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On February 8, Anlu Technology announced that its shareholders, namely the National Integrated Circuit Industry Investment Fund, Shenzhen Siqi, Silan Venture Capital, Silan Microelectronics, Anxin Partnership, Anluxin Partnership, and Xintian Partnership, plan to reduce their holdings by no more than 4% of the companys shares in total.February 8th - Iranian President Peskov stated on February 8th local time that the talks between Iran and the United States, facilitated by friendly countries in the region, were a step forward. Dialogue has always been a strategic choice for resolving issues peacefully. Iran and the United States held indirect talks on February 6th in Muscat, the capital of Oman. US President Trump stated on February 6th that the United States would resume negotiations with Iran earlier next week. He reiterated that Iran cannot possess nuclear weapons.February 8th - According to data from the Comprehensive Transportation Spring Festival Travel Task Force, on February 7th, 2026 (the 6th day of the Spring Festival travel rush), the total number of cross-regional passenger flows in the whole society reached 222.51 million, an increase of 5.3% compared with the previous day and an increase of 3.9% compared with the same period in 2025.February 8th - Australias two main opposition parties, the Liberal Party and the National Party, have reinstated their long-standing coalition after a split over a new anti-hate speech law. According to a joint statement from the leaders of both parties, the coalition officially resumed on Sunday. The coalition has held nearly two-thirds of the seats in power since World War II, but suffered a crushing defeat in last years election, leaving it with less than a third of the seats in the lower house of parliament. The partnership between the two center-right parties collapsed last month following the Bondi Beach terrorist attack and the subsequent Labor governments crackdown on hate speech.February 8th - The China Earthquake Networks Center officially measured a 3.8-magnitude earthquake in Luding County, Ganzi Prefecture, Sichuan Province at 14:06 on February 8th, with a focal depth of 10 kilometers. According to the Luding County Publicity Department, the earthquake was felt in the area. The Luding County Emergency Management Bureau is currently assessing the situation, and there are no reports of casualties or property damage so far.

Gold Prices Are at A 6-week Low as The FOMC Minutes Approach

Aria Thomas

Feb 22, 2023 11:57

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Gold prices stayed just above a six-week low on Wednesday, as markets remained cautious ahead of the release of the minutes from the Federal Reserve's February meeting and stronger-than-anticipated U.S. economic data bolstered the dollar.


In the wake of stronger-than-anticipated January inflation figures, bullion prices traded within a narrow band throughout the week. Along with indicators of resilience in the U.S. economy, they provide the Fed with sufficient space to continue rising interest rates.


At 19:13 E.T., spot gold was unchanged at $1,835.83 per ounce, while gold futures increased 0.1% to $1,845.70 per ounce (00:13 GMT). It is widely anticipated that the Fed's aggressive tone would be reaffirmed in the minutes due later in the day.


This week, the Fed's favored inflation indicator, the Personal Consumption Expenditures price index, will be released on Thursday. It is anticipated that the index stayed quite high in January.


Increasing interest rates are unfavorable for non-yielding assets such as gold and other precious metals because they boost the dollar and Treasury yields and the opportunity cost of owning gold.


The U.S. PMIs for February were also better than anticipated, according to statistics released on Tuesday. Any evidence of resilience in the U.S. economy offers the Fed greater room to continue raising interest rates, as the bank has said it would do in the near future.


But, fears about a potential U.S. economic downturn continued, especially in light of Tuesday's statistics showing a weakening housing market.


Other precious metals maintained a narrow trading range on Wednesday. Futures for platinum increased 0.1% to $945.95 per ounce, while futures for silver increased marginally to $21.900 per ounce.


Copper futures rose substantially on Tuesday as a result of the U.S. PMIs that were stronger than anticipated.


On Wednesday, high-grade copper futures stayed near a three-week high of $4.2170 per pound, following a 0.8% increase in the previous session.


The red metal was also boosted by confidence over China's economic rebound, particularly after the country maintained record-low interest rates this week.

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