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On May 30th, the State Administration for Market Regulation announced that, in order to adapt to the needs of combating and rectifying pyramid schemes under the new circumstances, protect the legitimate rights and interests of natural persons, legal persons, and unincorporated organizations, and maintain market order and social stability, it has organized the revision of the "Regulations on Prohibiting Pyramid Schemes," resulting in the "Draft Regulations on Prohibiting Pyramid Schemes (Revised Draft for Public Comment)," which is now open for public comment. The public comment period is from May 29th to June 28th, 2026. The draft revisions focus on the following aspects: adding specific content on combating online pyramid schemes; strengthening the working mechanisms and measures for preventing and combating pyramid schemes; and increasing the legal liabilities for pyramid schemes.On May 30, at the invitation of Valentina Matviyenko, Chairwoman of the Federation Council of Russia, and Volodin, Chairman of the State Duma, Zhao Leji, Chairman of the Standing Committee of the National Peoples Congress, paid an official friendly visit to Russia from May 27 to 30. In Moscow, he held separate talks with Matviyenko and Volodin and attended the 11th meeting of the China-Russia Parliamentary Cooperation Committee. Zhao Leji stated that the exchange mechanism between the legislative bodies of China and Russia is increasingly完善 (perfected/improved), playing an important role in optimizing the legal environment for bilateral cooperation and consolidating the public opinion foundation of bilateral relations. Both sides should, based on the functions and responsibilities of their legislative bodies, maintain the good momentum of multi-level and multi-field exchanges, enhance mutual understanding and trust, strengthen exchanges and mutual learning, and better serve the development of the China-Russia comprehensive strategic partnership of coordination for a new era. Exchanges of legislative experience should be conducted in areas such as national security, ecological and environmental protection, artificial intelligence, and foreign-related legal affairs.According to AXIOS, the first Windows PCs equipped with NVIDIA (NVDA.O) chips will be unveiled next week.On May 30th, Xiaomi officially unveiled its end-to-end optimization solution for the inference system of the MiMo-V2.5 series models. According to Xiaomi, the team systematically reconstructed the entire inference stack, from KVCache management, hierarchical caching, and prefix caching to scheduling strategies and the Prefill/Decode link, based on a hybrid architecture of Hybrid SWA+MoE+multimodal. KVCache storage was compressed to approximately 1/7 of comparable solutions, significantly reducing inference costs in long-sequence scenarios—this is the core technological foundation for this price reduction. On May 27th, the MiMo-V2.5 series API underwent a permanent price reduction, with a maximum reduction of 99%, regardless of input length.On May 30, the nations first green computing power full-stack AI platform was officially launched in the Hohhot Area of the Inner Mongolia Pilot Free Trade Zone, filling the gap in the regions one-stop computing power model word element comprehensive service transaction.

Gold Price Prediction: XAU/USD falls to roughly $1,810 despite a weakening US Dollar during the holiday week

Daniel Rogers

Dec 28, 2022 10:42

截屏2022-05-27 下午2.51.53.png

 

After failing to sustain above the crucial resistance of $1,830.00 on Tuesday, the gold price (XAU/USD) is falling at a steady clip in the Asian session. The precious metal had a furious swing but was unable to maintain control as the US Dollar Index (DXY) defended the downside and recaptured the 104.00 barrier. The price of gold has decreased to approximately $1,810.00 per ounce and is volatile despite decreased trading volume due to the holiday season.

 

In the meantime, the risk profile has changed as S&P500 market participants have shown a desire to sell. S&P500 futures have maintained their poor performance and will remain on edge in the absence of a crucial catalyst. Ten-year US Treasury yields have experienced a slight selling pressure, but continue to hold at 3.85 percent.

 

The reduction in demand for US Durable Goods and the fast decline in the Personal Consumption Expenditure (PCE) Price Index have increased the likelihood that the Federal Reserve (Fed) will reduce its policy rates sooner rather than later. ING economists concur that the recession will accelerate inflation's decline, allowing the Fed to reduce interest rates before the end of CY2023.

 

After a failed breakout attempt, the Gold price has reversed into the ascending triangle pattern on a four-hour scale. The horizontal resistance of the aforementioned chart pattern is drawn from the high on December 13 of about $1,824.55, while the upward trendline is drawn from the low on November 28 of $1,738.73.

 

At $1,807.00, the gold price is still above the 20-period Exponential Moving Average (EMA), indicating that the uptrend is robust. In the meantime, the Relative Strength Index (RSI) (14) has failed to persist above 60.00 and has dipped into the area of 40.00-60.00, indicating an impending consolidation.


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