• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 21, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. A reporter from The New York Times asked whether China had agreed to extend the original November 10 deadline for suspending rare earth export controls, and if so, for how long. Guo Jiakun stated that specific questions should be directed to the relevant Chinese authorities.On September 21, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. A reporter from The New York Times asked, "Last week, a US official stated at a briefing that despite promises made at previous summits, China has not yet fully restored rare earth supplies. What is Chinas position on this?" Guo Jiakun replied that specific questions should be directed to the relevant Chinese authorities. China has consistently been committed to maintaining the stability and security of the global supply chain for critical minerals. Both China and the US should work together to implement the important consensus reached by the two heads of state and maintain the stable development of China-US economic and trade relations.The Hang Seng Index continued its upward trend in the final minutes of trading, rising more than 1% and testing the 25,000-point mark. China Biopharmaceutical (01177.HK) and CSPC Pharmaceutical Group (01093.HK) led the gains among constituent stocks.On September 21, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. A reporter asked, "China has just announced that President Xi Jinping will pay a state visit to the United States. Could the spokesperson please introduce the main arrangements for the visit and Chinas expectations for developing China-US relations?" Guo Jiakun stated that at the invitation of US President Trump, President Xi Jinping will soon pay a state visit to the United States. During the visit, President Xi Jinping will exchange in-depth views with President Trump on major issues concerning China-US relations and world peace and development. Guo Jiakun pointed out that head-of-state diplomacy plays an irreplaceable strategic guiding role in China-US relations. The mutual visits between the two heads of state within six months are of historic milestone significance. China is willing to work with the US to enrich the connotation of the "constructive strategic and stable China-US relationship," strengthen dialogue and cooperation, properly manage differences, continuously improve the well-being of the people of both countries, and promote world peace, stability, and prosperity.September 21 – At the invitation of US President Donald Trump, Chinese President Xi Jinping will pay a state visit to the United States from September 23 to 25. This marks President Xis first visit to the US in three years and his first state visit in eleven years. It will also be the first time the Chinese and US heads of state have exchanged visits within six months, making it a significant event that has attracted global attention. President Xi has previously stated that the China-US relationship is the most important bilateral relationship in the world today, and it can only be improved, not damaged. Cooperation benefits both countries, while confrontation harms both; they should be partners, not adversaries.

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.