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On January 27th, the China Securities Regulatory Commission (CSRC) issued its first penalty of the year, directly targeting market manipulation. The penalty, fining Yu Han, an individual, over 1 billion yuan for manipulating the stock price of "Dr. Glasses." Meanwhile, the Zhejiang Securities Regulatory Bureau launched an investigation into Sunflowers restructuring plan for suspected misleading statements; and the Shenzhen Stock Exchange placed *ST Lifang and *ST Changyao under close monitoring due to suspected falsification of financial data. This series of recent regulatory cases demonstrates the regulatory authorities firm stance of "zero tolerance" for market violations and sends a clear signal of strengthening transaction supervision, maintaining market fairness, and preventing drastic fluctuations. From administrative penalties to criminal prosecution, from precise strikes to platform co-governance, the regulatory authorities are building a multi-dimensional and comprehensive regulatory network, striving to create a long-term governance pattern where "violations are not dared, cannot, and do not want to violate," thereby promoting the continuous purification of the market ecosystem through improved regulatory effectiveness.Starbucks (SBUX.O) CEO Brian Niccols total compensation is estimated at $31 million by 2025.U.S. Homeland Security Secretary Noem is expected to testify before a Senate committee in March.US President Trump: I hereby announce that tariffs on South Korean automobiles, timber, pharmaceuticals, and all other reciprocal tariffs will be increased from 15% to 25%.Supermicro Computer (SMCI.O) intends to increase the scale of its facility expansion to $2 billion.

Gold Price Forecast: The XAU/USD pair struggles to continue its climb above $1,870, although the upside remains likely

Alina Haynes

Jan 09, 2023 12:00

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During the Asian session, the gold price (XAU/USD) is hovering in a narrow range around the immediate barrier of $1,870. The precious metal hopes to extend its uptrend in light of market players' increased risk appetite.

 

S&P500 futures have contributed to their gains during Friday's surge, indicating an optimistic market sentiment. The US Dollar Index (DXY) has detected resistance at 103.50 and is likely to find support near 103.00. The yields on 10-year US Treasuries have decreased to approximately 3.56 percent due to a loss in safe-haven attraction.

 

Amidst mounting prospects of a U.S. recession, the gold price is garnering considerable attention. Following a string of declines in the US ISM Manufacturing PMI, the Services PMI has also declined, indicating a decline in overall demand in the United States economy. The Services PMI dropped sharply to 49.6 compared to the predicted 55.0. In addition, the New Orders Index, a measure of future demand, plummeted to 45.2% as opposed to the anticipated 58.5%. The U.S. dollar is affected by a slowdown in economic activity and its expectations for the future.


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