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On March 14, R&F Properties (02777.HK) released its unaudited operating data for February 2025. The total sales revenue for February 2025 was approximately RMB 795 million, and the sales area reached 65,700 square meters. As of the end of February 2025, the total sales revenue was approximately RMB 1.58 billion, and the cumulative sales area reached 136,400 square meters.On March 14, Ryan McIntyre, fund manager at wealth management company Sprott, said that in a world full of economic uncertainty and geopolitical turmoil, gold remains a prominent asset. He said that although gold prices are at an all-time high, he does not think that gold prices are overvalued because demand for safe-haven assets is soaring. He said: "I would say that stocks are overvalued from many different indicators." "When you look at what is happening in the world and consider the potential returns versus the potential risks, gold is still a place worth investing for me." McIntyre said that it is not just the stock market adjustment that drives safe-haven demand into gold. With the unsustainable growth of the US government debt, economic risks have risen to sovereign levels. "The US government can no longer suddenly intervene to rescue banks or technology companies. This is where the huge risk comes from," he said.On March 14, China Overseas Land & Investment (03377.HK) issued an announcement on the Hong Kong Stock Exchange stating that the cumulative contracted sales in the first two months of 2025 were approximately RMB 2.88 billion, a year-on-year increase of 42.57%; the cumulative contracted sales floor area was approximately 171,700 square meters; and the cumulative contracted sales average price was approximately RMB 16,800 per square meter.March 14th news, recently, Suzhou Housing Provident Fund Management Center issued a notice on soliciting opinions on the "Notice on Further Increasing Support for Provident Fund Loans" and the "Notice on Implementing Interest Subsidy for Personal Housing Loans of Provident Funds for Difficult Families (Draft for Comments)". In terms of increasing support for childbirth, if a depositor family raising a minor child uses a housing provident fund loan to purchase the familys first or second self-occupied housing, the loan amount can be increased by 30% on the basis of the loan amount. If a depositor family raising a minor child uses a housing provident fund loan to purchase the familys first or second self-occupied housing, the loan amount can be increased by 35% on the basis of the loan amount. In terms of supporting improved housing, if a housing provident fund loan is used to purchase a newly built improved housing such as "two smart and one full" housing, the loan amount can be increased by 20% on the basis of the loan amount.Kremlin: Russian President Vladimir Putin received information from Vitkov about US views on Ukraine.

Gold Faces New Challenges as the Dollar Prevents a Return to $1,800

Haiden Holmes

Aug 04, 2022 10:57


Today, gold bulls seldom see more than two weeks of continuous increases.


On Wednesday, it looked that longs in the yellow metal had exhausted their two-week pass following the dollar's surge on fresh anticipation of greater U.S. rate hikes, which halted gold's recent rally and short return to $1,800.


The gold futures contract for December on the New York Comex fell by $13.30, or 0.7%, to $1,776.40 per ounce. The previous day, it touched a near-monthly peak of $1,805.


The spot price of bullion, which some traders monitor more closely than futures, remained at $1,765 after dipping slightly below $1,755.


The Dollar Index, which measures the dollar to six major currencies led by the euro, rebounded from Tuesday's three-week low of 104.9 to hit a one-week high of about 106.7.


Regional heads of the Federal Reserve, such as James Bullard of St. Louis, Mary Daly of San Francisco, and Loretta Mester of Cleveland, have declared in recent days that the central bank will continue to hike interest rates to battle inflation that remains stubbornly above four-decade highs. Consequently, the dollar recovered its strength.


The Federal Reserve is perplexed as to why inflation, as measured by the Consumer Price Index, has not declined from four-decade highs, expanding at a rate of 9.1 percent in the year leading up to June, despite four rate hikes since March that have raised rates from near zero to as high as 2.5 percent.


According to San Francisco Fed President Daly, the economy is not at risk of another 'Great Recession,' and the United States can withstand a third consecutive 75-basis-point rate increase if necessary.


"A 50 basis point increase in September would be appropriate," Daly stated in a live-streamed lecture regarding the anticipated size of the next Fed rate hike. "However, if inflation continues to rise uncontrolled, an increase of 75 basis points could be more appropriate. I do not expect another Great Depression to occur."


Some observers consider the United States as being in a recession after two straight quarters of negative GDP growth in the first half of this year. The so-called Great Recession started in 2008/09, when a market crash triggered a global financial crisis.


Jerome Powell, chairman of the Federal Reserve, acknowledged last week that the central bank cannot predict whether it would sustain the dramatic rate hikes it has conducted since March to battle inflation. This resulted in a gold price movement toward $1,800.


Since August 2020, when it reached record highs above $2,100, gold has failed to live up to its reputation as a hedge against inflation for the most of the previous two years. The dollar's ascension, which is up 11 percent this year and 6 percent in 2021, has contributed.

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