between Russia, the United States, and Ukraine has not yet been put on the agenda or discussed. He also pointed out that the modifications proposed by Ukraine and Europe to the Russia-Ukraine "peace plan" are not conducive to advancing the agreement. Ushakov confirmed that Russias Special Representative for Foreign Investment and Economic Cooperation, Dmitriev, is currently in Miami holding talks with the US. He revealed that Dmitriev will report on the results of the talks with the US after returning to Moscow. On the same day, Russian Presidential Press Secretary Peskov told the media that President Putin has no plans to speak with US President Trump before the end of the year, but arranging a call would be easy.On December 21st, according to Japanese sources, during a debate program, Itsunori Onodera, chairman of the Liberal Democratic Partys (LDP) Security Research Council, proposed that it is necessary to discuss the definition of the "Three Non-Nuclear Principles." He discussed Japans current reliance on the US "nuclear umbrella," stating, "This is one of the issues that should be discussed." Onodera said the LDP plans to submit a related motion to the Cabinet in February next year to promote discussion in the Diet. The "Three Non-Nuclear Principles" refer to not possessing, manufacturing, or introducing nuclear weapons. Recently, several political parties, politicians, and numerous civic organizations in Japan have called for adherence to the "Three Non-Nuclear Principles" to avoid a repeat of the tragedy of war.

Copper declined because of economic concerns, while gold traded near $1,650

Aria Thomas

Oct 25, 2022 14:14

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On Tuesday, gold prices were under pressure near important support levels as the dollar rallied from recent losses, while copper prices sustained recent drops amidst rising concerns about a slowdown in global economic growth.


Spot gold prices rose 0.2% to $1,652.10 per ounce by 19:23 ET, while December gold futures also rose 0.2%. (23:23 GMT). Gold prices decreased by 0.6% on Monday as the dollar recouped previous losses.


Despite increasing uncertainty surrounding the future course of U.S. monetary policy, gold and the U.S. dollar remained within the limited trading ranges recorded in the previous weeks. While forecasts of a probable dovish turn by the Federal Reserve boosted gold prices slightly last week, markets continue to price in a nearly 100 percent chance of a 75 basis point rate hike by the Fed in November.


After three consecutive days of decline, the dollar stabilized on Monday, as U.S. Treasury yields remained close to their highest levels since the 2008 financial crisis.


Rising U.S. interest rates weighed heavily on gold this year, as the prospective cost of holding the yellow metal rose. This year, gold's appeal as a safe haven and inflation hedge has diminished significantly.


In the foreseeable future, bullion prices are projected to be under pressure as a result of rising U.S. interest rates.


Copper prices were subdued on Tuesday after plummeting in the previous session, as a series of dismal economic indicators posted on Monday signaled a bleak outlook for global copper demand.


Copper futures stayed unchanged at $3.4325 per pound after falling 1.4% in the prior session.


Even though China's copper imports surged in September due to increasing infrastructure spending in recent months, markets remained cautious due to the country's recent political turmoil.


President Xi Jinping's consolidation of power at the National Congress sparked fears of a new assault on the country's wealthiest enterprises and businessmen, which precipitated a disastrous sell-off in Chinese markets.


China's third-quarter GDP figures beat analyst forecasts, but fell far short of the Communist Party's target.


Copper's outlook remains bleak as a result of Jinping's desire to maintain the economically damaging zero-COVID policy, which also fueled concerns about China's growth prospects.


Due to the worldwide economic slump, the red metal is also experiencing considerable difficulties. The economic superpower certainly contracted in the third quarter, according to weak data from the Eurozone.

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