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On May 9, the Zug Cantonal Court of Switzerland said in a statement that on May 9, 2025, the Zug Cantonal Court of Switzerland approved the settlement agreement signed by Nord Stream 2 AG, the operator of the Nord Stream 2 natural gas pipeline, and its creditors on April 30, 2025. The statement said they could appeal the decision on the settlement agreement. Since the decision of May 9, 2025 has not yet come into effect, the state court did not provide any additional information on the suspension of the restructuring of the debt of Nord Stream 2 AG. The Nord Stream 2 offshore natural gas pipeline can transport 55 billion cubic meters of natural gas per year, but the German authorities previously stopped the certification process for the natural gas pipeline, and the United States included the Nord Stream 2 project company on the sanctions list. One of the pipelines was damaged in a strong explosion in 2022. In early 2025, the Danish Energy Agency approved the Swiss subsidiary of Gazprom, Nord Stream 2 AG, to maintain the natural gas pipeline.On May 9, Hongmeng Intelligent Driving released its April Intelligent Driving Assistance Report. The report shows that Hongmeng Intelligent Drivings total mileage in April exceeded 264 million kilometers, the user activity rate reached 88.62%, the average intelligent driving assistance mileage per user reached 561.65 kilometers, and a total of 16.254 million times of intelligent assisted parking were used.Bank of England Governor Andrew Bailey said on May 9 that the trade deal reached between the United States and the United Kingdom on Thursday was a good thing, but tariffs on most British exports to the United States are still higher than they were before last month. "In a world where actual tax rates will be higher than before all this started, this is good news," he said during a question-and-answer session at an economic conference in Reykjavik. Bailey also reiterated that the British economy is highly affected by the global economy and depends largely on the agreements reached by other countries with the United States. Baileys remarks were similar to his remarks at a press conference yesterday, when a deal seemed to be about to be reached but the details had not yet been announced.European Commission President Ursula von der Leyen: Before the summer, we expect a major boost to the capital markets.Sources: In trade negotiations, India has asked the United States to waive all current and future tariffs. India has proposed to reduce the tariff gap with the United States from nearly 13% to less than 4% under a potential trade deal.

Gold Edges Higher From A One-month Low As CPI Data Approaches

Charlie Brooks

Feb 14, 2023 16:52

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Gold prices recovered marginally from a one-month low on Tuesday, but investors remained on the sidelines in anticipation of further economic signals from U.S. consumer inflation data anticipated later in the day.


Most other commodity prices also remained inside narrow trading ranges, while the dollar remained stable despite concerns that inflation might surprise to the upside, prompting the Federal Reserve to increase interest rate rises.


At 19:32 EDT, spot gold increased 0.1% to $1,855.58 per ounce, while gold futures jumped 0.1% to $1,865.95 per ounce (00:32 GMT). On Monday, when markets became turbulent in anticipation of the consumer price index data, both instruments declined.


Inflation is anticipated to have declined more in January compared to the previous month, but to stay at rather high levels. This trend may provide the Fed with sufficient fuel to sustain its hawkish stance.


In 2022, the opportunity cost of keeping non-yielding assets climbed in parallel with U.S. Treasury yields, which negatively impacted gold prices. While the yellow metal did see a brief reprieve in the first few weeks of 2023, growing concerns about the Federal Reserve wiped out the majority of its previous gains.


In recent sessions, a surge in short-term Treasury rates and a comeback in the dollar, which lingered near a one-month high versus a basket of currencies both weighed on metal prices. The dollar sank marginally on Tuesday as a result of profit-taking.


Additionally, other precious metals were subdued on Tuesday. Futures for platinum increased 0.1% to $961.15 per ounce, while futures for silver remained stable at $21.992 per ounce.


Copper prices declined following big increases in the previous day, as traders continued to assess the likelihood of a Chinese demand rebound against concerns of a worldwide recession this year.


Futures for high-grade copper slipped 0.1% to $4.0585 a pound after gaining more than 1% in the previous session.


In recent weeks, the price of copper has fluctuated wildly due to conflicting indications regarding the economic recovery in China, the world's largest copper importer.


Fears of a slowdown in other major economies, notably the United States and the euro zone, have been a big headwind for pricing.

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