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December 21 – According to sources, another oil tanker has been seized by the United States in waters near Venezuela as President Trump intensifies his oil blockade against the government of Venezuelan President Maduro. The seized tanker, the "Bella 1," is a Panamanian-flagged vessel under U.S. sanctions and was en route to Venezuela to load cargo. This interception follows the seizure of the "Century" supertanker early Saturday morning and the seizure of the "Skipper" tanker on December 10. The White House did not immediately respond to a request for comment.On December 21, local time, the Israel Defense Forces (IDF) issued a statement saying that during operations in northern Gaza that day, several suspicious individuals were spotted gathering near the Yellow Line, the ceasefire line. IDF fired warning shots, but three armed men crossed the Yellow Line and approached IDF forces, posing a "direct threat." IDF airstrikes subsequently killed them. The statement also noted that in two other separate incidents in northern Gaza, IDF forces also discovered two armed men crossing the Yellow Line and approaching soldiers. IDF airstrikes subsequently killed them.On December 21, the French presidential palace stated that it would determine the "best way" for French President Macron to hold dialogue with Russian President Putin "in the coming days." The French presidential palace welcomed Russias statement that Putin was willing to engage in dialogue with Macron, and that France believed the aim of such dialogue was to achieve a "stable and lasting peace," and that the content would be "transparent" to Ukraine and Europe.December 21 - According to a report released by the Indonesian Meteorology, Climatology and Geophysics Agency, a 5.6-magnitude earthquake struck off the coast of North Maluku province, Indonesia, at 19:21 local time on December 21. The epicenter was located at 1.47 degrees north latitude and 126.34 degrees east longitude, with a focal depth of 27 kilometers.December 21 - On December 21, MiniMax, a general artificial intelligence company, published its post-hearing information set prospectus for the first time.

In response to China's stimulus, gold recovers sharply from a six-week low, while copper prices rise

Aria Thomas

Sep 06, 2022 11:22

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On Tuesday, gold prices dramatically rallied from a six-week low as a worsening energy crisis in Europe increased demand for safe-haven assets, while copper extended gains in anticipation of fresh Chinese stimulus measures.


Spot gold jumped 0.5% to $1,718.95 per ounce by 21:03 ET, while gold futures rose 0.5% to $1,730.0 per ounce (01:03 GMT). Both instruments rallied from a six-week low early in the month.


After Russia severed a crucial gas pipeline to Europe, putting the area at risk of a severe energy crisis, the demand for conventional safe havens rose. The euro reached new 20-year lows this week, as the crisis is expected to have a substantial impact on economic growth in the eurozone. It is largely anticipated that the European Central Bank will begin to hike interest rates at a meeting later this week.


As traders awaited additional clarity on the future of U.S. monetary policy, Tuesday's dollar index rally appeared to have stopped. However, expectations of future Federal Reserve rate hikes bolstered the dollar's position near 20-year highs.


This year, rising interest rates have had a negative impact on gold prices, as speculators have sought higher yields from the dollar and Treasuries. In addition, it is largely expected that the Federal Reserve will maintain its rate-hiking pace this month.


In addition, other precious metals rose significantly on Tuesday. Platinum jumped by 0.6%, while silver rose by 2%. Both metals rebounded from their 15-month lows.


Copper prices climbed 0.2% among industrial metals, with gains continuing after China hinted at an expansion of economic stimulus measures.


Copper Futures expiring in December rose 0.2% to $3.4665 a pound on Tuesday, following a roughly 2% increase on Monday.


As the economy barely grew in the second quarter, Chinese government authorities announced on Monday that the country would likely enhance its pace of stimulus measures in the third quarter.


This year, the second-largest economy in the world confronts significant headwinds from COVID-19 lockdowns and a probable energy crisis.

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