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Russian Ministry of Defense: Air defense forces shot down 95 Ukrainian drones in four hours.May 24th news, US President Trump said on May 23rd local time that if the mobile phones sold by Apple in the United States are made in foreign countries, they should face at least 25% tariffs. In an interview on the same day, US Treasury Secretary Bessant said that President Trumps original intention was to bring precision manufacturing back to the United States with the help of Apples relocation of the industrial chain. In this regard, some American experts said that moving Apple mobile phones back to the United States for production is "unrealistic like a fairy tale", and Apple will pay a high cost, and the price of its products will also rise. Apple phones produced in the United States will be sold for US$3,500, or about RMB 25,100. Compared with spending huge sums of money to move production lines back to the United States, Apple hopes to increase its investment in the field of artificial intelligence.Bank of Canada Governor Macklem: The transmission effect of tariffs in price data has not yet been observed.Bank of Canada Governor Macklem: The top priority is to reach a trade agreement with the United States.On May 24, Russian Ambassador to the UK Andrei Kelin said in an interview with the Russian Satellite News Agency that British society is increasingly tired of the Ukrainian conflict and British citizens do not want their country to accept Ukrainian refugees. In response to the question of whether British society is tired of the Ukrainian issue, Kelin said: "British society is tired of the Ukrainian issue, although it is not in the majority. If a year ago we were still talking about 80% of British people supporting their governments actions in Ukraine, now this proportion is seriously declining. I dont want to reveal specific numbers because they fluctuate frequently, but the trend is obvious. This is a decline in public support. More and more people are talking about the British people being tired of Ukrainian refugees and not wanting to take them in anymore."

Gold Price Forecast: The XAU/USD pair struggles to continue its climb above $1,870, although the upside remains likely

Alina Haynes

Jan 09, 2023 12:00

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During the Asian session, the gold price (XAU/USD) is hovering in a narrow range around the immediate barrier of $1,870. The precious metal hopes to extend its uptrend in light of market players' increased risk appetite.

 

S&P500 futures have contributed to their gains during Friday's surge, indicating an optimistic market sentiment. The US Dollar Index (DXY) has detected resistance at 103.50 and is likely to find support near 103.00. The yields on 10-year US Treasuries have decreased to approximately 3.56 percent due to a loss in safe-haven attraction.

 

Amidst mounting prospects of a U.S. recession, the gold price is garnering considerable attention. Following a string of declines in the US ISM Manufacturing PMI, the Services PMI has also declined, indicating a decline in overall demand in the United States economy. The Services PMI dropped sharply to 49.6 compared to the predicted 55.0. In addition, the New Orders Index, a measure of future demand, plummeted to 45.2% as opposed to the anticipated 58.5%. The U.S. dollar is affected by a slowdown in economic activity and its expectations for the future.


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