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Ukrainian President Zelensky visits the Dnipro region.On April 2, Emma Technology announced that it expects to achieve a net profit of approximately RMB 605 million attributable to shareholders of the listed company in the first quarter of 2025, an increase of RMB 121 million and a year-on-year increase of 25.12%. The performance growth is mainly due to the companys continued focus on the research and development and manufacturing of electric two-wheelers and three-wheelers, promoting the optimization and upgrading of product structure through technological innovation and precise product development, while deepening channel network coverage and supply chain synergy efficiency, and achieving a further increase in the proportion of high value-added models.On April 2, Hengshuai shares announced that its operating income in 2024 will be 962 million yuan, a year-on-year increase of 4.21%. Net profit attributable to shareholders of listed companies will be 214 million yuan, a year-on-year increase of 5.75%. Basic earnings per share will be 2.67 yuan/share, a year-on-year increase of 5.53%. The company plans to pay a cash dividend of 4 yuan (including tax) for every 10 shares to all shareholders, and send 0 bonus shares (including tax), and transfer 4 shares for every 10 shares to all shareholders from the capital reserve fund.On April 2, Qualcomm announced the official fourth-generation Snapdragon 8sGen4 mobile processor. The new processor is mainly used in mid-range mobile phone models. Many mobile phone OEM manufacturers such as REDMI, iQOO, Xiaomi, OPPO and Meizu will release new products equipped with the fourth-generation Snapdragon 8s in the next few months. According to official introduction, the Snapdragon 8sGen4 processor chip mainly uses TSMCs 4nm process technology. The Kryo CPU performance is 31% higher than the previous generation, the Qualcomm Andreno GPU performance is 49% higher, and the GPU energy efficiency is 39% higher.OECD: Recommends that Israel increase taxes to improve its fiscal situation and carry out structural reforms to promote economic growth.

Fundamental Gold Prediction: The US Dollar Weighs on Gold. Will U.S. Retail Sales Change Direction?

Daniel Rogers

May 16, 2022 11:15

Gold prices declined further last week as traders considered the likelihood of an economic recession in light of the Federal Reserve's more hawkish stance. This was supported by a number of inflation reports from the United States. The consumer price index (CPI) for April came in at 8.3 percent year-over-year, exceeding analysts' projections of 8.1 percent year-over-year. The producer price index (PPI) for the same period shows that factory-gate prices have risen by 11.0 percent year-over-year.

 

This batch of inflation data contributed to the dollar's appreciation against the majority of its major rivals. A stronger Dollar often works against the price of bullion. Due mostly to Finland's announcement that it plans to strongly pursue NATO membership, the Euro depreciated. This drew a strong response from Russia, which vowed to respond, so reinforcing the risk-averse sentiment that has been permeating the Eurozone.

 

During the upcoming week, traders will closely monitor numerous high-profile data releases that may affect XAU prices. The US retail sales report for April may have the most impact on market mood. According to a Bloomberg survey, analysts expect April retail sales to increase by 0.7% month-over-month. A stronger-than-expected figure may alleviate some concerns about an impending economic recession. As the US Dollar has been operating as a safe haven for traders, this would likely serve to weaken the currency and may allow gold to climb by reducing risk aversion.

Gold versus US Dollar Chart Weekly

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