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On September 17, Chery Automobile announced on the Hong Kong Stock Exchange that it plans to issue 297,397,000 H shares (subject to the exercise of the over-allotment option) for its Hong Kong listing, with a price range of HK$27.75 to HK$30.75. The price is expected to be completed on September 23. The shares are expected to begin trading on the Hong Kong Stock Exchange on September 25.September 17th news, Google (GOOG.O) has been trying to catch up with OpenAI in the field of generative artificial intelligence, and now it seems to have finally made progress among users. This week, Googles Gemini application took the first place in the Apple App Store free application rankings, surpassing ChatGPT, which led the generative artificial intelligence craze nearly three years ago. Googles Gemini AI model has recently launched some updates, attracting new users. Last month, Google released an upgraded version of its "Flash" AI model, 2.5 Flash Image, which added an image editing feature called Nano Banana. Josh Woodward, head of the Gemini application, said that this product brought 13 million new users to the Gemini application in just four days, bringing its total number of users since its launch to 23 million.According to Japans Asahi Shimbun: Japan will postpone recognizing the State of Palestine.On September 17th, several major US tech companies announced they would invest over $40 billion to expand the UKs AI infrastructure, a significant boon for the country, coinciding with a state visit from President Trump. Microsoft (MSFT.O) said on Tuesday it would invest $30 billion in UK AI infrastructure and existing operations by 2028, its largest financial commitment yet in the country. Google (GOOG.O) said it would invest approximately $6.8 billion in AI, R&D, and related engineering in the UK over the next two years. Meanwhile, Nvidia (NVDA.O), OpenAI, and British company Nscale are collaborating to build AI infrastructure in the UK to meet OpenAIs computing needs. The project, called "Stargate UK," is expected to be located in northeast England and utilize tens of thousands of Nvidias Grace Blackwell Ultra graphics processing units. Among other investments, AI cloud computing company CoreWeave plans to invest approximately $2.04 billion in AI data center capacity and operations in the UK. Salesforce announced it would invest a further $2 billion in its UK operations by 2030, while BlackRock will pour £500 million into data centers across the UK.On September 17th, local time, it was learned on the 16th that Israels Intelligence and Secret Service (Mossad) deployed 100 foreign agents in Iran at the start of the Israel-Iran conflict in June of this year. Israels Channel 13 reported that day that, according to information disclosed publicly for the first time by the Israeli Mossad, the agency established a "small army" of 100 foreign agents in Iran at the beginning of the Israel-Iran conflict in June of this year. Their mission was to destroy Irans numerous missile launchers and air defense systems at the outset of the conflict. The report said that these agents were well-trained and capable of operating missile systems weighing hundreds of kilograms. These missile systems were smuggled into Iran and used to attack Iranian ballistic missile launchers and air defense missile systems. This was reportedly the largest operation by the Israeli Mossad to date.

Forecast for the price of gold: XAU/USD upward to $1,745 with positive RSI divergence and weaker USD

Daniel Rogers

Sep 09, 2022 17:13

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Around $1,720 is where the gold price (XAU/USD) is currently leading early on Friday morning in Europe. In doing so, the yellow metal applauds widespread US dollar weakening and cautious market confidence. Technical signs can work in the buyers' advantage.

 

By press time, the US Dollar Index (DXY) had pared its largest daily loss in a month and was still near the one-week low. In doing so, the greenback indicator fails to support the aggressive remarks made by Fed Chair Jerome Powell the day before while emphasizing the stronger sentiment in the market.

 

Market confidence is influenced by tougher remarks made late Thursday by US Treasury Secretary Janet Yellen, which indicate that US-China trade relations are expected to improve. Recent stronger US statistics and optimism that global central bankers can combat inflation-driven blow with a comprehensive strategy and higher rates also appeared to have helped the market's sentiment. It should be noted that discussions about potential difficulties for Chinese technology companies and unfavorable inflation data for China recently seemed to test the XAU/USD bulls.

 

The US 10-year Treasury yields, which are indicative of the mood, are behind after a good day at around 3.32%, while the S&P 500 Futures tracks Wall Street's advances at about 4,020. The stocks in the Asia-Pacific region are also still firmer, it should be noted, as cautious optimism grows during a sluggish session.

 

The XAU/USD prices are probably going to finish the week on a high note given the risk-on mindset and depressed US dollar. The final round of Fedspeak before the blackout period, which begins this weekend, should nevertheless be paid heed to for new inspiration. Conversations on US inflation ahead of the US Consumer Price Index (CPI) statistics the following week will be crucial.