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According to Zhonglianjin Information Network, sulfur prices generally declined today. In Shandong, Dongming Petrochemical quoted solid sulfur at 7550 yuan/ton and liquid sulfur at 7400 yuan/ton, both down 150 yuan/ton from the previous period; Qicheng Petrochemical and Zhenghe Petrochemical quoted liquid sulfur at 7300 yuan/ton, both down 100 yuan/ton; Huaxing Petrochemical quoted liquid sulfur at 7260 yuan/ton, down 90 yuan/ton; Shangneng Petrochemical and Shenchi Chemical quoted liquid sulfur at 7290 yuan/ton and 7303 yuan/ton respectively, down 60 yuan/ton and 50 yuan/ton respectively; Wantong Petrochemical quoted solid sulfur at 7077 yuan/ton, down 30 yuan/ton. Regarding ports, Zhenjiang Ports price is 7400-7430 yuan/ton, down 30-40 yuan/ton from the previous period; Dafeng Ports price is 7380-7410 yuan/ton, down 30-40 yuan/ton from the previous period. In addition, Qingdao Refining & Chemicals solid and liquid prices remain stable, while Jincheng Petrochemical and Xintai Petrochemical have no prices quoted, and Huifeng Petrochemicals liquid sulfur price is currently unavailable due to unit shutdown.On May 26th, AntLingbo announced a deep strategic partnership with Jianzhi Innovation (Beijing) Robotics Technology Co., Ltd. According to the cooperation plan, the two parties will collaborate on data sharing across AntLingbos full-series embodied intelligent model matrix. They will also jointly develop dedicated data acquisition equipment to continuously improve the accuracy and dimensionality of human data and accelerate the scaling up of high-quality physical real-world data.On May 26, a joint statement was released by the Peoples Republic of China and the Islamic Republic of Pakistan. The statement noted that Pakistan positively appraised the informal trilateral meeting between China, Afghanistan, and Pakistan in Urumqi in April 2026 and welcomed Chinas provision of a dialogue platform for communication between the two sides. Both sides agreed to maintain close communication and cooperation on the Afghan issue. Both sides emphasized that no individual, group, or political party, including the Pakistani Taliban and the East Turkistan Islamic Movement, will be allowed to use relevant territories to undermine or threaten regional security and interests, or to engage in terrorist acts and activities.On May 26, European Central Bank (ECB) Executive Board member Schnabel stated that even if a peace agreement is ultimately reached with Iran, the ECB should still raise interest rates in June, as the conflict has lasted far longer than expected and high energy prices are spreading to broader sectors of the economy. The ECB has kept interest rates unchanged for the past year, but discussed a rate hike last month due to soaring energy costs pushing inflation significantly above the 2% target, with several policymakers signaling the necessity of action. Schnabel stated, "Given the scale and duration of the current shock, I believe a June rate hike is necessary at this point." "Even if the war ends today, energy infrastructure and global supply chains have already suffered significant damage, making a monetary policy response necessary. In terms of sustainability, the situation has actually exceeded our adverse scenario assumption, which presupposes a rapid normalization of oil prices." Schnabel also indicated that some second-round effects may have already begun to emerge, with several surveys signaling this. She said, "We are increasingly seeing this shock spreading to other parts of the consumer basket."ECB Executive Board member Schnabel: (Regarding rising bond yields) I have not seen any worrying developments.

Gold Prices Increase in Response to Inflation Fears And Ukraine Concerns

Charlie Brooks

Apr 08, 2022 09:26

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By 2:13 p.m. ET, spot gold XAU= was up 0.5 percent to $1,934.69 per ounce (1812 GMT). Gold futures in the United States increased by 0.8 percent to $1,937.80.


"Once inflation resumes, which I believe it will, it will work in favor of gold, even in the face of the Fed's aggressive monetary policy," Jim Wycoff, senior analyst at Kitco Metals, said.


The Fed's March meeting minutes revealed growing anxiety among officials that inflation had spread across the economy, with "many" members preparing to hike interest rates in large 50-basis-point increments in the coming sessions. 


Rising interest rates in the United States raise the potential cost of bullion holdings while strengthening the currency.


The dollar index =USD eased off a near two-year high reached earlier in the day, while benchmark US 10-year Treasury rates likewise remained around a multi-year high reached on Wednesday. 


Ukraine has increased its requests for crushing financial penalties to compel Moscow to terminate the conflict, while NATO nations have decided to bolster their support for Kyiv. 


Wall Street's major indexes sank for the third consecutive day, as growth stocks extended losses on worries about a more hawkish Federal Reserve and the Ukraine crisis.


Palladium XPD= increased by up to 3.7 percent to about $2,278 per ounce.


"Palladium has historically been quite volatile. Today's focus is on recouping some of yesterday's losses, "Miguel Perez-Santalla, Heraeus Metals Management's head of trading, sales, and marketing in New York, concurred. (Entire Story)


Russia produces between 25% and 30% of the world's palladium, a metal used by manufacturers to decrease pollution from engine exhausts.


Silver XAG= increased 0.6 percent to $24.58 per ounce, while platinum XPT= increased 0.9 percent to $961.53.