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On February 14, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended the Munich Security Conference and delivered a speech and answered questions at the "China Session." When asked about Chinas role in resolving regional conflicts, particularly the Ukraine issue, Wang Yi stated that Chinas position is clear: all regional hotspots should seek political solutions through dialogue and consultation, and the same applies to the Ukraine issue. However, China is not a party to the conflict, and the decision-making power is not in Chinas hands. What we can do is to promote peace talks. We have dispatched special envoys to mediate and, through various channels, emphasized to all parties that a ceasefire should be implemented as soon as possible, and that everyone should return to the negotiating table.On February 14, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended the Munich Security Conference, delivered a speech at the "China Session," and answered questions from the audience. Wang Yi emphasized that the erroneous remarks by Japanese leaders on the Taiwan issue exposed Japans undying ambition to invade and colonize Taiwan and the lingering specter of reviving militarism. Japan launched its invasion of China and attacked Pearl Harbor under the pretext of a so-called "crisis and existential crisis." The lessons of history are still fresh and must be heeded. If Japan does not repent, it will inevitably repeat the same mistakes. Good people should be vigilant. First and foremost, the Japanese people must be reminded not to be blinded and coerced by far-right forces and extremist ideologies again. All peace-loving countries should also warn Japan: if it chooses to go back to its old ways, it will only lead to its own destruction.Joint statement from the UK, Switzerland, France, Germany, and the Netherlands: We and our partners will use all policy tools at our disposal to continue to hold Russia accountable.Joint statement from the UK, Switzerland, France, Germany, and the Netherlands: We further express our concern that Russia has not destroyed all of its chemical weapons.The United Kingdom, Sweden, France, Germany, and the Netherlands issued a joint statement regarding the death of Alexei Navalny.

Gold Falls Below $1,900; The dollar Soars As The Fed Prepares to Double Its Rate Hikes

Charlie Brooks

Apr 26, 2022 09:57

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On Monday's session on the New York Comex, an ounce of the yellow gold returned to the $1,800 level.


This came as the dollar strengthened on expectations that the Federal Reserve would hike rates by 50 basis points, or half a percentage point, at its May policy meeting next week — more than double the 25 basis points, or quarter point, approved in March, the first increase in the post-pandemic era in the United States.


On Monday, Comex front-month gold futures for June finished down $38.30, or 2%, at $1,896 an ounce. On April 18, June gold reached a six-week high of $2,003 on concerns that the US could enter recession as a result of strong Fed attempts to rein down inflation. Gold is frequently used as a hedge against economic and political uncertainty.


Over the last week, a series of Fed speakers assuaged market concerns that the economy would turn negative as a result of the central bank's efforts to contain price pressures developing at their highest rate in 40 years.


While fears of a hard landing have not completely vanished, optimism, particularly regarding the sterling job market, has won over some pessimists. This has resulted in the dollar surging – the primary beneficiary of a rate hike — at the expense of gold and other safe-haven assets.


The Dollar Index, which compares the US currency to six main rivals, touched a 25-month high of 101.745 on Monday.


US bond yields, which frequently move in lockstep with the dollar, have recently decoupled from the greenback. The yield on the US 10-year Treasury note fell for the third consecutive day, dropping about 4% on the day.


While risk aversion across the board drew investors to safe-haven assets, gold's near-term charts showed the possibility of a rebound to the $1,900 lows, at the very least, following the week's loss of more than $100. 


"Gold has begun to exhibit oversold conditions on a daily basis, which may result in a short-term relief rally, albeit not necessarily a reversal," Dixit explained. "The $1,925 to $1,935 level remains a hurdle, but a rebound is probable." If history is any guide, gold will almost certainly find buyers at lower prices."


On the other hand, he noted, a Comex settlement below $1,888 will exacerbate gold's troubles.

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