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According to TASS, citing the Russian Ministry of Defense, Russia has struck a logistics center in the Sumy region of Ukraine.The China Earthquake Networks Center officially reported that a magnitude 2.9 earthquake occurred at 15:21 on August 4 in Haifeng County, Shanwei City, Guangdong Province (23.04 degrees north latitude, 115.42 degrees east longitude), with a focal depth of 10 kilometers.August 4th - Apples annual sales in India surpassed $10 billion for the first time in the last fiscal year, highlighting surging demand for its high-priced electronics and Apples continued expansion of its retail channels in India. Sources familiar with the matter revealed that Apples revenue in India achieved double-digit growth in the 12 months ending March this year, compared to approximately $9 billion in sales the previous year. The sources indicated that the iPhone, Apples flagship product, accounted for the vast majority of sales, while demand for the iPad and MacBook also increased. This previously undisclosed data is a significant boon for Apple in exploring new growth markets. Although the Indian market still represents a relatively small portion of Apples global business, this South Asian nation is gradually becoming one of Apples most important sales regions outside of the United States and China.Market news: Apples annual sales in India have surpassed $10 billion for the first time.On August 4th, when a Russian assault force approached Ukrainian defensive positions on a stretch of the front line east of Donetsk, they encountered an unexpected adversary: a combat robot equipped with a flamethrower. According to the chief engineer of the Ukrainian 93rd Independent Mechanized Brigade, as Russian troops occupied positions near a forested area, the robot began its operation, turning the surrounding dry summer grass into a "sea of fire." Ukrainian machine gun teams then launched an attack, mopping up the surviving attackers. This robot, deployed last August in the "Dobropillia axis," is part of Ukraines expanding unmanned ground vehicle (UGV) force. These vehicles are equipped with a variety of weapons, from rifles to rocket-propelled grenade launchers. Ukraine aims to produce at least 50,000 such robots this year for battlefield use, enhancing the combat effectiveness of human forces confronting Russian troops.

Gold Price Prediction: XAU/USD Holds Steady Near $1,960 Amid Weaker US Treasury Yields

Alina Haynes

Mar 28, 2023 14:55

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The XAU/USD pair rebounded after hitting a low of $1,944 on Monday, following a significant drop from $2,000 on Friday. As concerns about a banking crisis subsided on Monday, investors shifted away from safe-haven assets such as gold and into speculative assets such as equities and petroleum oil.

 

Monday's acquisition of Silicon Valley Bank (SVB) assets by a regional U.S. lender, First Citizens BancShares, led to the unwinding of Gold trades. First Citizens announced that it would expand its presence in California by assuming $110 billion in assets, $56 billion in deposits, and $72 billion in loans. The Federal Deposit Insurance Corporation (FDIC) holds approximately $90 billion in securities for sale.

 

In addition, Bloomberg reported that US regulators are contemplating expanding an emergency lending facility for banks so that First Republic Bank (FRC) has additional time to strengthen its balance sheet.

 

These banking sector developments have increased investors' risk appetite and instilled a sense of composure. Consequently, yields on U.S. Treasury bonds make sense during a relief rally. This new development encourages the Federal Reserve (Fed) to concentrate on the inflation outlook and contemplate rate increases if required.

 

Recent Fed commentary from members such as Kashkari (a voter), ultra-hawkish Bullard, and Fed Vice-Chair of Supervision Barr suggests that inflation is a higher priority than the banking crisis. Fed officials appear comparatively resilient in the face of banking stress, asserting that the US banking system's underlying fundamentals remain robust.

 

Monday's increase in U.S. Treasury bond yields can be attributed to a relief rally, but it is too soon to conclude that it represents a definitive yield shift. Any further deterioration of the banking liquidity crisis could cause yields to decline and gold to reclaim the $2,000 threshold. Personal Consumption Expenditures (PCE) data for the United States are scheduled for release later this week.

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