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On May 31, it was confirmed by multiple sources that the "Plan for Further Deepening the Reform of State-owned Assets and Enterprises (2026-2029)" has been issued. Public information shows that since May, Shandong, Henan, and Hubei provinces have held provincial party committee standing committee meetings to study the work of deepening the reform of state-owned assets and enterprises in their respective provinces. Yuxi High-tech Zone in Yunnan Province, Peixian County in Xuzhou City, Jiangsu Province, and Etuoke Banner in Inner Mongolia have successively conveyed and studied the "Plan." At the central enterprise group level, China Electric Equipment Group held a 2026 Deepening Reform and First-Class Construction Work Conference on May 12. The conference required the entire group to thoroughly study and understand the contents of the "Plan" and formulate reform plans and reform ledgers that conform to the actual development of the group. All subsidiaries at all levels should, in accordance with the unified deployment of the group, systematically plan the next round of reform actions and go all out to promote a high-quality and high-standard start to the deepening reform.According to Irans Tasnim News Agency, Iranian Parliament Speaker Qalibaf stated that the task of diplomacy is to translate military victories into political and legal outcomes.On May 31, Iranian Parliament Speaker Mohammad Ghalibaf, in his opening remarks at the first session of the third year of the 12th Parliament, stated that the fighters in the diplomatic arena have absolutely no trust in the words and promises of their enemies. Irans sole criterion is the attainment of tangible, objective results; only on this basis will Iran fulfill its commitments. Iran will never ratify any agreement until the legitimate rights and interests of the Iranian people are fully guaranteed.On May 31, it was reported that a San Francisco-based robotics startup plans to send an upgraded humanoid robot to Ukraine this year for continued military testing, according to a May 30 report from the United States. The company representative stated that the data collected in Ukraine will provide insights for future cooperation with the U.S. military, and the company plans to use the humanoid robot for frontline testing within 18 months. Neither the Ukrainian nor the U.S. Department of Defense has responded to the reports.On May 31, Aerolineas Argentinas announced the cancellation of its special World Cup flights to Miami, USA, due to rising fuel prices. In February, Aerolineas Argentinas announced special World Cup flights from Rosario, Córdoba, and Tucumán to Miami, USA, starting June 8, to facilitate viewing for fans in inland Argentina. Now, because rising fuel costs have impacted the expected profitability of these flights, Aerolineas Argentinas has decided to cancel them. Passengers who have already purchased tickets for these flights will be rebooked on alternative flights departing from Buenos Aires.

Predictions for Gold Prices — Gold prices rose as the dollar weakened

Alina Haynes

May 24, 2022 09:43

Gold prices rise as the dollar weakens to start the week. The currency experienced negative pressure on reduced growth prospects and likely march toward recession. Benchmark rates climbed as shares surged today. Today, the yield on the ten-year Treasury note rose by 3 basis points.

 

On Monday, there was little going on in the world of business. Focus continues on Fed Chair Powell’s speech tomorrow and major economic statistics including PCI and first-quarter GDP published this week. Investors are anxious about impending recession and sluggish economic growth.

Analytical Methods

Gold prices came back from session highs but are still higher and possibly be headed to the 1860s. This week's economic statistics might point to a slowdown in economic growth, which would benefit gold.

 

To begin the week, gold prices held above the 200-day moving average of $1839. Support is indicated near the 200-day moving average near 1839. Resistance is apparent at the May 12th peak of 1858.

 

The Fast Stochastic has formed a crossover buy signal, indicating that the short-term momentum is bullish. Prices are no longer oversold as the fast stochastic prints a value of 54.58, considerably above the oversold trigger level of 20.

 

Medium-term momentum turns bullish as the MACD can provide a crossover buy signal. This occurs as the 12-day moving average minus the 26-day moving average passes below the 9-day moving average of the MACD line.

 

Price declines are predicted by the MACD (moving average convergence divergence) histogram, which shows a downward trend in price.

 

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