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On December 21, Russian Presidential Aide Ushakov told the media that the proposal to hold trilateral talks between Russia, the United States, and Ukraine has not yet been put on the agenda or discussed. He also pointed out that the modifications proposed by Ukraine and Europe to the Russia-Ukraine "peace plan" are not conducive to advancing the agreement. Ushakov confirmed that Russias Special Representative for Foreign Investment and Economic Cooperation, Dmitriev, is currently in Miami holding talks with the US. He revealed that Dmitriev will report on the results of the talks with the US after returning to Moscow. On the same day, Russian Presidential Press Secretary Peskov told the media that President Putin has no plans to speak with US President Trump before the end of the year, but arranging a call would be easy.On December 21st, according to Japanese sources, during a debate program, Itsunori Onodera, chairman of the Liberal Democratic Partys (LDP) Security Research Council, proposed that it is necessary to discuss the definition of the "Three Non-Nuclear Principles." He discussed Japans current reliance on the US "nuclear umbrella," stating, "This is one of the issues that should be discussed." Onodera said the LDP plans to submit a related motion to the Cabinet in February next year to promote discussion in the Diet. The "Three Non-Nuclear Principles" refer to not possessing, manufacturing, or introducing nuclear weapons. Recently, several political parties, politicians, and numerous civic organizations in Japan have called for adherence to the "Three Non-Nuclear Principles" to avoid a repeat of the tragedy of war.Kremlin: The idea of a trilateral meeting between Russia, the United States, and Ukraine has not yet been discussed.On December 21, the Communist Party of Cuba issued a statement on its official website on the 20th, condemning the US governments escalation of aggression against Venezuela in the strongest terms and accusing the US of its recent actions in Venezuela of being a deliberately planned and dangerous act.SpaceX: Public safety is always our top priority during flight tests. We will continue to ensure that public safety is maximized.

Gold is Close to Falling Below $1,700 as Expectations of a Fed Rate Hike Soar

Charlie Brooks

Sep 07, 2022 11:05

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On Wednesday, spot gold prices temporarily fell below $1,700 as indicators of strength in the U.S. economy fuelled hopes that the Federal Reserve will continue hiking interest rates rapidly.


Spot gold dropped as much as 0.5% to $1,699.97, while gold futures declined 0.1% to $1,711.0 as of 19:18 ET (11:29 GMT). Tuesday saw declines of 0.5% and 0.7%, respectively, for both assets, which were hovering at late-July lows.


Gold saw fresh pressure from the strength of the U.S. dollar, which soared on Tuesday following the release of data showing that the U.S. service sector continued to expand in August. August's ISM non-manufacturing purchasing managers index was 56.9, exceeding estimates of 55.1 and the previous month's reading of 56.7.


The result, combined with strong signals from the labor market last week, implies that the U.S. economy is regaining some vigor, giving the Federal Reserve greater room to sharply hike interest rates.


The dollar index rose 0.4% to 110.25, a level not seen in over two decades, while dollar index futures also rose. Yields on 10-year U.S. Treasuries reached their highest level in two months, while yields on shorter-term Treasuries rose.


In September, investors anticipate a 72% chance that the Fed will raise interest rates by 75 basis points.


As the Fed began to raise interest rates this year, the price of gold has declined substantially from its peaks in 2022. In the face of a likely global economic slowdown, rising demand for safe-haven assets has had minimal impact on gold prices. Other precious metals have experienced comparable declines this year.


Among industrial metals, copper prices remained unchanged following significant advances earlier in the week.


Copper futures climbed about 2% earlier as China, the world's top importer of the red metal, unveiled additional economic development boosting measures. However, the forecast for copper remains restricted by slow global economic activity.


China's industrial sector has contracted for two consecutive months, and Beijing's zero-COVID policy will continue to create headwinds.

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