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September 3rd - RatingDog Chinas services PMI for August was 51.4, up 1.0 percentage point from July, marking the 44th consecutive month in expansion territory, with a slight increase in the pace of expansion. Demand-side growth improved. New business volume increased for the 44th consecutive month, with the growth rate accelerating compared to July. New export business continued to expand for the fourth consecutive month, although the growth rate slowed further from the years high in June. Business expectations for the next 12 months rebounded from the recent low in July. Cost pressures rose slightly, while employment continued to expand. Input price increases rebounded slightly from the six-month low in July, but remained moderate overall. Sales prices rose slightly for the third consecutive month. Employment size rebounded for the fourth consecutive month, marking the longest consecutive growth period since 2023. Overall, the service sector expansion rate in August rebounded slightly from July, with faster growth in business activity and new orders, continued employment expansion, and improved business confidence.Chinas RatingDog Composite PMI for August was 52.1, compared to 50.8 in the previous month.September 3 – According to the Wall Street Journal, sources familiar with the matter revealed that six months ago, when the US launched military action against Iran, Defense Secretary Hergsays pledged a swift and decisive strike to avoid a protracted conflict. Now, he is quietly extending troop deployments, suggesting the conflict could continue into next year. Sources indicated this is part of a US military strategy without a clear timeframe, designed to give Trump more options in a war. However, the deployment of 19 warships, air defense units, fighter squadrons, and paratroopers across the region is increasing pressure on US personnel and their families, while the resulting maintenance backlog could take years to clear. One source stated that the standard deployment period for Army air defense units responsible for intercepting Iranian missiles and drones under high-pressure conditions has been extended from nine months to 12 months. Some units originally planned for deployment in Europe and the Pacific but later redeployed to the Middle East have been deployed for over a year.According to the Kuwait News Agency: Alarms have been sounded nationwide.On September 3, local time, the defense team of Venezuelan President Maduro, who is under the control of the United States, filed a motion in the Southern District of New York Federal Court on September 2, requesting the dismissal of the fourth alternative indictment against him on the grounds of immunity. Judge Alvin Hellestein scheduled the hearing for the motion to be held on the morning of November 17, 2026. The defense team attached a legal memorandum, a statement from Pollack, and several annexes to the request, including a ruling from the Constitutional Court of the Venezuelan Supreme Court dated January 3, 2026, a document from the United Socialist Party, and two rulings from Italian courts. It is understood that the filing of this motion does not mean the case has been dismissed. The prosecution will now respond, and the judge will decide whether this defense claim stands against the charges brought by the United States.

Gold Range Holds Tight Ahead of Fed Meeting

Charlie Brooks

Sep 20, 2022 10:53

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Tuesday, in anticipation of a U.S. Federal Reserve meeting that is expected to result in an interest rate hike, investors refrained from placing major bets on gold prices, holding the price of the precious metal within a limited range.


Spot gold jumped 0.2% to $1,679.14 per ounce around 20:11 EST, while gold futures climbed 0.6% to $1,687.85 per ounce (00:11 GMT). Following a week of dramatic drops, neither instrument has seen notable movement since Monday.


As the U.S. dollar fell on Tuesday, there was a slight lessening of pressure on gold. The dollar stayed at 20-year highs, whilst U.S. Treasury rates soared before the Fed's announcement of interest rate changes.


On Wednesday, it is widely expected that the central bank would increase interest rates by 75 basis points bps, while traders are also considering the possibility of a 100 basis point increase. In August, U.S. inflation remained at 40-year highs, bolstering expectations for a hefty Fed rate hike. The data led to a strengthening of the dollar and a continuation of losses on the metal markets.


The yellow metal is now trading lower for the year as a result of the Federal Reserve's rate rises. Beginning of the Russia-Ukraine conflict coincided with gold's price peak. Recently, gold prices fell below $1,700, which was seen as one of the last remaining points of support before a steeper decline.


Tuesday saw both platinum and silver futures recover from recent losses and advance.


Copper prices for industrial metals climbed by 0.2% to $3.5323 per pound. Recently, though, the dollar has pushed pressure on red metal.


In spite of expected supply shortages due to a strike at the Escondida copper mine in Chile, the outlook for copper prices this year is clouded by signs of a global slowdown in economic growth.