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Mitsubishi Electric and Sony Semiconductor Solutions have formed a joint venture to focus on artificial intelligence vision sensors for industrial manufacturing.JPMorgan Chase raised its price target for General Motors (GM.N) from $110 to $120.On July 22, the General Office of the Hainan Provincial Peoples Government recently issued the "Hainan Provinces 15th Five-Year Plan for Service Industry Development," which proposes to solidly advance the comprehensive pilot program for expanding the opening-up of the service industry. The plan includes: improving the data transaction and security system in the telecommunications service sector; relaxing restrictions on institutional cooperation and import restrictions on rare disease drugs in the medical and health care sector; deepening the Qualified Foreign Limited Partner (QFLP) pilot program in the financial sector and developing green finance and offshore trade; optimizing cross-border e-commerce and international consumption facilities in the commerce, trade, culture, and tourism sector; opening up green channels for cross-border freight and exploring new multimodal transport models in the transportation sector; promoting the deep integration of manufacturing and service industries and cultivating emerging industrial chains such as commercial aerospace and intelligent connected vehicles; optimizing foreign exchange management for foreign investment, simplifying port procedures, and relaxing restrictions on the practice and residence of foreign talent; improving industry standards in key areas such as data and transportation, and promoting mutual recognition and alignment of international standards.July 22 - According to the Zhejiang Provincial Bureau of Statistics, based on the unified accounting results for regional GDP, the provinces GDP in the first half of the year reached 4,793.7 billion yuan, a year-on-year increase of 5.7% at constant prices. By industry, the added value of the primary industry was 112.9 billion yuan, an increase of 4.4%; the added value of the secondary industry was 1,813 billion yuan, an increase of 6.2%; and the added value of the tertiary industry was 2,867.8 billion yuan, an increase of 5.5%.On July 22, the General Office of the Hainan Provincial Peoples Government recently issued the "Hainan Provinces 15th Five-Year Plan for Service Industry Development," which proposes to develop commercial aerospace technology services. Relying on the international satellite data trading service platform, the second phase of the intelligent launch service system for commercial aerospace launch sites, the third-party intelligent testing service center for low-orbit satellites, and the remote sensing and mapping application service capability enhancement project, the plan aims to promote the extension of commercial aerospace from hardware manufacturing to high-value-added operational services, thereby enhancing Hainans service capabilities in the international aerospace and telemetry support fields.

Once Again, Gold Plunges While the Dollar Soars; 'Hot Inflation' Data Awaited

Haiden Holmes

Jul 13, 2022 11:01

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Gold has retreated to the mid-$1,700 level as a result of another day and another twenty-year high for the dollar.


Gold futures for August delivery settled at $1,724.80 per ounce on the New York Comex, down $6.90, or 0.4%.


Even though the week has just begun, the gold benchmark contract on the Comex is already down 1%. This extends gold's four-week decline, which has resulted in a cumulative loss of $150, or 8%, since the week ending June 3. Gold has declined by 6 percent year-to-date.


The Dollar Index, which measures the U.S. dollar to six other major currencies, has surpassed 108 since October 2002.


"Gold prices are clinging to life as the dollar's surge hits a key milestone," said OANDA analyst Ed Moya.


"Gold will eventually see safe-haven flows, but only after a firm dollar peak has been established. The very volatile inflation figures scheduled to be released tomorrow will likely challenge gold's capacity to sustain its position above $1700.


Inflation in the United States has been at four-decade highs since late last year, with the widely followed Consumer Price Index climbing at an annualized rate of 8.6 percent as of May. The report for June is expected to show an 8.8 percent increase on Wednesday.


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