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Conflict Updates: 1. The UAE reports an attack on a ship in the Strait of Hormuz. 2. Lebanon condemns Israeli attacks on southern Lebanon as a violation of the framework agreement. 3. Israeli airstrikes in Lebanon kill 11. 4. Lebanon condemns Israeli attacks on southern Lebanon as a violation of the framework agreement. 5. The UAE Foreign Ministry condemns Irans attack on an ADNOC vessel. 6. Israeli airstrikes on the southern Lebanese town of Deir Zahrani kill 4 and injure 17. 7. Irans Communications Minister: Over 500 telecommunications sites have been attacked during the war, and some facilities were hit again after being repaired and service restored. 8. According to Saudi Arabias Al Arabiya TV: The Yemeni military vowed a strong response to the Houthi attack on the port city of Mocha. 9. Israeli Prime Minister Netanyahu: Hezbollah violated the ceasefire agreement in Lebanon and attacked our fighters within the "yellow line." In response, the Israel Defense Forces attacked the Hezbollah command post that issued the order for the attack. Strait of Hormuz: 1. A maritime accident occurred in the Strait of Hormuz; a bulk carrier was hit by an unidentified flying object. 2. Iran and Oman have reached an agreement on shipping routes through the Strait of Hormuz. 3. Iranian Foreign Minister: The United States must meet (Irans) conditions before shipping through the Strait of Hormuz can resume. 4. Iranian Foreign Minister: Qatar and Pakistan are exchanging information with us, but this is not a negotiation. The talks between Iran and Oman are being conducted independently, focusing on sea routes through the Strait of Hormuz. Other Matters: 1. US media: Trumps demands are putting pressure on the US Navy. 2. Iranian Foreign Minister: Iran has not yet decided whether to resume negotiations with the United States. 3. Bandar Abbas International Airport resumes flight operations today. 4. Iran and Tajikistan sign a long-term oil cooperation agreement. 5. Head of Mocha Port, Yemen: The port of Mocha in Yemen ceased operations after the Houthi attack. 6. US media: The root cause of the US aircraft carrier predicament lies in the attack on the logistics hub of the Bahrain base in the early stages of the war. 7. According to Iranian media Fars News: Iranian military officials say three Iranian Air Force personnel went missing after an operation targeting US bases in March and are currently being held in Qatar. 8. The head of Irans Energy Optimization Organization: As part of three ongoing proposals to manage Irans gasoline supply, Iran is considering a proposal to allocate 30 liters of gasoline per person per month, and that this quota be transferable and tradable.According to Sky News: Yemeni sources say Yemeni air defense forces responded to a Houthi drone attack over Mocha, Hodeidah province.According to Fox News, Harvard has made a significant investment of up to $2.2 billion in SpaceX (SPCX.O).On August 16th, Iranian Foreign Ministry spokesman Bagaei stated on the 15th that the current situation in the Strait of Hormuz is a direct result of the "illegal actions" of the United States and Israel. Recently, the US and Iran have engaged in fierce exchanges over the Strait of Hormuz, with both sides making frequent statements and refusing to compromise. Analysts point out that the continued standoff and irreconcilable differences may lead to a cyclical situation, making full navigation through the Strait of Hormuz unlikely in the short term. Analysts believe that the current standoff between the US and Iran over the Strait of Hormuz makes significant concessions from either side unlikely in the short term. Unless the US decides to launch a new large-scale military strike against Iran, the ongoing stalemate will not change significantly, and Trumps ambition to "defeat Iran" and "incorporate the Strait of Hormuz into US territory" will remain mere rhetoric.On August 16th, it was reported that the Houthi rebels in Yemen have launched a series of large-scale missile and drone attacks on the important port of Mocha. On the 15th, the port administration announced that the attacks had caused severe damage to port infrastructure, and all port operations had ceased. Mocha is one of Yemens most important ports, strategically located only 65 kilometers from the Bab el-Mandeb Strait and 6 kilometers from international shipping lanes connecting the Indian Ocean, the Arabian Sea, the Red Sea, and the Suez Canal. According to port officials, between August 9th and 14th, Mocha was attacked by 40 ballistic missiles and 46 drones. In addition, ships carrying explosives also launched attacks on the port from the water.

Gold Price Prediction: XAU/USD sellers try to maintain control ahead of an imminent bear cross

Daniel Rogers

Sep 05, 2022 16:26

 截屏2022-07-29 上午11.06.12.png

 

Bears must regain footing below $1,700 to resume their downward momentum. The next cushion is located at $1,690, which corresponds to the rising trendline support. Below a break of the yearly lows, a test of the 2021 low of $1,677 is possible if the decline accelerates below the latter.

 

"The 21-day moving average (DMA) is poised to cross below the 50-day moving average (DMA), which, if confirmed by a daily closing price, will constitute a bear cross. The bearish crossover will lend credence to the metal's bearish prospects.

 

"The initial barrier for bulls will be Friday's high of $1,718, above which the $1,720 round figure could come into play. The August 31 high of $1,727 could be difficult for buyers of XAU."