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On August 19th, it was learned from Xiaomi that their upcoming next-generation humanoid robot will be approximately 1.7 meters tall, weigh 66 kilograms, and have 66 degrees of freedom, half of which are concentrated in its hands. Currently, this robot is a prototype and will be exhibited in Europe after its initial domestic debut. In 2022, Xiaomi released its full-size humanoid robot "Tieda," nearly two months earlier than the Tesla Optimus prototype. Tieda was 1.77 meters tall, weighed 52 kilograms, and had 21 degrees of freedom. Since then, Xiaomi has released little information regarding its robotics products.Iranian Parliament Speaker Ghalibaf: Everyone only needs to look at the regional situation to see who is winning.On August 19th, Goldman Sachs issued a report expecting the Hong Kong Stock Exchange (00388.HK) share price to react positively to its second-quarter results. Second-quarter net profit was HK$5.4 billion, up 21% year-on-year and 4% quarter-on-quarter, exceeding the banks and market expectations by 11% and 15% respectively. Revenue (excluding investment income) was 5% higher than the banks forecast, and investment income also exceeded the banks expectations, driven by fair value gains on investments in non-listed companies. The rating is "Buy," with a target price of HK$540.August 19th - According to TrendForces latest memory spot price trend report, the DRAM spot market supply and demand remain weak. Trading volume is expected to remain low in the third quarter of 2026, while prices are expected to continue to rise slightly. The average spot price of mainstream chips (such as DDR4 1Gx8 3200MT/s) has risen from $42.61 last week (August 12th) to $42.90 this week (August 18th), an increase of 0.67%. Regarding NAND flash memory, trading momentum continues to weaken. This week, the spot price of 512Gb TLC wafers rose 0.39% to $21.208 per wafer.On August 19th, UBS released a research report stating that Baidus (09888.HK) second-quarter performance was weak, with AI cloud infrastructure revenue growing by 50% year-on-year, a slowdown from the 79% growth rate in the first quarter. This slowdown is believed to be due to the timing of revenue recognition. The report emphasizes that the computing demand for AI training and inference remains healthy, and predicts that growth will accelerate again to over 60% in the second half of the year, driven by increased spending from existing customers and an expanding customer base. The bank slightly raised its second-half AI cloud infrastructure revenue growth forecast to over 60%, while lowering its second-half core operating profit forecast by 6% to reflect increased R&D spending. The full-year core revenue forecast for Baidu remains largely unchanged, while the full-year non-GAAP net profit forecast is lowered by 27%. The target price is lowered from HK$165 to HK$155, while maintaining a "Buy" rating.

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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