EUR/USD
1.14580
-0.151%
Gold
4206.19
1.219%
Oil
75.189
-1.617%
USD/JPY
161.709
0.262%
GBP/USD
1.32401
0.055%
GBP/JPY
214.109
0.319%
Real-time News
On June 22nd, Morgan Stanley stated that without a significant rebound in ETF inflows, its bullish target of $5,200 for gold in the second half of the year will become more difficult to achieve. Morgan Stanley analysts stated, "While central bank gold purchases may continue, ETF flows are more sensitive to changes in interest rate expectations. The missing link is ETF demand, which will likely remain sensitive to the Feds policy path, real yields, and the dollar." Morgan Stanley remains bullish on golds long-term prospects, as easing tensions in the Middle East and lower oil prices help alleviate inflation concerns. However, the Feds hawkish rhetoric at its most recent meeting reinforced expectations that interest rates will remain high for a longer period, increasing the opportunity cost of holding non-interest-bearing assets like gold.The Russian government: Rosneft also reported on measures taken to stabilize fuel prices, increase fuel production, and bring new production capacity into operation.The Russian government reported that Rosneft briefed Russian Deputy Prime Minister Novak on measures to supply fuel to the domestic market.On June 22, the 4th China International Supply Chain Promotion Expo opened in Beijing. Ding Xuexiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, attended and delivered a keynote speech. Ding Xuexiang put forward four suggestions: First, strengthen mutual trust, prevent the politicization, weaponization, and over-security of economic and trade issues, focus on eliminating interference from non-economic factors, and jointly safeguard the global public good nature of industrial and supply chains. Second, strengthen trade facilitation, uphold and practice genuine multilateralism, maintain the multilateral trading system with the World Trade Organization at its core, oppose protectionism under the guise of green and low-carbon development, actively create a fair, open, and predictable market environment, and promote trade and investment liberalization and facilitation. Third, strengthen integrated development, work together to promote the deep integration of the innovation chain and the production and supply chain, jointly build a complementary and mutually beneficial industrial ecosystem, and ensure that the fruits of scientific and technological innovation benefit more countries and people. Fourth, strengthen resource sharing, actively maintain the openness, connectivity, and stable operation of the global energy market, promote mutually beneficial cooperation and peaceful use of key minerals, and create favorable conditions for ensuring the stability and smooth operation of global industrial and supply chains.The Kremlin stated that it has contacted Serbia regarding the NIS (National Oil Company) issue, but details will not be released to the public at this time.
