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On April 2, China Metallurgical Group Corporation (MCC) announced that as of March 31, 2026, the company had repurchased 50,277,526 A-shares through centralized bidding on the Shanghai Stock Exchange. The repurchased A-shares represent 0.2426% of the companys total share capital. The highest transaction price was RMB 3.25 per share, the lowest transaction price was RMB 3.01 per share, and the total transaction amount was RMB 159,525,331.42 (excluding transaction fees). As of March 31, 2026, under the authorization of this H-share repurchase, the Company repurchased 19,637,000 H-shares through the centralized trading system of the Hong Kong Stock Exchange via on-exchange repurchase (centralized bidding). The repurchased H-shares represent 0.0948% of the Companys total share capital. The highest transaction price was HK$1.94 per share, the lowest transaction price was HK$1.80 per share, and the total transaction amount was HK$36,718,036.80 (excluding transaction fees).On April 2, the General Office of the State Council issued the "Implementation Plan on Establishing a Comprehensive Evaluation System for Enterprise Credit Status." The Implementation Plan requires improving the public credit evaluation system, unifying public credit evaluation rules, industry credit evaluation management, and channels for publicizing public credit evaluation results, improving the industry credit evaluation coordination mechanism, standardizing the development of market-based credit evaluation, accelerating the integration and application of public credit evaluation and market-based credit evaluation, better leveraging the supporting role of credit evaluation in the financing of small and micro enterprises, improving the evaluation update and adjustment mechanism after credit repair, ensuring smooth channels for handling objections and appeals, and implementing credit evaluation management responsibilities.Italys seasonally adjusted retail sales rose 0% month-on-month in February, compared with 0.60% in the previous month.According to the German business weekly Wirtschaftswoche, Ryanairs CEO expects oil prices to fall soon; he is "optimistic" that fuel prices will drop again in the fourth quarter of this year, or even earlier.On April 2nd, Thai Finance Minister Ekniti stated on Thursday that the Ministry of Energy will recalculate refining and refined petroleum product sales costs by April 6th to curb rising fuel prices. The new calculations will be submitted to the Cabinet for review and should result in lower energy prices. Ekniti has been appointed head of a newly established committee responsible for reviewing fuel cost structures and pricing. He said that under the current circumstances, refining-related calculations may be inflated, and consumers should pay lower prices at gas stations. The Ministry of Energy has been instructed to recalculate reasonable refining and sales costs, verify the actual impact of war-related premiums, and propose mechanisms to ensure cost reductions. He also stated that the government hopes to verify the true "war premium" and other additional costs, such as freight and insurance, to determine the true cost burden borne by refining companies. According to data from the University of the Thai Chamber of Commerce, during the upcoming Thai New Year holiday (April 13th-15th), Thai consumer spending may decrease by 3.7% year-on-year to approximately 130 billion baht (approximately US$3.98 billion) due to factors such as rising oil prices.

Gold Price Prediction: As the USD Index attempts to recover, XAU/USD is likely to encounter resistance near $1,830

Alina Haynes

Feb 24, 2023 14:25

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Gold price (XAU / USD) has detected resistance while extending its recovery above $1,828.00 in the Asian session. As the US Dollar Index (DXY) has attempted a recovery following a correction to around 104.10, the precious metal's bearish pressure appears to be strong. It appears that the risk-taking impulse has subsided and investors are returning to the risk-aversion theme.

 

Following a favorable Thursday, S&P500 futures are showing moderate losses. Global equities are susceptible to extreme volatility as additional announcements of interest rates may be necessary to combat persistent inflation. A small majority of equity analysts surveyed by Reuters anticipated a correction within three months.

 

After a severe correction, yields on US government bonds are still struggling to recover. At the time of writing, 10-year US Treasury Yields were approximately 3.87 percent.

 

Investors will monitor the Personal Consumption Expenditure (PCE) Price Index figures for additional guidance. Annually, the economic data is anticipated to be 4.3% higher than the previous release of 4.4%. The monthly data is anticipated to increase by 0.4%, compared to the 0.3% previously reported. Price pressures in the U.S. economy have shown resiliency following a downward trend, which was driven by a rebound in household expenditure and a positive labor market.

 

The US Department of Labor reported a decline in Initial Jobless Claims (IJC) to 193K on Thursday, below Bloomberg's estimates of 200K. Continuing claims, which include individuals who have received unemployment benefits for a week or more, decreased by 37,000 to 1.65 million in the week ending February 11, according to Bloomberg. This was the largest decrease since December.

 

Undoubtedly, the labor market is exceptionally robust, as evidenced by the declining number of jobless claims, the lowest unemployment rate in decades, and robust job creation. This strengthens the notion that the Federal Reserve (Fed) cannot halt further rate hikes.


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