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On September 5th, a mudslide and landslide occurred in Shixia Group, Mingkeng Village, Gaoping Town, Suichuan County, Jiangxi Province. The Ministry of Emergency Management immediately dispatched and deployed rescue and relief efforts, demanding all-out efforts to search for trapped personnel, verify the number of casualties and missing persons, and deploy nearby communication support and engineering rescue teams and equipment. Rescue personnel were to be organized to advance into the disaster area as soon as possible, and hydrological and geological disaster monitoring and early warning were to be strengthened. Scientific rescue measures were to be implemented, and secondary disasters to be prevented. The National Disaster Reduction and Relief Commission and the Ministry of Emergency Management activated a Level IV emergency response for natural disaster relief and a Level IV emergency response for geological disasters, dispatching working groups to the scene to guide rescue and disposal efforts. The National Emergency Survey Team for Production Safety Rescue, equipped with slope radar and other equipment, was also dispatched to the scene. Local fire departments have dispatched 41 vehicles and 224 personnel to the scene, and communication and reconnaissance drones from surrounding areas have been deployed.September 5th - The Asia-Pacific Media High-Level Forum was held in Shenzhen on September 5th. At the forum, Zhu Min, former Vice Governor of the Peoples Bank of China, emphasized promoting the digital and intelligent transformation and connectivity of the Asia-Pacific region. He called for deepening cooperation in cutting-edge technologies and strengthening collaboration in the field of artificial intelligence (AI). He also stressed the need to promote the development of the digital economy, expand digital public services, and facilitate standards interoperability.On September 5th, Russian Deputy Foreign Minister Sergei Ryabkov, commenting on the potential visit to Russia by US Presidential Envoy Joshua Witkov and Trumps son-in-law Jared Kushner, stated that the US government should consider the actual situation on the battlefield in its mediation efforts in Ukraine, and that the situation is developing unfavorably for Kyiv. Ryabkov pointed out that the key issue is whether the US government is prepared to invest the effort to find a genuine solution to the current crisis, including considering the realities of the battlefield, not only the root causes of the conflict frequently cited by Russia, but also the constantly evolving situation that is developing against Ukraine. Ryabkov said the question is whether the Anchorage meeting between the Russian and US leaders in August 2025 and subsequent events demonstrate that the US position on resolving a range of issues can remain within a rational framework, without succumbing to pressure from the situation and opposing mediators. These issues remain unresolved.September 5th - According to reports, after Zhipus first store on Tmall was launched, several major model manufacturers, including Kimi, MiniMax, and Jieyue Xingchen, are also in talks with Tmall to open official flagship stores and sell Token subscription packages.September 5th - In accordance with the "National Natural Disaster Relief Emergency Plan," and in response to the severe impact of recent typhoons and extreme heavy rainfall on Putian and Ningde in Fujian Province, the National Disaster Prevention, Reduction and Relief Commission and the Ministry of Emergency Management raised the national natural disaster relief emergency response level for Fujian to Level III on September 5th. An additional disaster relief working group was dispatched to the disaster area to assess the situation and guide and assist local authorities in ensuring the basic living needs of affected people and in post-disaster emergency recovery efforts.

Gold Price Prediction: XAU/USD bears at $1,650 on Fed hawkishness and China news

Daniel Rogers

Sep 19, 2022 14:34

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During early Monday morning in Europe, the gold price (XAU/USD) maintains a position close to the intraday low at $1,670. In doing so, metal prices endure the weight of a stronger U.S. dollar amidst a sluggish session caused by Japanese and British vacations. The cause may be related to the Fed's hawkish bets and China-related news stories.

 

US Dollar Index (DXY) reverses a two-day slump while posting intraday gains of 0.18 percent at 109.85 as of press time. Indicators of the U.S. dollar's value versus the six major currencies have recently been buoyed by the University of Michigan's September consumer sentiment report and the market's positive expectations on the Fed's next move. Consequently, the probability of a 75-basis-point (bps) rate hike by the Federal Reserve increased to 80%, while the market's estimates of a one-percentage-point increase in the Fed rate rose to 20% at the latest.

 

US President Biden stated elsewhere, "I'm more positive than I've been in a long time." The national leader also claimed that inflation will be brought under control. On the same line are the covid updates from China, which have unlocked Dalian and Chengdu while observing zero coronavirus cases in Beijing and one, as opposed to zero the day before, outside of Shanghai's quarantine zone. However, US President Biden's willingness to support Taiwan in the event that China assaults Taiwan and hawkish expectations for the Federal Reserve appear to weigh on the steel price ahead of the major monetary policy pronouncements.

 

In addition, the People's Bank of China (PBOC) reduces the 14-day reverse repo rate by 10 basis points to 2.15 percent. "With no maturing reverse repos on Monday, the Chinese central bank injects 12 billion yuan," reports Reuters. The same might have indicated that the dragon nation is not in recovery mode and requires more rate cuts than rate raises, which could have caused the gold price to plummet. The cause is China's position as one of the world's largest gold consumers.

 

In light of this, the S&P 500 Futures post modest losses while mirroring Wall Street's Friday close. Notably, the selling in Japan curbs bond movements in Asia, but yields are robust near the multi-day high due to fears of a recession and hawkish Fed views.

 

Moving forward, a light economic calendar and important market holidays may limit intraday XAU/USD price fluctuations. However, bears are expected to maintain control because to aggressive Fed expectations, which, if dashed, might defy the bearish chart pattern and spark the long-awaited rally.

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