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On September 4th, the Qijing GX7 officially opened for pre-sale.On September 4th, the launching ceremony of the 2026 Zhejiang Province "Quality Month" activities and the 9th Yangtze River Delta G60 Science and Technology Innovation Corridor Quality Standards Conference were held in Hangzhou, Zhejiang. To build consensus across the upstream and downstream of the industrial chain, construct a collaborative governance framework for quality standards involving industry, academia, research, and application, and promote the high-quality development of the embodied intelligent industry, the conference released the "Initiative for Collaborative Construction of Quality Standards for the Embodied Intelligent Industry in the Yangtze River Delta G60 Cities" and the "Research Report on the Evaluation Index System of Quality Standards for the Yangtze River Delta G60 Science and Technology Innovation Corridor in 2025," among other achievements. The "Initiative for Collaborative Construction of Quality Standards for the Embodied Intelligent Industry in the Yangtze River Delta G60 Cities" proposes: prioritizing quality to solidify the foundation for industrial development; jointly building a standards system to connect industrial collaboration interfaces; and collaborative data governance to strengthen the foundation for intelligent training. Specifically, regarding prioritizing quality, the initiative focuses on the joint construction of a standards system, encouraging enterprises to actively participate in the formulation of national and industry standards, and further promoting the collaborative implementation of standards in areas such as basic general applications, core technologies, components, complete systems, and industry applications.On September 4th, according to the official WeChat account of "Beijing Shunyi," the "Development and Construction Plan for the Capital Airport Economic Zone during the 15th Five-Year Plan Period" has been officially issued. According to the plan, the Capital Airport Economic Zone will promote the high-quality development of a "1+4" industrial system over the next five years, with aviation services as the core and supported by pharmaceuticals and healthcare, intelligent manufacturing, logistics and trade, and business consumption. It aims to become a pioneering zone for the airport economy and build a first-class international airport city port. The plan sets 21 core indicators across five dimensions: hub, scale, industry, innovation, and quality. It specifies that by 2030, the parks revenue will reach 620 billion yuan, the district-level general public budget revenue will reach 4 billion yuan, and the annual import and export volume of the Tianzhu Comprehensive Bonded Zone will reach 200 billion yuan. The "1+4" industrial system will achieve an average annual growth rate of around 10%, the Tianzhu Comprehensive Bonded Zone will maintain a top-tier (A-level) performance evaluation, and the high-tech industrys revenue will grow at an average annual rate exceeding 10%, further highlighting its leading and driving role in the high-quality development of Shunyi Plain New City.September 4th - According to real-time data from Lighthouse Pro, as of 12:50 PM on September 4th, the film "Welcome to Dragon Restaurant" has surpassed 2 billion yuan in box office revenue.Documents show that Iraqs State Oil Marketing Organization (SOMO) is seeking diesel deliveries between September and December, marking its second such procurement tender this year.

June Gold Buyers May Face Difficulties at $1987.60

Larissa Barlow

Apr 14, 2022 10:14

The market's strength is being fueled by demand for a hedge against rising inflation during the Russia-Ukraine conflict, lessening pressure from expectations of an aggressive US interest rate hike, and the US Dollar's intraday reversal top.

 

June Comex gold futures are currently trading at $1982.70, up $6.60 or 0.33 percent from their previous close. The SPDR Gold Shares ETF (GLD) is currently trading at $184.66, up $0.89 or 0.48 percent from its previous close.

 

Gold is regarded as an inflation hedge and a hedge against geopolitical concerns. However, higher interest rates in the United States would increase the opportunity cost of storing non-yielding bullion and strengthen the dollar against which it is valued.

 

However, the price action shows that gold buyers are seeking insurance against inflation and are not very concerned about opportunity costs at the moment. Despite all of the Fed's hawkish rhetoric and anticipation for aggressive rate hikes, we have yet to witness a shift in the direction of inflation.

 

Gold is likely to remain underpinned for the foreseeable future as long as the inflation arrow continues to point upward and the Ukraine war continues.

 

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Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the primary trend is upward. A move over the intraday high of $1985.50 reaffirms the uptrend. A break of $1916.20 will revert the major trend to the downside.

 

On the upside, the retracement zone between $1987.60 and $2009.90 is the nearest objective.

 

On the downside, the long-term Fibonacci level at $1958.70 serves as the initial support, followed by the short-term 50% level at $1932.90.

Technical Forecast for the Daily Swing Chart

The June Comex gold futures market's path through Wednesday's close is likely to be dictated by trader reaction to the 50% level at $1987.60.

Scenario of Bullishness

A sustained move above $1987.60 will signal that buyers are present. This could provide the necessary momentum for a test of the Fibonacci level at $2009.90. This is a trigger point for an upside acceleration.

Scenario of the Bear

A persistent decline below $1987.60 indicates the existence of sellers. They intend to attempt the formation of a secondary lower top. This, if successful, might result in a break into $1958.70.

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