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Chart: Precious metals market data for Industrial and Commercial Bank of China accounts on Monday, August 24, 2026.Gold prices rose during Asian trading hours on August 24th. ING strategists stated in a report that gold prices have rebounded sharply from July lows, rising from around $4,000 per troy ounce in mid-July to approximately $4,600, returning to levels seen since May, supported by recovering investment demand and growing market anxiety about the US fiscal outlook. The strategists noted that the prospect of the US Treasury potentially expanding its bond-buying program has refocused market attention on US government borrowing and fiscal credibility. They added, "This has also reignited concerns about currency devaluation, further enhancing golds appeal as a store of value."On Monday, August 24, the Hang Seng Index opened down 229.34 points, or 0.88%, at 25,780.12; the Hang Seng Tech Index opened down 53.0 points, or 1.11%, at 4,713.16; the H-share Index opened down 84.99 points, or 0.98%, at 8,549.35; and the Red Chip Index opened down 4.37 points, or 0.1%, at 4,287.98.Hong Kong stocks opened lower, with the Hang Seng Index down 0.88% and the Hang Seng Tech Index down 1.11%; Alibaba (09988.HK) opened down 8.05% after announcing a proposed placement of HK$80 billion in new shares.On August 24th, it was learned from the Cold Chain Professional Committee of the China Federation of Logistics and Purchasing that the total demand for food cold chain logistics in the first half of the year reached 200 million tons, a year-on-year increase of 4.7%, with the growth rate accelerating by 0.3 percentage points compared to the same period last year; the total revenue of food cold chain logistics service companies was 290.18 billion yuan, a year-on-year increase of 3.7%. The penetration of new energy refrigerated trucks accelerated, and the proportion of green transportation capacity reached a new high. It is estimated that refrigerated truck sales in the first half of the year reached 42,111 units, a year-on-year increase of 42.9%; among them, sales of new energy refrigerated trucks reached 20,285 units, a year-on-year increase of 92.3%, maintaining a high-speed growth trend. The penetration rate of new energy refrigerated trucks reached 48.2%, an increase of 12.4 percentage points compared to the same period last year. The penetration rate in the second quarter rose to 54.7%, showing an accelerating penetration trend. For the first time in a quarterly dimension, the penetration rate of new energy refrigerated trucks surpassed that of traditional fuel vehicles, indicating that the greening process of cold chain transportation has entered an accelerated development stage.

Stock Markets Continue to Threaten a Breakout

Cory Russell

Aug 09, 2022 14:49

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During the Monday trading session, the S&P 500 surpassed the 200 Day EMA, where it is now meeting with a lot of resistance. As a result, things can get intriguing.

Technical Analysis of the S&P 500

On Monday during trade, the S&P 500 first declined before turning around and resuming its surge. The market had reached the 200 Day EMA at midday and was barely below the critical 4200 level. A rise to the 4300 level is conceivable if the market were to break through the 4200 level. However, bear in mind that the CPI statistic from the United States will be released on Wednesday and will offer traders more to consider on the inflationary outlook.


People tend to place a lot of faith in the Core CPI number since the Federal Reserve does like to pay careful attention to it, particularly if it comes out hotter than expected. Given that, I believe we will be treading a fine line over the next several days. However, if we were to break below the hammer that formed on Friday, it may indicate that the market is eager to sell equities ahead of the number, which I believe to be far more probable than most people know.


After all, there are many worries about future inflation and we are in a recession right now. Given that Wall Street has, very bluntly, made a career not pricing the market in accordance with reality, this does not necessarily imply that it must do so. However, it's clear that there is a lot of technological resistance here, so everything fits together rather well.