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The commander of the Ukrainian drone force stated that a Ukrainian drone attacked an oil refinery in Taganrog, Russia.On May 30th, the Guangdong Provincial Peoples Government announced on its official website that the "Hong Kong vehicles traveling north" policy will be extended for another five years, until June 1, 2031. It is understood that in May 2023, the "Administrative Measures of Guangdong Province on the Entry and Exit of Hong Kong Motor Vehicles via the Zhuhai Port of the Hong Kong-Zhuhai-Macau Bridge" were published, effective from June 1, 2023, for a period of three years. From 00:00 on July 1, 2023, eligible Hong Kong motor vehicle owners, after obtaining approval from the Hong Kong side through an appointment for border crossing, can drive into Guangdong via the Zhuhai Port of the Hong Kong-Zhuhai-Macau Bridge. Data shows that since the implementation of the "Macau vehicles traveling north" and "Hong Kong vehicles traveling north" policies, the number of Hong Kong and Macau passengers entering and exiting through the port has increased by an average of 34% annually, reaching nearly 18 million in 2025. Border inspection authorities predict that the number of Hong Kong and Macau passengers entering and exiting through the port is expected to exceed 20 million in 2026.May 30th - According to several airlines, fuel surcharges for domestic flight tickets sold starting June 5th, 2026, will be reduced. The adjustment standard for adult passengers is: RMB 150 for routes over 800 kilometers, and RMB 80 for routes of 800 kilometers or less. This represents a reduction of RMB 20 and RMB 10 respectively compared to the previous standards. This reduction in fuel surcharges will, to some extent, lower travel costs for passengers.On May 30th, it was reported that on May 29th local time, the Louisiana Senate passed a new congressional district redrawing bill, splitting a district currently controlled by Democrats and predominantly populated by African American voters. The states Republican Governor Jeff Landry subsequently signed the bill into law. Analysts say that with the midterm elections approaching, the struggle between the Republican and Democratic parties over redrawing congressional districts will intensify.May 30th - According to an AFP report on May 29th, Iranian state media reported on the 29th that Iranian authorities are preparing a "grand" funeral for the countrys assassinated former Supreme Leader Ali Khamenei. The funeral had been long postponed due to Irans war with the United States and Israel. Although the specific date is still uncertain, Iranian state television quoted Mohsen Mahmoudi, head of the Islamic Propaganda Coordination Committee, as saying, "A special headquarters has been established to prepare for the funeral, and various departments are currently making preparations and arrangements." Ali Khamenei, who led Iran for more than 30 years, was killed in the first wave of US-Israeli attacks that began on February 28th. His son and successor, Mojtaba Khamenei, was also injured in the attacks and has not made a public appearance since taking office.

Gold Price Prediction: XAU/USD attempts to increase auction profile over $1,840 prior to Fed minutes

Daniel Rogers

Jan 03, 2023 15:06

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After surpassing the crucial resistance of $1,823.00 in the Asian session, the gold price (XAU/USD) has exhibited a robust upward trend. In response to a fall in the desirability of safe-haven assets, the precious metal seeks to raise its auction profile over the $1,840.00 barrier.

 

The momentum has moved to the risk appetite theme as a result of the S&P500 futures' abrupt comeback. In the meantime, the US Dollar Index (DXY) has attempted a rebound after falling close to 103.15, a key support level. Ahead of Wednesday's release of U.S. ISM Manufacturing PMI data, investors should anticipate volatility in the foreign exchange market (Dec). According to predictions, the economic data will decrease to 48.5, from 49.0 previously.

 

The explanation for the lower consensus for ISM PMI data could be the Federal Reserve's (Fed) higher interest rates, which have caused businesses to delay growth plans to avoid incurring greater interest commitments.

 

In addition to the Manufacturing PMI, the Federal Open Market Committee (FOMC) minutes will dominate the news. Investors will closely monitor economic estimates and monetary policy indicators for CY2023.