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As of 10:23 on August 24, in terms of capital inflows into domestic futures main contracts, Shanghai Gold 2610 saw an inflow of 1.004 billion yuan, Shanghai Copper 2610 saw an inflow of 933 million yuan, and Lithium Carbonate 2701 saw an inflow of 856 million yuan. In terms of capital outflows, CSI 1000 2609 saw an outflow of 7.601 billion yuan, CSI 2609 saw an outflow of 4.226 billion yuan, and CSI 2609 saw an outflow of 3.337 billion yuan.On August 24th, Futures News reported that Indonesian Coordinating Minister for Economic Affairs Airlangga Hattato stated that the government will not impose export taxes or windfall profits taxes on key commodities such as coal and nickel this year. Airlangga made these remarks in an interview at his office on Friday (August 21, 2026), stating, "The windfall profits tax has not been implemented this year." When asked if it would be implemented next year, he responded that the relevant policy had not yet been discussed in detail. Previously, driven by rising coal prices due to escalating conflicts in the Middle East, the government had actively promoted the imposition of export taxes on these commodities. Finance Minister Purbaya Yudi Sadeva previously stated that the implementation plan for a coal export tax was still under discussion, but also pointed out that the government expected to obtain additional revenue through revisions to the RKAB in 2026. Purbaya stated that President Prabowo had instructed Energy and Minerals Minister Bahriel to revise the 2026 coal production quotas. He added that increased production due to rising coal prices would bring additional revenue to the country, but did not disclose the specific amount. Export taxes are an international trade tax tool levied by Indonesia on specific exported goods, and the revenue has fluctuated in recent years with changes in global commodity prices and export policies.Gold prices rose to their highest level in over three months on Monday, supported by a weaker dollar, as market focus shifted to key US inflation data and Federal Reserve Chairman Warshs speech later this week. Tim Waterer, chief market analyst at KCM Trade, said gold started the week strongly, regaining buying support, primarily driven by a weaker dollar. The market is also paying closer attention to signals that rising yields may signal underlying economic pressures and policy uncertainty. The market will be watching the July PCE price index and Warshs speech at the Jackson Hole symposium this week for new clues about the interest rate outlook. "Traders will be closely watching for any changes in his tone regarding the policy path and how that rhetoric resonates with recent bond market movements. A balanced or cautious tone, leaving room for policy flexibility, could open the door for further gains in gold prices."On August 24th, the Cyberspace Administration of China (CAC) launched a special campaign to "clean up the online entertainment livestreaming scene and rectify the chaos." The CAC has focused on prominent issues such as vulgar and inappropriate content, rules designed to incentivize tipping, and infringement on the rights of minors in entertainment livestreaming. It has continuously intensified its crackdown on illegal and irregular entertainment livestreaming, and has so far dealt with over 7,200 illegal livestreaming rooms and severely punished over 2,200 illegal accounts. Simultaneously, it has guided websites and platforms to remove and dispose of a number of problematic MCN (Multi-Channel Network) agencies involved in livestreaming, issued 17 governance announcements, and publicly exposed typical cases to create a strong deterrent. As a result of the campaign, vulgar content in entertainment livestreaming has significantly decreased, and illegal behaviors such as inducing tipping have been effectively curbed, leading to a marked improvement in the livestreaming ecosystem. Moving forward, the CAC will continue to maintain a high-pressure, strict regulatory stance, intensify its investigation and punishment of illegal accounts and agencies in entertainment livestreaming, guide and urge websites and platforms to improve their entertainment livestreaming management mechanisms, enhance their technical governance capabilities, continuously optimize functions and gameplay, and promote a healthy, orderly, and clean entertainment livestreaming ecosystem.August 24 - The Ministry of Commerce will hold a press conference at 3:00 p.m. on Thursday, August 27, 2026, where a spokesperson will introduce the recent key work in the commercial field and answer questions from reporters.

Gold Price Prediction: XAU/USD tests $1,880 as the US Dollar retreats in advance of Fed Chair Powell's speech

Daniel Rogers

Feb 07, 2023 15:38

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During early Tuesday trading, the gold price (XAU/USD) gains bids to retest the intraday high near $1,876 while printing a two-day rise.

 

In doing so, the precious metal extends its recovery from a monthly low at the start of the week, as the US Dollar's weakness combines with cautious optimism in the market to favor XAU/USD bulls. However, apprehension in front of Federal Reserve Chairman Jerome Powell and US President Joe Biden's State of the Union (SOTU) remarks appears to be challenging metal buyers recently.

 

The modestly optimistic feeling could be attributed to Treasury Secretary Janet Yellen and President Joe Biden's remarks that pushed back US recession fears. In a similar vein, US President Joe Biden's remarks that "the balloon incident did not damage US-China relations" appeared to allay Sino-American concerns.

 

On the other hand, hawkish Fed comments appear to support US Treasury bond yields and the US Dollar. In an interview with Bloomberg, Federal Reserve Bank of Atlanta President Raphael Bostic stated, "The robust job market presumably suggests 'we have a bit more work to do.'" Notably, the stronger US jobs report and activity statistics for January rekindled the Fed's hawkish stance last Friday, but a lack of directions appeared to test the USD bulls subsequently.

 

In this environment, S&P 500 Futures post modest gains, as US Treasury bond rates struggle to extend their two-day recovery from the monthly low. Observe that the US Dollar Index (DXY) has likewise retreated from the one-month peak it reached the day before amid lackluster market conditions.

 

Gold traders should focus on Fed Chair Powell's ability to compliment the most recent good US data as well as US President Biden's State of the Union address.