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According to Irans Tasnim News Agency, Saudi-led coalition warplanes carried out four airstrikes in Saada, Yemen.Market news: Officials say the UK Reform Party will face a criminal investigation.On September 9th, a spokesperson for the Ministry of Commerce answered a reporters question regarding the US announcement on cybersecurity related to Chinese AI companies distillation activities in the US. The spokesperson stated that the US actions are a typical example of using state power to maintain technological hegemony and computing power monopoly, suppressing competition. Since the beginning of this year, the US executive and legislative branches have frequently issued threats of sanctions and suppression against Chinese companies distillation activities. Their aim is to suppress competition, maintain the US monopoly on computing power and data, ensuring only a US victory, preventing a win-win situation for humanity, and turning globally accessible AI resources into the exclusive resources of a few companies, thus preventing other countries from participating in the widespread sharing of AI innovation achievements.On September 9th, a spokesperson for the Ministry of Commerce answered a reporters question regarding the US announcement on cybersecurity related to distillation activities by Chinese AI companies in the US. The spokesperson stated that distillation is a common practice in the field of artificial intelligence, where models learn from each other. It is essentially a neutral technical means used by global model companies, including US companies. This technique can help models improve learning efficiency, enabling more efficient use of human knowledge. It has positive significance for developing the AI industry in various countries, unleashing the potential of AI technology, bridging development gaps, and benefiting developing countries and the general public more broadly. The US approach is a typical double standard. Regarding artificial intelligence, China encourages open source, openness, cooperation, and sharing. Chinas open-source models are open to global companies, including US companies, facilitating the development of related models. US company reports on model development also disclose that they distill a large number of Chinese models. In contrast, the US has repeatedly unilaterally accused Chinese companies of engaging in "industrial-scale" distillation, smearing common industry practices as attacks. This reflects both US anxiety and double standards.On September 9th, US Eastern Time, the National Security Agency, the Cybersecurity and Infrastructure Security Agency, and the Federal Bureau of Investigation jointly issued a statement accusing Chinese artificial intelligence companies of conducting "industrial-scale" distillation of their technologies in the US to acquire cutting-edge modeling capabilities, and offering recommendations for related defensive measures to US companies. What is Chinas comment on this? A spokesperson for the Ministry of Commerce stated that China is willing to engage in constructive and professional discussions with the US through dialogue based on the principles of equality, mutual benefit, and win-win cooperation. However, if the US uses the pretext of combating distillation to suppress Chinese artificial intelligence companies, China will resolutely take countermeasures. China hopes the US will work with China to manage risks through dialogue and communication, and promote the global benefits of the artificial intelligence industry.

Forecast for Gold: XAUUSD retreats from $1800 on rising US yields

Daniel Rogers

Aug 12, 2022 11:59

 截屏2022-06-07 下午5.14.22.png

 

While it had been trending upwards, gold's daily performance took a sour turn and it is now trading below $1800. During the American session, the XAUUSD reached a high of $1799 before turning down and heading below $1785.

 

Despite predictions of a 0.2% monthly increase, data released on Thursday indicated that the US Producer Price Index decreased by 0.5% in July, bringing the annual rate down to 9.8%. The Consumer Price Index did not move in July, contrary to predictions of a 0.2% increase, according to data released on Wednesday. The US currency fell because of the inflation rate going down.

 

Investors continue to count on a rate hike of 50 basis points or more from the Federal Reserve at their September meeting. U.S. rates have risen despite though a peak in US inflation is more likely, which is surprising. Both the US 10-year yield (now at 2.83%) and the 2-year yield (3.20%) are at their highest levels in nearly a week.

 

Increased US yields capped gold's gains. The inability of the XAU/USD pair to maintain a price over $1800 despite the recent US data has fueled skepticism that the rally will continue. Weekly support is found around $1774, and the immediate support is at $1785. Additional gains appear likely if the price of gold can consolidate over $1800.


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