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On August 19th, at 7:35 AM, the Zhuque-3 rocket, standing 25 stories tall and weighing over 600 tons, once again defied Earths gravity and entered low Earth orbit. Just over two minutes later, the booster and the second stage carrying a satellite successfully separated. Less than ten minutes after launch, the booster, after two retro-rockets to slow its descent, slowly landed at a recovery site in Minqin County, Gansu Province, 390 kilometers from the launch site. When asked by the media: "Now that the recovery is successful, what will you (the Zhuque-3 team) do next?" Dong Kai, deputy chief designer of the Zhuque-3 rocket, stated that they will strive to reuse the recovered rocket as soon as possible. "After this rocket returns, we will disassemble it very carefully to see where it was damaged after such a flight. If each part has health bars, the subsequent work will be to make each health bar inspectable, measurable, and repairable, and then put it back on the launch pad after repair." The main improvement directions for Zhuque-3 are to enhance its carrying capacity, reliability, and shorten the reuse cycle. My inner hope is that Suzaku III will first cross the threshold of playing 10 times a year.Tokyo Electrons stock price fell 4%.The Nikkei 225 index fell by 2.00% during the day.August 19th - Southeast Asian economies diverged in the second quarter, influenced by the technology and energy sectors. Vietnam remained the fastest-growing major economy in Southeast Asia, while Thailand underperformed. Malaysia and Singapore ranked second and third, respectively, driven by strong demand for semiconductors and other components in the global technology supply chain. Like Thailand, the Philippines was also affected by soaring energy costs due to the Middle East conflict. Furthermore, a sharp decline in infrastructure spending further dragged down Philippine growth. Developing economies with key players in the AI-related technology supply chain showed greater resilience, while those more vulnerable to expensive imported energy gradually lost momentum. Policymakers in the region are now facing the challenge of protecting businesses and consumers from volatile oil prices without harming economic growth. DBS economists stated, "The differences in growth across countries depend on their domestic resilience in responding to the Middle East crisis and their reliance on technology exports in their trade structures."The Nikkei 225 index opened down 631.39 points, or 0.94%, at 66,829.34 on Wednesday, August 19.

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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