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May 9th - The Ministry of Commerce will hold a special press conference on the APEC Trade Ministers Meeting at 15:00 on Saturday, May 9th, 2026, in the Ministrys press conference hall.On May 9th, it was reported that on May 8th, Ling Ji, Vice Minister of Commerce and Deputy Representative for International Trade Negotiations, met with Doumont, Director-General of the Treasury of the French Ministry of Economy, Finance and Industry, Energy and Digital Sovereignty. The two sides exchanged views on Sino-French and Sino-EU economic and trade relations. Ling Ji stated that under the strategic guidance of the two heads of state, Sino-French economic and trade cooperation has been continuously deepening, with diversified development in trade and investment. China is willing to work with France to implement the Memorandum of Understanding on Strengthening Sino-French Bilateral Investment, providing an open, fair, and non-discriminatory business environment for investment cooperation between enterprises of both sides. China is highly concerned about the series of foreign subsidy investigations launched by the EU against Chinese enterprises investment and trade, as well as the recently released draft amendments to the Industrial Accelerator Act and the Cybersecurity Act, among other trade and economic restrictive tools. China believes these constitute trade and investment barriers and institutional discrimination, which will seriously affect normal Sino-EU economic and trade cooperation and the stability of global supply chains. China hopes that France will play a positive role in promoting open markets within the EU and properly resolving Sino-EU economic and trade differences and frictions through dialogue and consultation.On May 9th, Futures News reported that from a macroeconomic perspective, Trumps primary objectives are to secure low-priced Middle Eastern oil, curb Irans nuclear program, and expand the dollars dominance in oil settlements, rather than perpetuating an energy price crisis. The likelihood of a macroeconomic upside is relatively high, but further analysis is needed. If the escalation of the US-Iran situation leads to a continued surge in oil prices and stagflation, the market will price gold as an inflation hedge and safe haven, thus boosting silver. However, weakness in the industrial sector will drag down silver, limiting its upside potential or causing a pullback. Conversely, if the Middle East situation does not lead to stagflation, and the Federal Reserve begins raising interest rates to mitigate inflation risks, silver will be under pressure. If US-Iran relations ease and the Strait of Hormuz resumes normal navigation, oil prices may fall significantly, and the market may price in a Fed rate cut this year, leading to an upward correction in silver prices. Overall, looking ahead to the second quarter, given the possibility of a breakthrough in the Middle East situation, the logic of a Fed rate hike this year may be disproven. Coupled with the supply and demand situation of regional market differentiation but persistent overall deficits, silver prices are likely to continue their moderate rise.On May 9th, NIO posted on social media to refute rumors that it had been summoned for questioning, stating that they were pure fabrication.On May 9th, JiKrs legal department posted on social media that they have recently noticed a group of social media accounts maliciously spreading information such as "eight new energy vehicle companies were summoned for talks," and using AI software to fabricate false information that JiKr had been "summoned for talks," which has greatly damaged JiKrs brand reputation. JiKr has not received any such "summoning" information. Regarding these malicious attacks and defamation, we have collected and secured evidence and will protect our rights in accordance with the law.

Gold Price Prediction: XAU/USD treads water below $1,700 due to pre-Fed jitters

Alina Haynes

Sep 20, 2022 14:34

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During Tuesday's early European morning, the gold price (XAU/USD) trades near $1,676 as it attempts to preserve Friday's rebound from the two-year low. In doing so, the bullion reflects the market's uneasiness preceding significant central bank statements, as well as trade and geopolitical concerns emerging from Russia and China.

 

Fears that the US dollar has already priced in the Fed's 0.75 percentage point rate hike and that there is no more room for the greenback to appreciate have recently impacted on the US currency. There may be a connection between the dismal US housing data and inflationary expectations and the anxieties.

 

The US NAHB Housing Market Index decreased for the ninth straight month to 46, compared to 48 anticipated and 49 previously. In spite of this, US inflation expectations, as measured by the 10-year breakeven inflation rate according to the St. Louis Federal Reserve (FRED) statistics, fell for the third consecutive day to a two-month low near 2.34 percent by the end of the North American trading session on Monday. Moreover, according to FRED statistics, the 5-year breakeven inflation rate plummeted to its lowest level since September 2021, at 2.44 percent. Concerns were raised regarding the market's unexpected reaction to the Fed's hawkish wagers.

 

On the other hand, the European Commission's willingness to use emergency power to prevent a supply crisis seems to have combined with hawkish statements from European Central Bank (ECB) policymakers to support the XAU/USD upward via a weaker USD. In addition, the relative quiet surrounding the US-China conflict over Taiwan and China's covid unlocks is beneficial for metal prices.

 

Nonetheless, multi-day high yields and general forecasts of increased interest rates in the face of economic slowdown worries appear to put the gold price under pressure. In addition, the news that the holdings of the SPDR Gold Trust, the largest gold-backed exchange-traded fund in the world, fell to 30,799,131 ounces on Monday, the lowest level since March 2020, adds to the negative catalysts for XAU/USD traders.

 

However, the second-tier US housing data may provide timely guidance prior to the FOMC meeting on Wednesday. Given the Fed's heightened expectations, any disappointment will not be taken lightly and may offer the XAU/USD with the much-needed boost from its yearly low.


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