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The main contract for the container shipping index (European route) reversed its gains and fell during the day, with the current decline widening to 1.97% at 3779 points, after rising by more than 3% earlier.On June 2nd, local time, a bear appeared and attacked people in an office building and nearby residential area in Sasakino, Fukushima City, Fukushima Prefecture, Japan, injuring four people. The number of bear attacks on people in Japan has been increasing in recent years. Preliminary statistics released by the Japanese Ministry of the Environment in early April this year showed that from early April last year to the end of March this year, a total of 238 people were attacked by bears nationwide, of whom 13 died, both figures being record highs. Current data from the Japanese government estimates that there are more than 19,000 Asiatic black bears in the Tohoku region and 11,600 brown bears in Hokkaido.Tencent Holdings (00700.HK) continued its upward trend, with intraday gains widening to 4%. This followed earlier reports that Tencent was close to launching a WeChat AI assistant.U.S. stock index futures fell, with S&P 500 futures down 0.5%, Nasdaq 100 futures down 0.75%, and Dow Jones futures down 0.47%.June 2nd - According to Yonhap News Agency on June 1st, data released by the Korea Automobile Importers Association that day showed that Chinese-made cars ranked third among newly registered imported vehicles in South Korea in April, surpassing Japanese-made cars for the first time in history. The data showed that in April, European-made cars ranked first in new car registrations in South Korea with 16,800 units, followed by American-made cars (13,600 units), Chinese-made cars (2,023 units), and Japanese-made cars (1,974 units). Yonhap News Agency stated that this is the first time Chinese-made cars have surpassed Japanese-made cars in the South Korean imported car market. South Korean media generally regard this ranking as an important signal of a shift in the South Korean imported car market landscape. The *Korea Economic Daily* reported that Chinese car brands are rapidly increasing their presence in the South Korean market.

Gold Gains Weekly for the First Time in Six Weeks; Prices Remain Below $1,700

Haiden Holmes

Jul 25, 2022 11:43

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As the yellow metal's five-week losing streak came to an end, gold bulls achieved their first weekly victory since early June.


As markets prepare for the Federal Reserve's rate hike in July, analysts say the price of an ounce of gold, which is now hovering in the low $1,700s, may be susceptible to another slide below the $1,600 zone next week.


Analysts predict that if bullion maintains the tendencies of the last two days, it might rebound quickly from any dip into the sub-$1,700 range, propelling it to $1,800.


Ed Moya, head of U.S. research at the online trading platform OANDA, observed, "Gold is beginning to act as a safe haven as slowing economic growth compels many central banks to abandon aggressive tightening plans." "Gold may find resistance at $1,750, but if it does not, it will encounter few impediments until $1,800."


Gold futures for August delivery on the New York Comex gained $14, or 0.8 percent, to $1,727.40 per ounce on Friday, after trading around a 16-month low of $1,680.96 per ounce on Thursday.


After a five-week fall that cost bulls $172, or 9 percent, gold prices increased by 1.4 percent during the week of August.


On Friday, the Dollar Index, which compares the dollar to six major currencies, reached a two-week low of 105.98, causing the weekly rise. Unlike gold, the dollar reached its highest level since December 2002 last week, reaching 109.14.


Since the beginning of this week, the greenback has dropped, and its decline accelerated as the European Central Bank joined numerous other central banks on Thursday in raising interest rates to combat runaway inflation rather than prevent an economic recession.


The dollar declined on Friday as weaker-than-anticipated statistics from the U.S. services sector impacted on the currency's sentiment. S&P Global said that its most recent services sector index declined to 47 from a previous reading of 52.7 and a forecast of 52.6.


Contrary to initial forecasts, poor service statistics have increased the chance that the Fed would not raise interest rates by 100 basis points in July.

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