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The Office of the United States Trade Representative announced that Brazilian aircraft and aircraft parts, rare earth elements, pesticides, pharmaceuticals, and fertilizers will be exempt from punitive tariffs.June 2nd - CNN reported on June 1st, citing a regional source familiar with the US-Iran negotiations, that talks have returned to normal. Iranian media had previously reported that negotiations between Iran and the United States had been suspended due to Israels continued attacks on Lebanon. However, US President Trump subsequently stated that he had spoken with Israel and that negotiations with Iran were "moving rapidly."Citigroup reiterated its expectation that the Reserve Bank of Australia will raise interest rates by 25 basis points at its August meeting.On June 2nd, the Beijing Municipal Tax Service announced the official launch of the nations first online tax refund shop for departing tourists in Beijing, along with the simultaneous opening of the first batch of centralized tax refund points for the hotel industry. Overseas tourists can now directly process tax refunds at their hotels after shopping online, further expanding the scope of tax refund services. Liu Li, Director of the Second Tax Branch of the Beijing Municipal Tax Service, State Taxation Administration, stated that the launch of the nations first online tax refund shop expands the tax refund scenario from offline physical stores to online shopping platforms, transforming policy benefits into tangible and accessible tax refund convenience for overseas travelers. Simultaneously, efforts are being accelerated to promote nationwide mutual recognition of "instant refund upon purchase," enabling overseas travelers to truly achieve "tax refunds nationwide even when departing from a different location."Futures News, June 2nd: As of June 1st, the mainstream closing price of benzene in East China was 7670 yuan/ton, up 30 yuan/ton from the previous trading day. Market news was quiet, and trading activity was moderate. The price fluctuation in the East China benzene market was limited throughout the day. Near-month prices remained relatively firm due to slow inventory reduction at major East China ports, while far-month prices remained weak. Maintenance shutdowns at Zhongjin Petrochemical and Hainan Refining & Chemical in early June, coupled with widespread losses among downstream users, dampened purchasing activity and continued to weigh on the market. However, with benzene valuations hitting new lows, cost support has strengthened somewhat. Expectations for a US-Iran agreement have dashed, leading to another surge in European and American crude oil futures. It is expected that benzene prices may rise slightly in the near term, supported by costs.

Under the international gold price, support is at $1750

Oct 26, 2021 11:02

On Wednesday (October 13), international gold prices strengthened, but the increase was modest. Investors are waiting for US inflation data and the minutes of the Fed’s September policy meeting to find clues as to when the central bank will begin withdrawing its massive stimulus measures. The price of gold remains bearish in the short-term, with support at $1750 below.

At GMT+8 13:39, spot gold rose by 0.12% to US$1762.11 per ounce; the main COMEX gold contract rose by 0.17% to US$1762.3 per ounce; the US dollar index fell by 0.16% to 94.366.


Three Fed policymakers said on Tuesday (October 12) that the economy has recovered enough for the central bank to begin withdrawing support policies during the crisis. This strengthens the Fed’s expectation that the Fed will start reducing monthly bond purchases as soon as next month. Central bank cuts in stimulus measures and interest rate hikes tend to push up government bond yields and increase the opportunity cost of holding gold.

The number of job vacancies in the United States decreased in August, but still exceeded 10 million, which is a very high level. Due to the tight labor supply, the number of voluntary resignations surged to a record high in August, hindering employment growth.

White House officials warned that during this Christmas period, Americans may face rising prices and empty shelves. Officials are currently busy alleviating the global supply bottleneck that has plagued US ports, roads and railroads.

On the daily chart, the price of gold has started a three-wave downward trend from US$1,781, and the support below looks to the 38.2% target of US$1738. Wave 3 is a sub-wave of the downward (3) wave that started at $1834. (3) Lang's 61.8% target is at $1688. (3) Wave is a sub-wave of the downward ((Y)) wave that started from 1917 USD. The ((Y)) wave belongs to the adjusted IV wave that started at $2,075.

On the hourly chart, the price of gold has started a downward wave ((iii)) trend from US$1769. It is expected to fall below the 38.2% target of US$1757, and further drop the 50% target of US$1750. ((iii)) Wave is a sub-wave of Wave 3.

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