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On September 17, Chery Automobile announced on the Hong Kong Stock Exchange that it plans to issue 297,397,000 H shares (subject to the exercise of the over-allotment option) for its Hong Kong listing, with a price range of HK$27.75 to HK$30.75. The price is expected to be completed on September 23. The shares are expected to begin trading on the Hong Kong Stock Exchange on September 25.September 17th news, Google (GOOG.O) has been trying to catch up with OpenAI in the field of generative artificial intelligence, and now it seems to have finally made progress among users. This week, Googles Gemini application took the first place in the Apple App Store free application rankings, surpassing ChatGPT, which led the generative artificial intelligence craze nearly three years ago. Googles Gemini AI model has recently launched some updates, attracting new users. Last month, Google released an upgraded version of its "Flash" AI model, 2.5 Flash Image, which added an image editing feature called Nano Banana. Josh Woodward, head of the Gemini application, said that this product brought 13 million new users to the Gemini application in just four days, bringing its total number of users since its launch to 23 million.According to Japans Asahi Shimbun: Japan will postpone recognizing the State of Palestine.On September 17th, several major US tech companies announced they would invest over $40 billion to expand the UKs AI infrastructure, a significant boon for the country, coinciding with a state visit from President Trump. Microsoft (MSFT.O) said on Tuesday it would invest $30 billion in UK AI infrastructure and existing operations by 2028, its largest financial commitment yet in the country. Google (GOOG.O) said it would invest approximately $6.8 billion in AI, R&D, and related engineering in the UK over the next two years. Meanwhile, Nvidia (NVDA.O), OpenAI, and British company Nscale are collaborating to build AI infrastructure in the UK to meet OpenAIs computing needs. The project, called "Stargate UK," is expected to be located in northeast England and utilize tens of thousands of Nvidias Grace Blackwell Ultra graphics processing units. Among other investments, AI cloud computing company CoreWeave plans to invest approximately $2.04 billion in AI data center capacity and operations in the UK. Salesforce announced it would invest a further $2 billion in its UK operations by 2030, while BlackRock will pour £500 million into data centers across the UK.On September 17th, local time, it was learned on the 16th that Israels Intelligence and Secret Service (Mossad) deployed 100 foreign agents in Iran at the start of the Israel-Iran conflict in June of this year. Israels Channel 13 reported that day that, according to information disclosed publicly for the first time by the Israeli Mossad, the agency established a "small army" of 100 foreign agents in Iran at the beginning of the Israel-Iran conflict in June of this year. Their mission was to destroy Irans numerous missile launchers and air defense systems at the outset of the conflict. The report said that these agents were well-trained and capable of operating missile systems weighing hundreds of kilograms. These missile systems were smuggled into Iran and used to attack Iranian ballistic missile launchers and air defense missile systems. This was reportedly the largest operation by the Israeli Mossad to date.

Gold Steadies Above $1,700, But U.S. CPI Surprise Darkens Outlook

Haiden Holmes

Sep 14, 2022 10:42

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Gold prices held just around $1,700 on Wednesday, remaining under pressure as stronger-than-expected U.S. inflation data foreshadowed potential dollar gains.


Spot gold remained flat at $1,701.87 per ounce at 19:21 EDT, while December gold futures fell 0.3% to $1,712.25 per ounce (23:21 GMT).


Tuesday's decrease in the price of bullion was spurred by news that the U.S. consumer price index rose more than expected in August, bolstering expectations that the Federal Reserve will continue to tighten monetary policy this year. Spot gold briefly exceeded the primary support level for the year, $1,700, for the yellow metal.


If gold prices remain continuously below $1,700, analysts believe that losses will intensify dramatically.


After the announcement of CPI data, the dollar rose, gaining 1.7% on Tuesday and recovering its position near its 20-year highs, exerting more downward pressure on metal prices.


Ahead of the Fed meeting next week, where it is widely predicted that the central bank would raise interest rates by 75 basis points, investors refrained from making major gold trades. Due to sustained inflation, the November meeting of the bank is likely to result in a similar hike.


Wednesday, the dollar's gain weighed on the value of other precious metals. The price of silver decreased 0.9%, while platinum futures decreased 0.2%.


Gold and other precious metals have slumped significantly from their early-year peaks, as investors sought greater yields in the dollar and sovereign debt due to a rapid rise in interest rates.


Copper prices were flat on Wednesday, following a more than 2% decline in the prior session. Its falls were primarily due to the strength of the dollar.


A strike at the world's largest copper mine, Escondida, in Chile has prompted traders to predict a tighter supply of the red metal. As a result, the price of red metal has increased in recent sessions.


However, slowing global economic growth, particularly as interest rates continue to climb, is predicted to lower demand and mitigate supply shortages.

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