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January 31 - According to the China Railway 12306 Technology Center, since the Spring Festival travel rush train tickets went on sale on January 19, as of 11:00 AM on January 31, the railway department has sold a total of 51.02 million tickets.On January 31, Chen Jining, Secretary of the Shanghai Municipal Committee of the CPC, pointed out during a research visit this morning (January 31) to promote consumption through the integration of culture, tourism, commerce, sports, and exhibitions that it is necessary to thoroughly study and implement the spirit of the Fourth Plenary Session of the 20th CPC Central Committee and the important speech delivered by General Secretary Xi Jinping during his inspection of Shanghai. He stressed the need to consistently focus on the deep integration of culture, tourism, commerce, sports, and exhibitions, using major festivals such as the Spring Festival as important levers to better grasp consumption trends, innovate consumption formats, enrich consumption scenarios, and lead the forefront of consumption, continuously amplifying the brand effect of "Shanghai Consumption" and promoting the construction of an international consumption center city to a deeper and more practical level.The U.S. Securities and Exchange Commission (SEC) has announced that due to the lack of funding and the (partial) government shutdown, it is currently operating according to its planned procedures during the shutdown. From January 31, 2026, until further notice, only a very small number of staff will continue to operate.January 31st - According to Xiongan Customs, the total import and export value of Xiongan New Area will reach 71.95 billion yuan in 2025, an increase of 18.9 times year-on-year. Exports will reach 11.38 billion yuan, an increase of 283.9% year-on-year; imports will reach 60.57 billion yuan, an increase of 8979.2% year-on-year.January 31st - Recently, Unit 2 of the support unit project for the Lingang Heavy-Duty Gas Turbine Test Power Plant successfully completed 168 hours of full-load trial operation, marking the full commissioning of the support unit project. The Lingang Heavy-Duty Gas Turbine Test Power Plant project is a major national "Two Engines" project. The support unit project follows the national strategy of relying on independent research and development while extensively engaging in international cooperation. It utilizes mature F-class and H-class commercial units on the market for technological breakthroughs and demonstrations. The support unit project is equipped with one 500 MW F-class unit (Unit 1) and one 670 MW H-class unit (Unit 2) combined cycle unit.

Forecast for Gold Price: XAU/USD bulls want confirmation from $1,905

Daniel Rogers

Feb 06, 2023 15:36

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Gold price (XAU/USD) recovers from monthly low, grinding higher at intraday highs near $1,878 as the European session begins on Monday. In doing so, the yellow metal reverses a two-day slump in the face of a sluggish US Dollar, negative sentiment, and aggressive Fed sentiment.

 

The positive US jobs report and ISM Services PMI on Friday rekindled speculation that the Federal Reserve (Fed) had leeway to raise interest rates. However, the US shooting of a Chinese balloon and the cancellation of US Secretary of State Antony Blinken's visit to Beijing weigh on the market's risk profile. In the same vein, China warned not to exacerbate the delicate situation and described the incident as a "obvious overreaction."

 

The US Dollar Index (DXY) stays passive despite a comeback in US Treasury bond yields and slight losses in stock futures. The cause may be the DXY bull's hesitation ahead of Fed Chair Jerome Powell's speech on Tuesday.