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According to an Asahi Shimbun poll: Japans cabinet approval rating rose 4 percentage points to 30%.Ukrainian President Zelensky: Ukraine will respond to silence with "silence" and respond to Russias attacks with attacks.1. This round of Israeli-Palestinian conflict has resulted in 51,201 deaths in the Gaza Strip. 2. Lebanon said that the Israeli armys attack on southern Lebanon caused one death and two injuries. 3. The Israeli army claimed to have killed a senior commander of Hezbollah in Lebanon. 4. According to the Jerusalem Post: The Israeli Security Cabinet will hold a meeting on Tuesday. 5. The Iranian Foreign Minister said that Iran-US talks must be extremely cautious. 6. The Iranian Foreign Minister: Israel is the only obstacle to the "denuclearization" of West Asia. 7. The Hamas delegation held talks with the Turkish Foreign Minister on a ceasefire in Gaza. 8. The Israeli army announced the results of the investigation into the attack on the Gaza ambulance convoy in March, admitting that there was a so-called "misjudgment". The Palestinian response: full of lies. On April 21, after 0:00 on the 21st local time, with the end of Easter, Russias 30-hour ceasefire officially expired and will not be extended. As of press time, neither Russia nor Ukraine has issued a statement on extending the ceasefire. Russian President Vladimir Putin said when meeting with Russian Chief of General Staff Gerasimov on the 19th that on the occasion of Easter on the 20th, the Russian army will stop all combat operations from 18:00 on the 19th to 0:00 on the 21st. Russia hopes that Ukraine will follow Russias example. Zelensky posted on social media on the same day, proposing to extend the ceasefire until after Easter on the 20th, saying that 30 hours is not enough to build real trust. On the 20th, Russian Presidents Press Secretary Peskov responded to questions raised by Russian media about the possibility of extending the ceasefire, saying "there are no other instructions." He said on the same day that Putin did not issue an order to extend the ceasefire.US President Trump hopes Russia and Ukraine can reach an agreement this week.

Gold Maintains Its Position Above $1,700 Despite Dollar Decline; ECB Anticipation

Charlie Brooks

Sep 08, 2022 11:28

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Gold prices stayed constant over $1,700 on Thursday, as a pause in the dollar's recent ascent relieved some pressure on metal prices, with attention shifting to an upcoming meeting of the European Central Bank for more cues.


At 11:18 p.m. ET (19:18 GMT) on Thursday, spot gold was essentially unchanged at $1,717.40, after gaining about 1% on Wednesday. Gold futures rose marginally to $1,728.65, after gaining around 1% in the previous session.


As investors awaited a rate hike by the European Central Bank (ECB) later in the day, the dollar slid further from its 20-year highs on Thursday. It is anticipated that the central bank will hike interest rates by 50 basis points for the first time in eleven years as it struggles to curb growing inflation and a weakened euro.


It is anticipated that the increase in interest rates will strengthen the euro and weaken the dollar, which might be beneficial for gold prices.


"The increase of the U.S. dollar has been halted pending the ECB rate announcement, which is positive for gold." Gold is tentatively holding near the $1,700 mark, which might be tested... According to research by OANDA analysts, gold remains susceptible to another significant decline.


The dollar's strength and U.S. Treasury yields have severely weighed on gold prices over the past month, as good U.S. economic data and hawkish signals from the Federal Reserve have raised expectations for future sharp interest rate hikes by the central bank. As a result of the Federal Reserve's decision to increase interest rates this year, gold's price has decreased since its peak in 2022.


This has caused gold returns to lag behind inflation, casting doubt on the yellow metal's efficacy as a hedge against inflation.


Copper prices were muted, continuing a fall in the prior session, as concerns about China's faltering economy increased.


Despite Chinese trade data indicating that the nation continued to increase copper imports in August, investors are afraid that this trend may reverse as economic activity continues to decline.


As a result of a fall in imports and exports, China's overall trade balance in August was severely below expectations.

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