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June 1st - The "Regulations of the State Council on Outward Investment," adopted at the 83rd Executive Meeting of the State Council on April 17, 2026, are hereby promulgated and will take effect on July 1, 2026. Banking financial institutions should, based on their functional positioning and adhering to the principles of marketization, rule of law, commercial sustainability, and controllable risk, provide financing and other financial services to investors for outward investment within their business scope. Policy-oriented insurance institutions are encouraged to provide overseas investment insurance and other services to investors. The State will improve the outward investment management system, refine regulatory measures, implement full-process supervision by category and level, strengthen risk prevention and control, enhance the scientific nature and security of outward investment, and promote a combination of investment facilitation and effective risk prevention.June 1st - The "Regulations of the State Council on Outward Investment," adopted at the 83rd Executive Meeting of the State Council on April 17, 2026, are hereby promulgated and will come into effect on July 1, 2026. The State supports investors in conducting outward investment activities according to market principles and actively participating in international cooperation and competition. Investors enjoy the right to make independent decisions, bear their own risks, and assume their own profits and losses in accordance with the law. Investors conducting outward investment and related activities shall abide by laws, regulations, and international practices; respect local customs and cultural traditions; adhere to business ethics; act with honesty and integrity; compete fairly; fulfill social responsibilities; safeguard the national image; and shall not disrupt market competition, damage the ecological environment, infringe upon the legitimate rights and interests of workers, endanger Chinas national security, or harm national interests and the public interest.June 1st - The "Regulations of the State Council on Outward Investment," adopted at the 83rd Executive Meeting of the State Council on April 17, 2026, are hereby promulgated and will come into effect on July 1, 2026. These Regulations are formulated in accordance with the "Foreign Relations Law of the Peoples Republic of China," the "Foreign Trade Law of the Peoples Republic of China," and other relevant laws to promote high-level opening-up, facilitate high-quality development of outward investment, effectively manage outward investment, protect the legitimate rights and interests of investors and their outward investments, and safeguard national sovereignty, security, and development interests. These Regulations apply to outward investments by investors within the territory of the Peoples Republic of China. The State proactively aligns with high-standard international economic and trade rules, promotes high-quality Belt and Road cooperation, advances the construction of multilateral and bilateral investment cooperation mechanisms, actively participates in the formulation of international investment rules, promotes international cooperation in industrial and supply chains, opposes unilateralism and protectionism, and promotes the building of an open world economy.Crude oil futures contracts trended higher, with SC crude oil rising 1.15% to 596.6 yuan/barrel. Low-sulfur fuel oil (LU) rose 1.85% to 4730 yuan/ton. Fuel oil rose 2.77% to 3898 yuan/ton. Asphalt rose 2.01% to 4261 yuan/ton.On June 1, Jiang Lue, spokesperson for the China Coast Guard, stated that on June 1, the China Coast Guards Daishan frigate fleet conducted law enforcement patrols in the waters east of Taiwan. This is a necessary action taken in response to Japan and the Philippines unilateral announcement of initiating negotiations on the delimitation of the waters east of Taiwan, which seriously infringes upon Chinas territorial sovereignty and maritime rights. We urge Japan and the Philippines to immediately cease all illegal actions that infringe upon Chinas sovereignty and rights. The China Coast Guard will continue to strengthen control over the relevant waters and resolutely safeguard national territorial sovereignty and maritime rights with concrete actions.

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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