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July 26 – According to a report by The New York Times, US President Trump has shelved plans for a significant escalation of military action against Iran. Trump is concerned that an escalation could dangerously deplete the Pentagons already dwindling stockpile of Patriot missile interceptors and other air defense munitions in the Middle East. The report states that government officials indicated that the strain on interceptor stockpiles is one of many factors making a resumption of large-scale military action extremely risky. Furthermore, Trump and his senior advisors are also uneasy about the potential for a escalation of the Middle East conflict, the possible alienation of key Gulf allies vulnerable to Iranian attacks, a global economic shock, and a worsening energy and refugee crisis.On July 26th, Huang Renxun discussed the US-China AI competition in an interview with foreign media on July 25th. He stated that outstanding talent will always find excellent solutions, and China is destined to produce excellent AI technology; therefore, China should continue to learn from and cooperate with them.July 26 – The latest epidemic report released by the Ministry of Health of the Democratic Republic of Congo on July 25 shows that the cumulative number of confirmed cases of Ebola in the country has risen to 3,075, with 1,354 deaths. Data shows that as of July 24, a total of 755 patients were receiving isolation or hospitalization treatment, and the cumulative number of recovered cases was 556. The outbreak has spread to five provinces: Ituri, North Kivu, South Kivu, Haut-Uele, and Chowpo.On July 26, Australian Prime Minister Barnes stated that he would raise the issue of tariffs with US President Trump. This comes after Washington imposed new tariffs on trading partners, including Australia. The Labor government, led by Barnes, has called the tariffs unreasonable and expressed its desire for their removal. When asked if he would discuss the issue with Trump, Barnes replied, "Of course." "We will raise this issue at all levels of the Australia-US relationship, and in fact, we have already done so."July 26 – According to Politico, as the US-Iran conflict continues, Arab countries suffering retaliatory attacks from Tehran are attempting to unite and find a path to peace. However, long-standing contradictions are hindering this process. In recent weeks, senior officials from the UAE and Saudi Arabia have publicly posed for photos together, demonstrating a thaw in relations; Jordan and six members of the Gulf Cooperation Council (GCC) have also held talks at the US State Department and Capitol Hill; and the GCC has issued several joint statements condemning Irans attacks. However, several Arab diplomats, current and former US officials, and people familiar with the regional situation say that while these countries all want to ensure the Strait of Hormuz remains open, their differing priorities in how to achieve this goal are hindering substantial progress. These differences include a series of conflicting interests, such as which countries possess alternative shipping lanes, which countries have the deepest infrastructure ties with Iran, and which countrys economy will suffer the greatest losses in the current crisis. An Iraqi official stated, "They are working together to visit the U.S. Congress and the State Department to coordinate their messaging. But they are not on the same page." The Gulf Cooperation Council (GCC), comprised of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE, already had numerous internal divisions before the current conflict, and the war with Iran is further amplifying these contradictions. "They have many issues to resolve, and this war has exacerbated the existing divisions in the Gulf region," said David Schenker, former U.S. State Department director for Middle East affairs.

Silver Price Prediction - Silver Pulls Back Once More

Alina Haynes

Aug 16, 2022 11:29

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Silver markets have retreated somewhat during Monday's trading session as the 50-day exponential moving average (EMA) continues to act as a bit of a price magnet, and of course, we are sitting in a region that has a large amount of market memory. The candlestick is obviously pretty ugly, and a break below the $20 level on a daily close might spark a significant amount of selling. Moreover, if interest rates continue to exhibit signs of growth, this could exert additional downward pressure on silver.

 

China's apparent slowdown and the fact that silver is an industrial metal only serve to exacerbate the situation. In other words, the question will be whether there will be sufficient demand for silver to maintain high prices. Currently, the $21 level appears to be a strong resistance barrier that will be tough to overcome; if we could, the market may reach the $22 level.

 

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As of late, the market has been exceedingly raucous, having soared to the sky. At this time, the concern is whether or not we have the potential to fall hard enough to fill the gap below, which is at the $19.00 mark. In this circumstance, a major decline is just waiting to occur. Pay particular attention to the US dollar, as it will have a significant impact on what occurs next, since a strengthening US currency normally has a negative effect on the silver market.