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December 22nd - Recently, in the Israeli-controlled areas east of the "Yellow Line," the withdrawal line established in the first phase of the Gaza ceasefire agreement, several Palestinian armed factions are attempting to expand their influence and gain dominance, vying to fill the vacuum left by the departure of Hamas. It is reported that at least five armed factions are currently active in the Israeli-controlled areas, openly stating their intention to play a role in the Gaza Strip after Hamass downfall. Fearing a threat to their position in Gaza, Hamas is cracking down on these factions, while the people of Gaza fear that the region may slide into civil war.On December 22nd, local time, the Russian Ministry of Defense released a war report stating that over the past day, Russian forces had secured more advantageous defensive lines and positions in all directions, advancing deeper into Ukrainian defenses. Russian forces targeted Ukrainian defense industry enterprises, energy, transportation, and warehousing infrastructure supporting Ukrainian troops, long-range drone assembly sites, and temporary outposts of Ukrainian troops and foreign mercenaries. On the 21st, the Ukrainian Armed Forces stated that, affected by the rapid advance of Russian forces, Ukrainian troops had withdrawn from several positions near the Russian-Ukrainian border in Krasnopyria, Sumy Oblast. Currently, Ukrainian forces are continuing operations along the border, eliminating Russian manpower, and Russian forces are currently under Ukrainian fire.Conflict Status: 1. Ukraine claims infrastructure in Odessa region was attacked. 2. Russia has deployed its 5,500-kilometer Hazel missile to Belarus. Other Developments: 1. French Presidential Palace: The method of dialogue between the French and Russian presidents will be determined within days. 2. US intelligence indicates that Putins war objectives in Ukraine remain unchanged. 3. The Ukrainian delegation held a series of meetings with the US and EU; the US envoy described them as "productive." 4. Kremlin: Putin is ready to engage in dialogue with French President Macron if both sides share a common political will. On December 22, Biren Technology announced on the Hong Kong Stock Exchange that it plans to issue 247,692,800 H shares in its Hong Kong listing (subject to the exercise of the offering adjustment right and over-allotment option), with a pricing range of HK$17 to HK$19.6 per share. Trading of the H shares is expected to commence on January 2, 2023.Ukrainian negotiator Umerov: He will hold another meeting with the US team on Sunday.

Gold Stabilizes Before Fed Minutes, As Copper Falls on China Worries

Skylar Williams

Jan 04, 2023 11:33

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On Wednesday, gold prices remained at six-month highs, stopping a recent rally, as traders re-entered the dollar in anticipation of fresh monetary policy hints from the Federal Reserve's December meeting minutes.


Concerns about an imminent recession and a potential halt in U.S. interest rate hikes increased the demand for safe havens other than the dollar, which contributed to gold's strong start to the new year.


Wednesday, however, the dollar recoup some of its previous losses due to uncertainty around the release of the Fed's minutes. In light of several inflation indicators indicating that U.S. price pressures have likely peaked, the markets will be observing whether central bank members supported a further softening of interest rate hikes at their December meeting.


The probability that the Federal Reserve will raise interest rates by an even more modest 25 basis points in February is currently priced at over 90% by the markets.


As of 19:22 EST, spot gold fell 0.1% to $1,838.66 per ounce, while gold futures down 0.1% to $1,844.65 per ounce (00:22 GMT). Both assets increased by more than 1 percent on their first full trading day of the year.


The International Monetary Fund's prediction of a possible recession in 2023 spurred some investors to purchase gold, as the possibility of a U.S. recession lessens the appeal of the dollar.


Due to this warning and rising concerns about China's sluggish economic recovery, copper prices had a poor start to the new year. On Wednesday, copper futures were flat at $3.7707 per pound after losing nearly 2% the day before.


Given its extensive industrial application, the red metal is susceptible to fluctuations in economic forecasts. As a result of China's production slowdown caused by COVID-related delays, copper prices fell by around 11% in 2022.


Despite the fact that a number of anti-COVID measures were lifted in December, the country is now facing an unprecedented increase in the virus' transmission, which analysts say may postpone the reopening of a larger portion of the airport.


However, the anticipation of slower rate hikes by the Federal Reserve is expected to support metal markets in the near future, particularly if the dollar loses additional ground. In the fourth quarter of 2022, the dollar declined significantly, allowing commodity markets to regain lost ground.

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