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On July 14th, according to the authorization announcement of the State Intellectual Property Office, Xiaomi Automotive Technology Co., Ltd. was granted a utility model patent for "Underwater Propulsion Device and Vehicle," with authorization announcement number CN224477061U. According to the patent description, the underwater propulsion device adopts a ring-shaped flow channel design with an outer casing and an internal guide section. The flow channel gradually narrows from the inlet to the outlet through the outer wall of the guide section. Combined with a flow channel layout that features a smaller inlet area and a larger outlet area, this smoothly guides the water flow through the channel, avoiding the formation of localized low-pressure areas due to rapid contraction and expansion. This reduces the cavitation effect that can cause noise and erode the blades. Furthermore, this patent suggests that Xiaomi may be exploring amphibious travel scenarios.Market news: The Ukrainian parliament has officially approved Sviridenkos resignation as prime minister.July 14 - According to local media reports on the 14th, a fire broke out in a building in downtown Brussels, the capital of Belgium, resulting in multiple deaths.Berkshire Hathaway: Buffett currently holds 188,290 Berkshire Class A shares and 1,162 Class B shares.On July 14, the Omani Ministry of Foreign Affairs issued a statement saying that, regarding the recent discussions surrounding navigation in the Strait of Hormuz, Oman will continue to cooperate with all parties in a transparent and neutral manner to promote the restoration of freedom of navigation in the Strait of Hormuz and ensure that the relevant arrangements are fully in accordance with international law. The statement added that Oman will continue to fulfill its obligations as a State Party to the United Nations Convention on the Law of the Sea and called on all parties concerned to respect international law and handle related issues in accordance with international law.

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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