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On August 24th, at the Xiaomi Xuanjie chip technology communication conference, Xiaomi announced its new product plans. The Xiaomi 18 Fold, the top-of-the-line foldable screen flagship in the Xiaomi 18 series, will be the first to be equipped with the Xuanjie O3 chip, and the new phone is scheduled to be officially launched in September; the Xiaomi Mi Pad 9 Pro Max will also be equipped with the Xuanjie O3 chip at the same time.Iranian Deputy Foreign Minister: (Refuting former Israeli Prime Minister Bennetts claim that Irans military power has been dismantled) To deal with this Iran, the United States needs to launch the "largest financial attack in history" and mobilize "all American institutions and departments"? Is this a victory or a bitter admission of defeat?Ukrainian President Zelensky: We do not ask the United States to protect us, we only hope that they will provide us with the supplies we need to defend ourselves.On August 24th, Hauke Siemssen, interest rate strategist at Commerzbank, stated in a report that the bond market remains fragile due to persistently high oil prices and escalating fiscal concerns. "Global bond markets remain risky, with yield curves across all maturities testing multi-year highs." While the market consolidation this morning was encouraging, a sustained market reversal appears unlikely at present, as there are no easy solutions to the fundamental factors driving the current trend. Siemssen anticipates that this weeks US PCE inflation data and policy signals from the annual Jackson Hole symposium will provide new guidance for the market, and these data and the meeting "should be closely watched."On August 24th, Swissquote strategist Ipek Ozkardeskaya stated that the U.S. Treasurys purchase of bonds to suppress yields could prevent the market from fully pricing in inflation and fiscal risks, and could also limit the markets ability to fully react to the Federal Reserves policy decisions. Therefore, this could increase the difficulty for the Fed to pull inflation back to near its 2% target, which is precisely what Fed Chairman Warsh might want to avoid. She added that Warsh "doesnt want to look like a fool in front of the world." Ozkardeskaya indicated that this weeks Jackson Hole meeting may further clarify how the Fed will integrate with the governments policy plans.

Gold Price Prediction: The XAU/USD pair approaches $1,880 following a robust comeback amid weaker US yields

Alina Haynes

Feb 09, 2023 15:03

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During the Asian session, the gold price (XAU/USD) has renewed its daily high above $1,880.00. As market participants' risk appetite has increased, the gold price has climbed sharply higher after recovering from $1,872.00. The precious metal is anticipated to extend its uptrend over $1,880.00 with confidence, as lower US Treasury yields have mitigated the risk-averse inclination.

 

The yields on 10-year US Treasury bonds have decreased to approximately 3.61 percent. S&P500 futures have rebounded in the Asian session following a decline on Wednesday. The expectation that the Federal Reserve (Fed) will not be aggressive in the future in hiking interest rates supports the 500-US stock index.

 

In the meantime, the US Dollar Index (DXY) is battling to maintain above 103.00, despite the fact that the market has begun anticipating a Fed interest rate rise above 5%.

 

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., advised against prematurely declaring victory against inflation, saying that the Federal Reserve could hike interest rates above 5% if higher prices become "sticky," as reported by Reuters. He stated that Fed Chair Jerome Powell must exceed 5% if inflation does not fall to between 3.5% and 4%.


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