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US Secretary of State Rubio: As negotiations continue, a potential agreement with Iran could still be signed as early as Monday.On May 25, World Health Organization Director-General Tedros Adhanom Ghebreyesus posted on the social media platform X on the 24th that as the monitoring and control of Ebola in the Democratic Republic of Congo intensifies, the country has now identified more than 900 suspected cases, of which 101 have been confirmed through subsequent testing.On May 25th, Alibaba DAMO Academys XuanTie team announced on its official Weibo account that its 9-series high-performance processors have completed adaptation to the Android 16 operating system and have released the XuanTie Android platform to strategic customers. As the worlds first RVA23-compatible RISC-V processor to successfully run the latest version of Android, the XuanTie 9-series represents a breakthrough, marking a new stage in RISC-Vs integration into the Android ecosystem, moving from functional porting to standardized compatibility and product delivery, laying a technological foundation for large-scale commercial deployment. Currently, the XuanTie Android platform is open to the first batch of XuanTie strategic customers, accelerating the exploration of new RISC-V smart terminal scenarios and significantly shortening the cycle from chip prototype to product launch.May 25th - According to Malaysian police, a serious safety accident occurred on an oil drilling platform off the coast of Terengganu, Malaysia, at noon on the 24th. Four workers were conducting maintenance on the bottom of the platform in an enclosed lifeboat when the lifeboats rope suddenly broke. The accident has resulted in three deaths and one serious injury. Petronas, Malaysias national oil company, is actively cooperating with relevant authorities in a full investigation into the cause of the accident.On May 25th, Eamonn Sheridan, an analyst at the US financial website InvestingLive, pointed out that the minutes of the Federal Reserves April meeting showed a significant shift in the Feds stance. Previous statements emphasizing a "flexible and rapid" response to economic data have been replaced by new wording: persistently high inflation, coupled with the uncertainty surrounding the economic impact of the ongoing conflict in Iran, may mean that policy needs to remain paused for a longer period than previously expected. The inflation situation facing new Chairman Warsh is not simply an energy issue. Officials pointed out that high fuel costs are gradually being passed on to shipping rates, airfares, and fertilizer costs, spreading inflationary pressures to a wider range of areas. This transmission effect makes inflation less likely to be seen as a temporary factor, and gives hawkish officials a more sustainable basis for advocating for maintaining high interest rates or even raising them. The market currently expects that if inflation fails to subside, the Fed may resume raising interest rates by the end of 2026 or early 2027. Warsh himself favors rate cuts, but this stance creates a potential conflict with a committee that is clearly becoming more hawkish; as Warshs leadership style gradually emerges, this dynamic could exacerbate volatility in communication within the FOMC.

Gold Maintains Its 8-Month High Ahead of A Data-Rich Week

Haiden Holmes

Jan 16, 2023 11:00

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On Monday, gold prices stabilized at recent highs as investors locked in profits and exercised caution ahead of a flurry of major economic data releases and central bank meetings from across the globe this week.


In recent weeks, the price of gold has increased significantly due to an increase in bets that the U.S. Federal Reserve will raise interest rates at a slower rate in the future months, thereby reducing the pressure on non-yielding assets.


Statistics indicating that inflation fell further in December supported this notion, which weighed on the dollar and yields on U.S. Treasury assets.


Fears of a recession in the world's leading economies prompted a rise in safe-haven demand for gold in 2018, as the effects of rapid interest rate hikes through 2022 became apparent.


This week, a deluge of data from the United States, Japan, China, the United Kingdom, and the Eurozone will shed light on any additional signs of sluggish development in major economies. China and Japan's interest rate decisions are also under scrutiny, with particular focus on the Bank of Japan following its unexpectedly hawkish tone at its December meeting.


Spot gold fell 0.1% to $1,918.49 per ounce, while gold futures held constant at $1,925.00 per ounce as of 19:33 E.T. (00:33 GMT). Since May 2022, both variables were near their best values.


Monday's trade volumes on the metals markets are anticipated to be low due to a U.S. holiday.


Last week, copper prices reached a seven-month high. On Monday, copper prices declined slightly. In anticipation of a resurgence in Chinese demand this year as a result of China's relaxation of most of its stringent anti-COVID regulations, bids for the red metal skyrocketed.


Copper futures fell 0.3% to $4.2060 per pound, but are up more than 10% so far this year.


In addition to robust demand patterns in China, the world's largest copper consumer, prices of the red metal are predicted to benefit from potential supply delays among important Latin American suppliers.

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