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On March 16, the Yemeni Houthi armed forces said on the 16th that the US militarys air strikes on many places in Yemen on the 15th have killed at least 20 people. The Yemeni Houthi armed forces also stated that they will not remain indifferent to the US military attacks. The Houthi armed forces are fully prepared to "escalate against escalation." The Yemeni Houthi armed forces said on the 16th that the US militarys air strikes on many places in Yemen on the 15th have killed at least 20 people. The Yemeni Houthi armed forces also stated that they will not remain indifferent to the US military attacks. The Houthi armed forces are fully prepared to "escalate against escalation."According to the Philippine Institute of Volcanology and Seismology, a magnitude 5.1 earthquake occurred in the sea near Surigao del Norte Province, Philippines at around 9:10 am on March 16, with a focal depth of 10 kilometers. The earthquake is not expected to cause any damage, but there will be aftershocks.On March 16, French President Emmanuel Macron said in an interview published by French media on the evening of the 15th that if Russia and Ukraine achieve a ceasefire, France is willing to talk with Russia on the arrangements for providing security guarantees to Ukraine, including "direct communication" with Russian President Vladimir Putin. Macron said in the interview that the consensus reached on a temporary ceasefire in the US-Ukraine-Saudi talks was "an important progress" and now "the pressure is on Russia." If Russia is considered to have no sincerity in participating in the peace process, US President Trump is expected to increase sanctions and pressure on Russia. Macron said that "many countries", including some non-European countries, have expressed their willingness to participate in the "volunteer alliance" proposed by France and Britain to provide security guarantees for Ukraine after the future ceasefire, and each participating country is expected to send thousands of soldiers. Macron also expressed opposition to the confiscation of Russias frozen assets in the interview, believing that this "violates international rules."March 16 news, March 16, Baidu officially released Wenxin Big Model 4.5 and Wenxin Big Model X1. At present, the two models have been launched on the official website of Wenxin Yiyan and are open to users for free. At the same time, Wenxin Big Model 4.5 has been launched on Baidu Smart Cloud Qianfan Big Model Platform, and enterprise users and developers can log in to call the API; Wenxin Big Model X1 will also be launched on Qianfan soon. Baidu Search, Wenxiaoyan APP and other products will gradually connect to Wenxin Big Model 4.5 and Wenxin Big Model X1.According to the European-Mediterranean Seismological Center, a 4.7-magnitude earthquake occurred off the coast of central Chile at 21:22 local time on March 15, with a focal depth of 27 kilometers. No casualties or property losses have been reported so far.

Gold declines, awaiting more indications of rising U.S. interest rates

Haiden Holmes

Aug 12, 2022 11:11

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On Thursday, the December gold futures contract on the New York Comex fell $6.50, or 0.4%, to $1,807.20 per ounce.


It was gold's first loss in four days since last week's erratic U.S. employment data, which surprisingly drove the yellow metal back into the bullish $1,800 zone, rather than the sub-$1,700 red zone that many had predicted.


The spot price of bullion, which is monitored more carefully by some traders than futures, decreased by $6.51, or 0.4%, to $1,786.70 at 16:00 ET (20:00 GMT).


The most recent decrease in gold happened after data showing a 0.5% decline in the U.S. Producer Price Index in July, reinforcing the notion that inflation is receding from four-decade highs.


The so-called PPI numbers for July followed the more significant Consumer Price Index or CPI for the month of July. The CPI figures indicated a zero increase for July and an annual gain of 8.5%, despite predictions of 0.2% and 8.7%, respectively.


According to Ed Moya, an analyst at the online trading platform OANDA, investors may have overestimated the likelihood of a Fed policy change. Within the next several months, further data will be necessary for gold to demonstrate that inflationary pressures are diminishing.


In recent days, at least three Fed officials have suggested that the central bank is not yet ready to decrease interest rates.


Neel Kashkari, president of the Minneapolis Federal Reserve Bank, stated at the Aspen Ideas Conference that despite "good" CPI figures, the Fed is "far, far from declaring victory" on inflation.


Kashkari claimed that he has not "seen anything that changes" the need to increase the Fed's policy rate to 3.9% by the end of the year and 4.4% by the end of 2023.


The current rate is between 2.25 and 2.5%.


Mary Daly, head of the Federal Reserve Bank of San Francisco, emphasized in an interview with the Financial Times that it is much too early for the U.S. central bank to "declare victory" in its fight against inflation.


According to the story, Daly noted that a half-percentage-point rate rise was her "baseline," but she did not rule out a third consecutive 0.75-percentage-point rate hike at the September meeting of the central bank's policy committee.


Charles Evans, president of the Chicago Fed, stated that he anticipates the Fed will likely need to raise its policy rate to 3.25 percent to 3.5 percent this year and to 3.75 percent to four percent by the end of next year, as Fed Chair Jerome Powell indicated following the Fed's most recent meeting in July.


He observed, however, that the CPI data represented the first "positive" inflation statistic since the Fed began gradually increasing interest rates in March — a quarter-point at first, then half a point, and ultimately three-quarters of a point in both June and July.