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August 23 - According to foreign media reports, the US Navy is testing a new air-to-air missile capable of striking targets more than 290 miles (465 kilometers) away, significantly exceeding the range of other known similar weapons. The US Navy states that the AIM-424 "Malice" missile, developed by Raytheon, a subsidiary of RTX Corporation, is roughly the same size as the currently deployed AIM-120 "Advanced Medium-Range Air-to-Air Missile" (AMRAAM). This means the missile can be fitted into the internal weapons bays of F-35 and F-22 stealth fighters. Peter Layton, a former Royal Australian Air Force officer and visiting scholar at the Griffith Asia Institute, stated that while missiles with this range could be used to strike high-value aerial targets such as command aircraft or refueling aircraft, they may be even more valuable for defending ships.On August 23, Iranian Oil Minister Mahmoud Ahmadinejad announced the discovery of a large natural gas field in southern Fars province. The field has proven reserves of over 7.5 trillion cubic feet (TCF), and with an estimated recovery rate of over 72%, approximately 5.7 trillion cubic feet are recoverable. He stated that this natural gas possesses a unique characteristic known as "sweet gas," which reduces development and extraction costs. He also revealed that in addition to this natural gas, Iran has discovered substantial condensate oil reserves, which will bring the country billions of dollars in new wealth.On August 23, it was reported that Nagoya University and Fujifilm have collaborated to develop a novel lipid nanoparticle (LNP) that, for the first time, efficiently delivers capped circular RNA (Cap-cirRNA) into animals, exhibiting a 10-fold increase in activity and extremely low inflammation, opening a new door for next-generation long-acting mRNA therapies. The related paper was published in the latest issue of the journal *Cell Biomaterials*.On August 23, Iranian Foreign Minister Araqchi stated that Iran has never been afraid of US sanctions, and all its actions, whether blockades or military operations, have failed. This new tactic is also destined to fail. Trumps so-called "economic actions" are nothing more than a consistent bullying tactic of US policy. "In a sense, its like a movie weve seen countless times; we know how to deal with it," Araqchi said. He added that whether the US resorts to military action or reverts to its old tricks, it shows they have no other options. Faced with the Iranian people, the US has no choice but to keep repeating the same plans. They should understand that there is no other way but to engage in respectful dialogue with the Iranian people and seek a solution based on justice and honor.August 23 - According to data from online platforms, as of now, the box office revenue (including pre-sales) for the 2026 summer movie season has exceeded 11.5 billion yuan.

Gold Price Forecast: The XAU/USD pair's decline is moderating as the price recovers from recent lows

Daniel Rogers

Aug 22, 2022 14:41

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As analysts at TD Securities explained, Chair Powell's remarks will likely be "a key avenue for the Fed to push back against the notable easing in financial conditions sparked by his last remarks, which has seen markets price in rate cuts immediately following the rate hiking cycle and is likely inconsistent with the Fed's inflation mandate." As market expectations for rate reduction diminish, speculative demand for precious metals should diminish more.

 

A chorus of Fed speakers has addressed us in the lead-up to the event. In an interview with CNN, Mary Daly, president of the Federal Reserve Bank of San Francisco, stated that it was far too early to declare victory on inflation and that a 50 basis point or 75 basis point increase would be reasonable.

 

Daly's bluster stirred up the dust and pushed the US dollar up 0.12% on the day to 106.78; since then, it has skyrocketed to 108.285 in Tokyo's opening hour. US bond yields continue to rise, following Europe's selloff, and the yield curve steepened. Yields on 2-year government bonds increased from 3.23% to 3.24% thru 3.29%, while yields on 10-year government bonds increased from 2.90% to 2.97%. The rising interest rates are particularly bad news for gold investors, as the yellow metal is extremely sensitive to rising US interest rates, which increase the opportunity cost of holding non-yielding bullion.

 

Fed funds futures traders assign a likelihood of 55% that the Fed will raise rates by 50 basis points in September and a probability of 45% that rates will be raised by 75 basis points. According to calculations by Reuters and data from the US Commodity Futures Trading Commission published on Friday, speculators' net long positioning on the US dollar continues to expand, while net short positions on the euro increase. The value of the net long dollar position increased to $13.37 billion during the week ending August 16, according to statistics from the CFTC. Since four weeks ago, net long dollar positions have climbed for the first time.

 

Core PCE will be significant in data preceding the Jackson Hole Symposium. According to analysts at TD Securities, prices likely slowed significantly in July and at an even slower rate than the core CPI (0.1% vs. 0.3%).

 

"Shelter weights continue to be a major contributor to this disparity. The YoY rate likely decreased to 4.6% from 4.8% in June, indicating that the series has reached its apex. Separately, personal expenditure likely fell to a still robust 0.6% MoM pace after seeing an even greater 1.0% MoM increase in June.


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