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On the morning of the 9th, General Secretary Xi Jinping visited the National Information Technology Innovation Park in Yizhuang, Beijing, to learn about the application innovation of information technology and Beijings efforts to accelerate the construction of an international science and technology innovation center. He also viewed a display of representative scientific and technological innovation achievements and had a cordial exchange with representatives of researchers and technology companies.February 9th - Following strong performances in all three major US stock indices last Friday, Hong Kong stocks opened higher and continued to rise throughout the day. The Hang Seng Index opened 422 points higher at 26,982, before narrowing its gains to 319 points, reaching a low of 26,879. It then rallied again, rising 514 points to a high of 27,074, once again breaching the 27,000 mark. At the close, the Hang Seng Index was up 1.17% in the morning session, while the Hang Seng Tech Index was up 1.02%. The total turnover of the Hang Seng Index market was HK$136.25 billion. On the sector front, optical communications, photovoltaic equipment, and wind power stocks led the gains, while mainland property stocks saw a surge, and semiconductor stocks continued their strong performance. New consumption concepts, telecommunications, home appliances, and oil stocks were weak. In terms of individual stocks, Innovent Biologics (01801.HK) rose nearly 6%, Pop Mart (09992.HK) rose over 5.7%, China Life (02628.HK), Longfor Group (00960.HK), Zijin Mining (02899.HK), and Hua Hong Semiconductor (01347.HK) rose over 5%, Kuaishou (01024.HK) fell over 4.2%, and China Telecom (00728.HK) and China Mobile (00941.HK) both fell over 1.5%.On February 9th, a new PR (Public Retrieval Request) for Qwen 3.5 to merge into Transformers appeared on the open-source project page of HuggingFace, the worlds largest AI open-source community. Industry insiders speculate that the release of Alibabas next-generation foundational model, Qwen 3.5, is imminent, sparking heated discussions in the global AI open-source community. Some commentators have described a "crazy February" led by large-scale Chinese models as imminent. Related information reveals that Qwen 3.5 adopts a new hybrid attention mechanism and is highly likely to be a natively capable VLM-like model for visual understanding. Developers have further discovered that Qwen 3.5 may open-source at least a 2B dense model and a 35B-A3B MoE model.Japanese Prime Minister Sanae Takaichi: The US-Japan alliance and friendship are built on deep trust and close, solid cooperation.Japanese Prime Minister Sanae Takaichi: The potential of our alliance is limitless.

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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