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On February 22, the Afghan Ministry of Defense issued a statement saying that Pakistan had once again violated Afghan territory, launching airstrikes on multiple civilian areas in Nangarhar and Paktika provinces. The attacks resulted in dozens of civilian casualties, including women and children. The Ministry of Defense strongly condemned Pakistans blatant violation of Afghan territorial sovereignty, considering it a serious breach of international law and the principle of good neighborliness. The Ministry warned that it would respond appropriately and carefully at the right time.February 22nd - According to data from the Hong Kong-Zhuhai-Macau Bridge Border Inspection Station of the Zhuhai Border Inspection General Station, since February 15th (the 28th day of the twelfth lunar month), as of February 21st (the fifth day of the first lunar month), the number of Hong Kong and Macau single-license plate vehicles entering and exiting through the Zhuhai Port of the Hong Kong-Zhuhai-Macau Bridge has exceeded 100,000, reaching 114,000. On February 21st (the fifth day of the first lunar month), the number of Hong Kong and Macau single-license plate vehicles inspected by the border inspection department exceeded 20,000 for the first time in a single day, setting a new historical high since the implementation of the "Macau vehicles traveling north" and "Hong Kong vehicles traveling north" policies.February 22 – Ahmed Altom, Director General of the Geological Research Authority of Sudan, stated on February 21 that the armed conflict in Sudan has caused approximately $7 billion in economic losses to the countrys mining industry. Altom said that the conflict has severely damaged Sudans mining infrastructure, reducing government-led mining activities from 18 states to 6. Geological surveys, exploration operations, and mining production have all been significantly affected, resulting in a sharp decline in related fiscal revenue.On February 22, US President Trump approved emergency aid to Washington, D.C., to address the aftermath of a leak that released at least 250 million gallons (approximately 940 million liters) of untreated sewage into the Potomac River. On January 19, a decades-old sewage pipe in Maryland ruptured, causing over 900 million liters of wastewater to flow into the Potomac River. This river flows west of Washington, D.C., and is a major source of drinking water for the capital region. The incident became one of the largest sewage spills in U.S. history. On February 18, Washington, D.C. Mayor Muriel Bowser declared a state of emergency and requested federal resources from President Trump to help the city deal with the sewage system leak.February 22nd - NIOs official Weibo account announced that on February 21st, 2026 (the fifth day of the Lunar New Year), NIOs battery swap service reached a record high of 175,976 transactions. This marks the fourth consecutive day of record-breaking performance since the start of the Year of the Horse.

Gold Price Analysis: After Fed Chair Powell's hawkish comments, the XAU/USD pair is in the red

Alina Haynes

Mar 08, 2023 13:54

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Gold is nursing its wounds due to the likelihood of a 50 basis point (bps) rate rise by the Federal Reserve. At the time of writing, Gold price is trading at $1,813.53 and has been probing lower in Asia to $1,1812.60, a fresh low made following the sell-off that transpired in response to Federal Reserve chair Jerome Powell's testimony before Congress on Tuesday.

 

The price of gold fell sharply as a result of Fed Chair Powell's remarks, falling from a high of $1,851.70 to a low of $1,1812.36 like a heavily weighted metal. This is a result of Jerome Powell, chairman of the Federal Reserve, stating that the US central bank will remain on course until the job is completed. He added more fuel to the fire by stating that the ultimate level of interest rates is likely to be higher than previously predicted.

 

The clincher was when Federal Reserve chairman Jerome Powell stated that the Fed is prepared to increase the tempo of rate increases if data indicates it is warranted.

 

"The most recent economic data have been greater than anticipated, indicating that the ultimate level of interest rates will likely be higher than anticipated. "Powell of the Fed stated in his testimony.

 

As a result, the yield on the 10-year US Treasury note rose to 4% before retreating to 3.96%, remaining marginally below the three-month high of 4.07% reached on March 2 as investors weighed the path of future rate increases by the Federal Reserve. This provided a stimulus to the dollar. The DXY index, a measure of the US Dollar versus a basket of currencies, smashed through 105 in a move that began at 104.43 and continued until 105.435, putting significant downward pressure on the price of Gold.