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Artificial Intelligence: 1. Altman: OpenAI will not go public this year; a lot of security work still needs to be done. 2. OpenAI Codex Product Manager: Several quality issues in Astra have been discovered and fixed. 3. ECB President Lagarde: A correction in the AI sector is entirely possible, but when it will happen is unclear. 4. Anthropic CEO calls for slowing down the pace of improving AI model capabilities to ensure their security. OpenAI founders Altman and Musk subsequently made similar statements. New Energy Vehicles: 1. Cui Dongshu of the China Passenger Car Association: The current downturn in the passenger car market is a phase of structural fluctuation. 2. Tesla announces it will showcase its next-generation Roadster electric supercar on October 1st; speculation about a SpaceX merger intensifies. Other: 1. 2025 World-Class Scientific Journals Directory Released. 2. Joint construction of the Yangtze River Delta Scientific Data Sharing Service Platform launched. 3. Xiongan International Computing Power Integrated Dispatch Center launched. 4. Report: China ranks second in global space infrastructure assessment. 5. Major Project of the National Natural Science Foundation of China Yangtze River Delta Basic Research Joint Fund launched. 6. The Dark Side of the Moon: Information circulating online regarding the founder and employees is malicious fabrication; a police report has been filed. 7. Oracle co-founder Larry Ellison has cancelled plans to sell up to $7.5 billion worth of Oracle shares. 8. SpaceXs weighting in the Nasdaq 100 index will increase after the index adjustment, expected to rise from approximately 1.28% to approximately 2.82%.September 13th - Due to the conflict between the United States and Iran disrupting global fuel supplies, U.S. diesel prices hit a record high on September 4th, surging to an average of $5.85 per gallon for the first time. Prices subsequently rose further, with the American Automobile Association stating that as of September 11th, the national average diesel price reached $6.05 per gallon, setting another record high. Paul Mitchell, professor of agricultural and applied economics at the University of Wisconsin-Madison, stated that high diesel costs are severely squeezing farmers profit margins, affecting every stage from harvesting to final transportation. Mitchell said, "The prices are unbearable. The cost pressure isnt just in the harvesting stage, but also in all transportation expenses: getting grain or silage from the field to the farm, and then from the farm to the sales point—someone has to bear that transportation cost. And rising diesel prices push up all of those costs."Conflict Update: 1. Saudi Arabia claims Houthi attacks injured two people. 2. Houthis claim Saudi Arabia launched 129 airstrikes on Yemen in 48 hours. 3. Houthi rebels claim to have used numerous ballistic missiles and drones to attack Saudi military facilities. Strait of Hormuz: 1. US President Trump: We control the Strait of Hormuz. 2. Iran and Oman will brief on the results of navigation negotiations in the Strait of Hormuz. 3. British media: The US restricts air defense hours for oil tankers passing through the Strait of Hormuz. 4. US Central Command: 100 ships have been diverted in the past 60 days. 5. According to Bahrains National News Agency: Bahrain stated it will not participate in the meeting with Iran regarding the Strait of Hormuz. 6. Iranian media, citing sources: The agreement reached between Iran and Oman does not mean the Strait of Hormuz is open. Other Matters: 1. BRICS countries call on Middle Eastern countries to exercise maximum restraint. 2. Iranian Embassy in India: The Iranian President met with the Crown Prince of Abu Dhabi in New Delhi, India. 3. The Iraqi Foreign Minister spoke with the Iranian Foreign Minister to discuss the closure of border crossings and the attack on Saudi Arabia. 4. The head of the Atomic Energy Organization of Iran departed for Vienna to attend the IAEA General Assembly and meet with representatives from multiple countries. 5. The Iraqi military stated that Iraq agreed to Irans request to jointly investigate the existence of drone launchers along the border between the two countries. 6. Trump stated that the war will end soon; Iran may be responsible for the attack on the Saudi pipeline; the Houthis do not want to fight us. 7. Iraqi military sources stated that the Taib border region between Iraq and Iran has been closed after the drone launch site was discovered. 8. Ibrahim Aziz, Chairman of the National Security Committee of the Iranian Parliament, stated that there are no negotiations. Negotiations are meaningless unless Irans conditions are met. 9. The head of the Bushehr Airport Authority in Iran stated that after a six-month hiatus, Bushehr Airport resumed its first international flight, the Bushehr-Dubai route operated by Qeshm Airlines.On September 13th, it was reported that the Houthi rebels in Yemen have recently intensified their offensive against government forces and seized control of strategic locations in the Red Sea. Experts analyze that changes in the balance of power within Yemen and the conflict between the United States and Iran are the reasons for the rapid escalation of the conflict in Yemen. Li Zixin, assistant researcher at the China Institute of International Studies, stated that firstly, since the sudden escalation of the current Israeli-Palestinian crisis in October 2023, the Houthi rebels have frequently conducted military operations in the Red Sea under the pretext of supporting Hamas. During this process, the Houthis have continuously trained in missiles, drones, and cross-sea strikes, and have also cooperated to a considerable extent with regional allies, gradually enabling them to operate on multiple fronts. Secondly, since the UN-mediated ceasefire agreement in 2022 failed to be renewed, the various factions within the Yemeni government forces have never been able to effectively integrate. Currently facing multiple Houthi attacks, the US forces are almost instantly routed, with some even retreating before the battle even begins. Within nine days, they have lost several strategic locations, including the Mukha and Hanish Islands, surrendering areas once largely controlled by the government forces to the Houthis. Thirdly, with the US deeply mired in the war against Iran, the Houthis have precisely seized upon this power vacuum.On September 13, U.S. Under Secretary of Defense for Acquisition and Sustainment, Duffy, recently urged Congress to expedite the approval of the Trump administrations $1.5 trillion defense budget for fiscal year 2027 to allow the U.S. military to replenish its stockpiles of critical weapons and ammunition. Duffy stated that the Department of Defense has already signed procurement contracts with defense contractors and is awaiting funding to meet the needs of warfighters. The Pentagon will work with Congress in the coming months to ensure all defense projects receive full funding.

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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