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White House spokesperson: The agreement reached with Iran is in the interest of the American people. Iran will never possess nuclear weapons.June 23 – It has recently been learned that relevant departments have formulated a special policy to support the export of digital culture, covering online literature, online dramas, online games, animation, and digital music. The policy is currently open for public comment. In recent years, digital cultural products such as online literature, online dramas, and online games have created a "China whirlwind" globally, becoming a new engine for cultural consumption and cultural exports. The "content + platform + model" model is accelerating its overseas expansion. From January to April this year, my countrys service trade exports grew by 15%, with personal cultural and entertainment services growing by a remarkable 39.5%. Driven by policy support and industrial development, the international competitiveness of "Chinese services" continues to improve.Japanese Chief Cabinet Secretary Minoru Kihara was aware of the meeting between Finance Minister Satsuki Katayama and U.S. Treasury Secretary Bessenter; however, he declined to comment further.June 23 (KCNA) – The 2nd Enlarged Plenary Session of the 9th Central Committee of the Workers Party of Korea was held from June 20 to 22. At the meeting, Kim Jong Un, General Secretary of the Workers Party of Korea, pointed out that the actions of the US and South Korea this year have seriously deteriorated the situation on the Korean Peninsula, and North Korea will further strengthen its defense capabilities. Kim Jong Un said that since the beginning of this year, the US and South Korea have increasingly promoted activities such as increasing troop deployments in the region, even advancing South Koreas nuclear submarine program, and holding another "Nuclear Consultation Group meeting," all of which have seriously worsened the situation on the Korean Peninsula. Kim Jong Un emphasized the need to accelerate the construction of a 10,000-ton strategic missile cruiser and to focus on the research and production of conventional weapons that are of great significance to enhancing the combat capabilities of the North Korean military. He also pointed out the need to complete the ongoing fortification project on the southern border with high quality and to build a new naval fleet base to strengthen defense capabilities.Japanese Chief Cabinet Secretary Minoru Kihara: No comment on exchange rates.

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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