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On September 15th, Eric Lefkofsky, CEO of the US medical technology company Tempus AI, stated in a media interview on Monday, "Given the current models ability to self-train and self-improve, its not hard to imagine a moment when one cant help but ask, Wont this get out of control, beyond our grasp?" He expressed agreement with slowing down the pace of AI development, citing both safety considerations and capital efficiency. He praised the efforts of Anthropic, OpenAI, and SpaceX in the healthcare field and downplayed concerns that "if the largest US companies slow down their investment, the US might fall behind." "I dont think theres any real risk in reducing the speed of a car from 100 miles per hour to 70 miles per hour," he said, "and I dont think the rest of the world will overtake us because of this."US President Trump: Now Im going to debunk another hoax, the claim that artificial intelligence will take over, devour, and destroy the world, and that robots will walk into our cities and wipe us all out! This is even more absurd than the Russia collusion investigation or the global warming hoax.According to a Reuters/Ipsos poll, 63% of Americans oppose Trumps proposal to give a $5,000 bonus if Republicans retain control of Congress.On September 15th, local time, Houthi spokesman Yahya Sarreya stated that Houthi air defense forces intercepted two formations of Saudi warplanes over Saada province, Yemen, on the 14th. Yahya stated that the two formations consisted of Typhoon fighter jets and F-15 fighter jets, taking off from Saudi air bases in Khamis Mushait and Taif. Yahya claimed that the Houthis used several homemade anti-aircraft missiles to intercept the aircraft and "forced them to retreat and return to base." Saudi Arabia has not yet responded to this.According to a Reuters/Ipsos poll, Democrats lead Republicans 44% to 37% in the independent congressional vote.

Silver Price Analysis: The XAG/USD pair appears susceptible as it consolidates in a range below $22.00

Alina Haynes

Feb 22, 2023 15:11

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Silver struggles to get traction on Wednesday and trades in a limited range during the early European session. The precious metal stays below the $22.00 round-number level, and the technical setup continues to favor bearish traders.

 

The aforementioned handle corresponds with the 100-day Simple Moving Average (SMA) and limits the recovery from the YTD low, which was reached last Friday in the $21.20-$21.15 range. In addition, oscillators on the daily chart are firmly entrenched in bearish area, lending credence to the dismal forecast for the immediate future. This shows that the path of least resistance for the XAG/USD pair is down.

 

However, sustained purchasing above the 38.2% Fibonacci retracement level of the recent rise from October 2022, around the $22.15 area, could negate the negative bias and spark a short-covering rally. The XAG/USD could then accelerate into the $22.55-$22.60 supply zone en way to the $23.00 mark or the 61.8% Fibo. level, which could cap any further bullish advance.

 

In contrast, the 50% Fibo. level, located in the vicinity of $21.35, appears to operate as immediate support ahead of Friday's swing low, which is around the $21.20-$21.15 range. A decisive breach below $21.00 might send the XAG/USD to the $20.60 area. The downward trend might extend toward the $20.00 psychological level and the next significant support near the $19.75-$19.70 zone.



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