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On January 9th, it was reported that on January 8th, the U.S. International Trade Commission (ITC) voted to initiate a Section 337 investigation (Investigation Code: 337-TA-1477) into certain wearable devices with fall detection capabilities and their components. The named defendants are: Apple, Inc., Cupertino, California; Garmin Ltd., Schaffhausen, Switzerland; Garmin International, Inc., Olathe, Kansas; Garmin USA, Inc., Olathe, Kansas; Google LLC, Mountain View, California; Samsung Electronics America, Inc., Ridgefield Park, New Jersey; and Samsung Electronics Co., Ltd., Suwon-si, Republic of Korea.January 9th - Chongqings inter-provincial medium- and long-term electricity purchase transactions for 2026 exceeded 35 billion kilowatt-hours, reaching 37.18 billion kilowatt-hours, an increase of 42.5% year-on-year, setting a new historical record for Chongqings annual inter-provincial medium- and long-term electricity purchase transactions. Electricity trading refers to the market-based buying and selling activities between supply and demand sides for electricity commodities or services in the electricity market. Trading methods are divided into medium- and long-term transactions and spot transactions.On January 9th, the Ministry of Industry and Information Technology officially released the new vehicle application catalog for the HarmonyOS-enabled flagship MPV, the Zhijie V9. Yu Chengdong, Huaweis Executive Director, Director of the Product Investment Committee, and Chairman of the Terminal BG, announced that the new car will be officially unveiled in the spring.Hong Kong stocks fell, with the Hang Seng Index and Hang Seng Tech Index both turning negative. Tech stocks declined, with Meituan (03690.HK) and Baidu (09888.HK) falling by more than 2%.According to a report by the American Automobile Association (AAA) on January 9th, the national average gasoline price at the start of the new year was $2.81 per gallon, a multi-year low. The last time the national average price was this low was in March 2021. Crude oil prices have remained relatively stable since the end of 2025, unaffected by Venezuelas influence on the oil market. Currently, global oil supply is strong, as OPEC+ stated that it will not increase production in the first quarter of 2026 due to declining demand. According to the latest data from the U.S. Energy Information Administration (EIA), U.S. gasoline demand fell to 8.17 million barrels per day last week from 8.56 million barrels per day. Total domestic gasoline supply increased to 24.2 million barrels per day from 23.43 million barrels per day. Gasoline production declined last week, averaging 9 million barrels per day.

Gold Price Forecast: XAU/USD maintains rises above $1,900; downside appears bolstered by robust yields

Alina Haynes

Jan 18, 2023 14:56

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During the Asian session, the gold price (XAU/USD) exhibits a sideways auction profile above the round-level support of $1,900.00. The precious metal is able to maintain a price above $1,900.00. Tom Barkin, president of the Richmond Federal Reserve (Fed) Bank, made hawkish remarks that boosted US Treasury yields. However, the downside appears to be supported by the rising yields.

 

According to Fed officials, the economy has passed the inflation peak, but we are still far from the Consumer Price Index median (CPI). Therefore, a premature retreat from interest rate hikes is undesirable. 

 

Meanwhile, market volatility is increasing as risk-perceived assets lose traction. Futures on the S&P 500 have accelerated their losses, indicating that the risk-aversion theme is gaining traction. A drop in market participants' risk appetite has impacted the demand for US government bonds. This has caused 10-year US Treasury yields to rise above 3.54 percent.

 

In the future, investors will pay close attention to the United States Producer Price Index (PPI) (December) and monthly Retail Sales (December) statistics. According to estimates, the headline PPI (Dec) is anticipated to decline to 6.8%, while the core PPI is anticipated to decline to 5.9%. In addition, monthly Retail Sales statistics may indicate a 0.1% growth as opposed to the 0.6% decrease previously reported. A rise in Retail Sales statistics could increase the likelihood of a rebound in inflation estimates.


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