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According to the Islamic Republic News Agency (IRNA), Iranian Parliament Speaker Qassem Ghalibaf stated that the United States and Israel have failed to achieve any of their objectives in the war. All parties have now concluded that the military operation against Iran has failed.The State Administration for Market Regulation announced that in June 2026, a total of 7 automobile manufacturers filed recall plans with the State Administration for Market Regulation, announcing the recall of a total of 41,800 vehicles.Rengo, Japans largest labor union, said on Friday that Japanese companies have agreed to wage increases of more than 5% for the third consecutive year, indicating that continued wage growth is gradually becoming a stabilizing trend supporting the worlds fourth-largest economy. The union, which has 7 million members, said the final results of the annual labor-management negotiations showed that Japanese companies agreed to an average wage increase of 5.01% this year. The average wage increase for Japanese companies was 5.25% last year and 5.10% the year before. Kazutaka Maeda, an economist at Meiji Yasuda Research Institute, said that the positive outcome of the labor-management negotiations, coupled with the positive turn in real wage growth in recent months, "should boost consumer spending and strengthen the case for the Bank of Japan to continue its gradual interest rate hike path." Analysts expect that robust corporate profits and a severe labor shortage will maintain the upward trend in wages, with many predicting similar wage increases next year.July 3rd - According to data from the China Passenger Car Association (CPCA), preliminary statistics show that from June 1st to 30th, the national passenger car market saw retail sales of 1.037 million new energy vehicles, a 7% decrease year-on-year but a 9% increase compared to the same period last month. The cumulative retail sales this year reached 4.734 million vehicles, a 13% decrease year-on-year. From June 1st to 30th, national passenger car manufacturers wholesaled 1.506 million new energy vehicles, a 22% increase year-on-year and an 11% increase compared to the same period last month. The cumulative wholesale sales this year reached 6.812 million vehicles, a 6% increase year-on-year.July 3rd - According to data from the China Passenger Car Association (CPCA), preliminary statistics show that from June 1st to 30th, the national passenger car market retail sales reached 1.651 million units, a 21% decrease compared to the same period last year, but a 9% increase compared to the same period last month. The cumulative retail sales this year are 8.75 million units, a 20% decrease year-on-year. From June 1st to 30th, national passenger car manufacturers wholesaled 2.376 million units, a 4% decrease compared to the same period last year, but a 7% increase compared to the same period last month. The cumulative wholesale sales this year are 12.562 million units, a 5% decrease year-on-year.

Fed Minutes Suggest Slower Rate Hikes, Which Boosts Gold Prices

Charlie Brooks

Jan 05, 2023 11:23

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The Federal Reserve's December meeting minutes showed that officials favored raising interest rates at a slower pace, easing metal markets hit by rising borrowing costs. Gold prices hit a seven-month high Thursday.


The possibility of fewer interest rate hikes by the Federal Reserve weighed on the dollar, encouraging more bets that the currency peaked in 2022 and will continue to fall. After the minutes were disclosed, Treasury rates dropped.


The Fed minutes showed that officials are hyper-focused on controlling inflation and want to keep interest rates high for a long time. This may limit metal market gains.


Spot gold rose to $1,855.45 per ounce, while gold futures remained constant at $1,860.80 per ounce as of 19:26 ET (00:26 GMT). Both assets have gained over 2% in the last two days.


Bullion prices rose after the IMF warned that the world's leading countries could endure a recession in 2023.


Metal markets fell as the global economy slowed. After a poor start to the year, copper prices fell for a third day.


Copper futures declined 0.1% in early Asian trading to $3.7412 per pound, down about 2% since 2022.


Uncertainty about China's economic openness weighed on the red metal as the world's largest copper importer faced a COVID-19 outbreak.


Copper demand is expected to surge once the Chinese economy reopens, but prices will be volatile as the timeframe is uncertain.


Other big economies' slowing growth also pressured for industrial metals. The U.S. manufacturing sector dropped for the second consecutive month in December, according to data released Wednesday.


Nickel prices plummeted 6% after the U.S. reading, while platinum and silver prices also declined.

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