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On April 27, the National Energy Administration (NEA) held a press conference to introduce the national energy situation and development achievements in the first quarter of 2026. Bian Guangqi, Deputy Director of the Energy Conservation and Technology Equipment Department of the NEA, stated that the NEA will earnestly implement the spirit of the Fourth Plenary Session of the 20th CPC Central Committee, work with the National Development and Reform Commission to scientifically plan the development goals and tasks of the hydrogen energy industry during the 15th Five-Year Plan period, improve the hydrogen energy policy management system, continuously deepen technological and industrial innovation, vigorously promote high-quality development of hydrogen energy, and strongly support the construction of a new energy system and the cultivation of future industries.On April 27, the National Energy Administration held a press conference to introduce the national energy situation and development achievements in the first quarter of 2026. Xing Yiteng, Deputy Director of the Development Planning Department of the National Energy Administration, stated that energy security was effectively guaranteed. The impact of the Venezuelan crisis and the US-Israel-Iran conflict on my countrys energy supply was properly handled. Domestic oil and gas supply remained generally stable and orderly in the first quarter, with crude oil and natural gas production by large-scale industrial enterprises increasing by 1.3% and 3.0% year-on-year, respectively. Raw coal production remained stable on a high base from the same period last year, with raw coal production by large-scale industrial enterprises increasing by 0.1% year-on-year. The safety situation in the power sector remained stable and improved. Emergency response to various natural disasters was efficiently completed, and power supply work during the Spring Festival and the Two Sessions was successfully completed.On April 27, the National Energy Administration held a press conference to introduce the national energy situation and development achievements in the first quarter of 2026. Xing Yiteng, Deputy Director of the Development Planning Department of the National Energy Administration, introduced that key energy projects are accelerating construction. Energy investment maintained rapid growth in the first quarter, providing strong support for the positive growth of national fixed asset investment. The role of the power grid in ensuring safety and expanding investment is becoming increasingly prominent, with investment in hydrogen energy, coal-to-oil and gas, and new energy storage accelerating. Private enterprises are deeply involved in national science and technology projects in the energy sector, with the Zhejiang Sanao Unit 1 nuclear power project, the first nuclear power project in China to introduce private capital, connecting to the grid. A number of major projects are being implemented at an accelerated pace, with the Fujian Zhangzhou Nuclear Power Unit 2 successfully put into operation, the Anhui-Hubei back-to-back power grid interconnection project commencing construction, and the Shaanxi-Henan ±800 kV ultra-high voltage direct current transmission project and the Hainan-Guangdong power flexible mutual assistance project being approved, providing strong support for my countrys energy security.April 27 – According to WorldOne News, India and New Zealand will sign a free trade agreement in Delhi today. The agreement will reduce and eliminate tariffs on a range of goods, providing Indian exporters with 100% duty-free access. New Zealand will provide $20 billion in investment. Previously, India had signed several free trade agreements with the EU, Oman, the UK, and other countries.April 27th - In April 2025, my country will fully implement the "instant tax refund upon purchase" service for departing tourists nationwide. As of now, this measure has been smoothly implemented for a full year. Over the past year, the number of people applying nationwide has increased by 12.96 times year-on-year, while the amount of tax refunded sales and the amount of tax refunded have both increased by 9.35 times year-on-year. The new "instant tax refund upon purchase" measure for departing tourists has achieved remarkable results.

Forecast for the price of gold: XAU/USD eases below the $1,804 barrier as Fed hawks back off due to weaker US inflation

Alina Haynes

Aug 11, 2022 11:58

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US inflation-driven gains in the price of gold (XAU/USD) are fading as the metal declines to $1,790 on Thursday during the opening Tokyo session. The recent decline in the price of precious metals may be related to conflicting worries about the US Federal Reserve's (Fed) upcoming actions as well as Sino-American friction.

 

On Wednesday, the US Consumer Price Index (CPI) fell to 8.5% YoY in July, below the 8.7% consensus and the 9.1% reading from June. According to Reuters, US President Joe Biden stated on Wednesday that there are some indications that inflation may be decreasing after the US released its inflation data. In the coming months, there may be more challenges for us to overcome, Biden continued. US President Biden continues, "We still have work to do, but we're on track."

 

Following the CPI report on Wednesday, traders of futures linked to the Fed's benchmark interest rate reduced their bets on a third consecutive 75-basis-point raise at its policy meeting on September 20-21 and now see a half-point increase as the most likely scenario, according to Reuters.

 

Neel Kashkari, president of the Minneapolis Fed, recently stated that the Fed is "far, far away from declaring success" on inflation. Additionally, the decision-maker stated that he hasn't "seen anything that changes" the need for the Fed to raise its policy rate to 3.9% by year's end and to 4.4% by the end of 2023. Charles Evans, president of the Chicago Fed, said in another place that a recession would likely require unfavorable circumstances to occur. Also labeling inflation "unacceptably" high, Fed's Evans

 

Additionally, according to sources cited by Reuters, US President Biden is reconsidering his China tariff policy in light of Taiwan's response, which put the XAU/USD bulls on the defensive.

 

S&P 500 Futures print modest gains near 4,220 by press time against this backdrop after Wall Street rose and US Treasury yields were largely unchanged the day prior.

 

Moving on, the monthly Producer Price Index (PPI) for July and the weekly US Jobless Claims numbers may amuse gold traders. However, in light of recent risk-negative headlines, special focus should be placed on the qualitative variables.

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