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On September 15th, data from the National Bureau of Statistics showed that in August, the year-on-year decline in new residential property prices in first-tier cities was 0.9%, a decrease of 0.2 percentage points compared to the previous month. Specifically, prices in Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai saw an increase of 3.0%. In second- and third-tier cities, the year-on-year declines in new residential property prices were 2.7% and 4.1% respectively, both narrowing by 0.1 percentage points. In August, the year-on-year decline in existing residential property prices in first-tier cities was 2.7%, a decrease of 1.0 percentage point compared to the previous month. Specifically, prices in Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. In second- and third-tier cities, the year-on-year declines in existing residential property prices were 4.9% and 5.6% respectively, both narrowing by 0.2 percentage points.New Residential Housing Prices: 1. Beijing: August new residential housing prices -0.2% month-on-month (previous value -0.3%), -2.3% year-on-year (previous value -2.3%). 2. Shanghai: August new residential housing prices +0.4% month-on-month (previous value +0.2%), +3.0% year-on-year (previous value +3.0%). 3. Guangzhou: August new residential housing prices +0.1% month-on-month (previous value +0.1%), -1.9% year-on-year (previous value -2.2%). 4. Shenzhen: August new residential housing prices +0.2% month-on-month (previous value +0.2%), -2.3% year-on-year (previous value -2.9%). Second-hand Residential Housing Prices: 1. Beijing: August second-hand residential housing prices -0.1% month-on-month (previous value 0.0%), -3.5% year-on-year (previous value -4.5%). 2. Shanghais existing home prices in August increased by 0.3% month-on-month (previous value +0.3%) and decreased by 0.8% year-on-year (previous value -2.0%). 3. Guangzhous existing home prices in August remained unchanged month-on-month (previous value +0.4%) and decreased by 3.8% year-on-year (previous value -4.7%). 4. Shenzhens existing home prices in August increased by 0.1% month-on-month (previous value +0.2%) and decreased by 2.7% year-on-year (previous value -3.6%).National Bureau of Statistics: Beijings second-hand housing prices in August decreased by 0.1% month-on-month (previous value +0%) and decreased by 3.5% year-on-year (previous value -4.5%).According to the National Bureau of Statistics, the price of second-hand residential properties in Shenzhen rose 0.1% month-on-month in August (up 0.2% in the previous month) and fell 2.7% year-on-year (down 3.6% in the previous month).September 15th - The 2026 China Carbon Market Conference was held in Wuhan, Hubei Province this morning, and the "National Carbon Market Development Report (2026)" was released at the conference. Reporters learned that as of the end of August, the national carbon emission trading market had accumulated transactions exceeding 900 million tons, with a transaction value exceeding 60 billion yuan. The national carbon market has grown from nothing to a significant stage, playing a crucial role in promoting the achievement of carbon peaking and carbon neutrality goals.

Gold Range Holds Tight Ahead of Fed Meeting

Charlie Brooks

Sep 20, 2022 10:53

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Tuesday, in anticipation of a U.S. Federal Reserve meeting that is expected to result in an interest rate hike, investors refrained from placing major bets on gold prices, holding the price of the precious metal within a limited range.


Spot gold jumped 0.2% to $1,679.14 per ounce around 20:11 EST, while gold futures climbed 0.6% to $1,687.85 per ounce (00:11 GMT). Following a week of dramatic drops, neither instrument has seen notable movement since Monday.


As the U.S. dollar fell on Tuesday, there was a slight lessening of pressure on gold. The dollar stayed at 20-year highs, whilst U.S. Treasury rates soared before the Fed's announcement of interest rate changes.


On Wednesday, it is widely expected that the central bank would increase interest rates by 75 basis points bps, while traders are also considering the possibility of a 100 basis point increase. In August, U.S. inflation remained at 40-year highs, bolstering expectations for a hefty Fed rate hike. The data led to a strengthening of the dollar and a continuation of losses on the metal markets.


The yellow metal is now trading lower for the year as a result of the Federal Reserve's rate rises. Beginning of the Russia-Ukraine conflict coincided with gold's price peak. Recently, gold prices fell below $1,700, which was seen as one of the last remaining points of support before a steeper decline.


Tuesday saw both platinum and silver futures recover from recent losses and advance.


Copper prices for industrial metals climbed by 0.2% to $3.5323 per pound. Recently, though, the dollar has pushed pressure on red metal.


In spite of expected supply shortages due to a strike at the Escondida copper mine in Chile, the outlook for copper prices this year is clouded by signs of a global slowdown in economic growth.

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