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Russian Ministry of Defense: Russia shot down 72 Ukrainian drones in the past day.On October 12, according to US media reports, US Navy officials said on the same day that the US Navy dismissed the commander of the USS Wyoming (SSBN 742) ballistic missile nuclear submarine this week. The US Navy issued a statement saying that the commander of the Navys 10th Submarine Squadron, Rear Admiral Bob Worth, dismissed Lieutenant Commander Robert Moreno, who led the "Blue" crew of the USS Wyoming nuclear submarine, because of "loss of confidence in his command ability." US media said that the military usually removes commanders from their posts due to loss of confidence, but does not provide specific reasons for dismissal. The US Navys statement did not provide more information about the decision to remove Moreno, and a Navy spokesman declined to provide further details. The statement read: "Navy commanders must adhere to high standards of personal and professional conduct. They should uphold the highest standards of responsibility, reliability and leadership, and if they fail to meet these standards, the Navy will hold them accountable."According to TASS: Russian air defense forces shot down 32 Ukrainian drones at night.On October 12th, French Prime Minister Jean-Claude Le Cornu, who was reappointed by French President Emmanuel Macron as Prime Minister on October 11th local time, stated during a visit to a police station in the Paris suburbs that he currently only wants to focus on resolving Frances political crisis. Given the deep political divisions within Frances political parties, he could be impeached by the National Assembly at any time. Le Cornu declined to specify when he would form a new government or its potential composition, but did indicate that it would not include anyone interested in running in the 2027 presidential election.On the evening of October 12th, local time, Wilders, leader of the far-right Dutch Freedom Party, posted on social media that the Dutch National Intelligence Service had officially informed him that he was being targeted by a terrorist organization. As a result, he had decided to suspend all campaign activities. The Netherlands is set to hold parliamentary elections on October 29th, and Wilderss far-right Freedom Party is currently leading in opinion polls. According to multiple European media reports, the terrorist organization also orchestrated the recent attack on Belgian Prime Minister Thomas de Weve. The Belgian government has arrested two suspects in connection with the case.

Forecasts for the price of gold: XAU/USD remains below $1,800 despite worries about the economy and optimism in China

Alina Haynes

Dec 07, 2022 14:52

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The current difficulty of the yellow metal to find direction increased as China's trade surplus decreased in November as both imports and exports fell during the aforementioned month. The gradual increase in US Treasury yields amid worries of a global economic downturn is on the same track.

 

It's important to note that numerous eminent business leaders and bank executives have recently expressed concern about a possible worldwide recession. Bloomberg Economics made comments along the same lines.

 

However, the gold price appears to be supported by China's willingness to announce responsible fiscal and monetary measures as well as indications that the three-year-old Zero-Covid policy may be progressively abandoned.

 

US stock futures post modest gains amid these plays, but stocks in the Asia-Pacific region trade in a mixed bag. However, during the pre-FOMC blackout, hawkish bets on the Fed's upcoming action were not supported by US inflation predictions.

 

Ahead of Thursday's China inflation data and Friday's preliminary US Michigan Consumer Sentiment Index readings, gold traders may find some amusement in China's probable risk-positive statements and secondary data.