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Russian Armed Forces Chief of the General Staff Gerasimov: As of 2026, Russia has occupied 1,700 square kilometers in Ukraine.On April 21, it was learned from the Anhui Provincial Key Laboratory of Quantum Computing Chips that Chinas third-generation domestically developed superconducting quantum computer, "Origin Wukong," has initially acquired the capability to integrate artificial intelligence computing and has launched several quantum AI tools, including the quantum knowledge model Origin Brain and QPanda3 Runtime MCP. This breakthrough marks the first time that my countrys independent quantum computing power has been systematically integrated into the AI application ecosystem, propelling my countrys domestically developed quantum computers from "usable" to "easy to use."On April 21, South Koreas newly appointed central bank governor stated that he will adopt a cautious and flexible monetary policy strategy. Currently, rising oil prices are exacerbating inflationary pressures and casting a shadow over the economic growth outlook. On Tuesday, Shin Hyun-song, who succeeded Lee Chang-yong, stated that it is necessary to re-examine the central banks role from a longer-term perspective. He pointed out that structural issues such as demographic changes, inequality, and the real estate market should be considered important components of monetary policy. The new governor stated that the economy is currently facing increasing uncertainty due to the ongoing Middle East crisis. At the same time, rising global energy prices have increased the upside risks to inflation, while the downside risks to economic growth are also increasing. In his inaugural address, he stated, "Due to the supply shocks triggered by the Middle East conflict, uncertainty regarding the path of inflation and economic growth has increased significantly." He pledged to implement monetary policy "in a prudent and flexible manner" to ensure price and financial stability.JPMorgan Chase: Raises its year-end 2026 target for the S&P 500 to 7,600, up from 7,200 previously.On April 21, the Japanese government formally revised its "Three Principles on the Transfer of Defense Equipment" and its application guidelines at a cabinet meeting, allowing the export of lethal weapons in principle. Meng Mingming, assistant researcher at the Institute of Japanese Studies, Chinese Academy of Social Sciences, pointed out that Japans relaxation of arms export restrictions represents a significant shift in its postwar military and security policy. In reality, it is another strategic step by right-wing forces to promote "normalization," and its intentions and potential harms warrant high vigilance. Meng Mingming noted that, in terms of intentions, Japans current economic downturn, high fiscal deficit, severe aging population, and long-term limitations on military production capacity clearly contradict the ambitions of the Japanese right wing to revive militarism and actively expand its military. Therefore, the Japanese government plans to achieve multiple objectives by strengthening its arms export policy. In terms of harms, this relaxation of restrictions on the export of various lethal weapons will fundamentally impact Japans postwar principle of exclusively defensive defense. For Sino-Japanese relations and regional peace, the vast majority of countries to which Japan intends to export weapons are Chinas neighboring countries. By upgrading the weaponry of these countries, Japan is actually bolstering the confidence of anti-China forces within these countries, which will only further exacerbate regional tensions.

Gold and Precious Metals Rise as Dollar Rally Fails to Continue

Skylar Williams

Aug 05, 2022 11:02

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As the U.S. dollar's upward trend began to level out on Thursday, the price of gold and most other precious metals rose.


At 20:56 EST (0057 GMT), the current price of gold was $1,767.41 per ounce, an increase of 0.1 percent. The price of gold futures increased by 0.4% to $1,783.60 per ounce.


Platinum futures gained by 0.1%, while silver futures jumped by 0.6% after falling by 1.0% over the previous two days.


Following a two-day surge, the U.S. dollar dropped, causing precious metals prices to rise. In the past two days, the dollar index has risen around 1 percent, as hawkish comments from two Federal Reserve officials have fueled expectations for more rapid interest rate increases this year.


Mary Daly, president of the Federal Reserve Bank of San Francisco, and Charles Evans, president of the Federal Reserve Bank of Chicago, both opined that inflation is elevated and that the Federal Reserve will likely increase interest rates further to combat rising prices.


Additionally, a potential improvement in U.S.-China ties fueled demand for the dollar as a safe-haven asset.


The U.S. Dollar Index declined by 0.1 percent during Asian trade on Thursday. Futures for the U.S. Dollar Index fell within a comparable range.


Despite the fact that gold appears to have recovered some ground over the past two weeks, the yellow metal's outlook for this year remains bleak due to the possibility of rising interest rates. As the Federal Reserve continues to tighten monetary policy, it is projected that the prices of the vast majority of other precious metals will also undergo muted fluctuations.


On the industrial metals market, copper futures decreased 0.2% to $3.4710 a pound. Futures for Zinc declined by 0.8% while futures for Nickel climbed marginally.


Copper prices dropped significantly this week as a result of a string of poor manufacturing PMIs from across the world. This pattern of poor manufacturing statistics is projected to weigh on industrial metals in the coming months.