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On May 11, Indonesias Minister of Mining stated that Indonesia has postponed plans to further increase revenue from the mining sector, as authorities wish to delay implementation until an "ideal solution" that benefits both the government and mining companies is found. The Indonesian government had originally planned to increase royalties for some mining companies and impose export taxes on certain mineral products, including coal. Minister of Energy and Mineral Resources, Rahadalia, stated that the government is currently gathering feedback from mining companies to ensure that the final policies do not place an undue burden on the industry.On May 11th, the Guangzhou Municipal Artificial Intelligence Industry Development Office issued the "Key Points of Guangzhous Artificial Intelligence Industry Work in 2026." The document states that by the first half of 2026, an artificial intelligence industry investment fund will be established, targeted investment attraction along the industry chain will be implemented, and a dynamic management mechanism of "weak link list + targeted investment attraction plan" will be established. Policies and measures to support the development of artificial intelligence OPCs (one-person companies) will be formulated and implemented to stimulate the innovative potential of "super individuals" and strengthen new drivers for the citys future industrial development.On May 11, EU Enlargement Commissioner Marta Kos said on Monday that the EU may release the first tranche of its recently agreed €90 billion (approximately $105.8 billion) loan to Ukraine next week. Last month, the EU formally approved the €90 billion loan, which is expected to meet about two-thirds of Ukraines funding needs over the next two years. Kos told reporters in Brussels, "I hope that next week we can release the first tranche."On May 11th, the Guangzhou Municipal Artificial Intelligence Industry Development Office issued the "Key Points of Guangzhous Artificial Intelligence Industry Work in 2026." The document emphasizes accelerating the strengthening of industrial elements, particularly in intelligent computing power. It calls for standardizing the tiered development plan of "city data centers + park computing centers" in accordance with national and provincial policies, and optimizing construction standards for computing power projects. The document also stresses strengthening data supply by improving data circulation and trading mechanisms, deepening the authorized operation of public data resources, accelerating the creation of trustworthy data spaces for cities, industries, and enterprises, promoting the open sharing of data resources, driving the integration and application of multi-party data, and developing a number of high-quality multimodal datasets including text, images, audio, and video in key areas.The Iranian Foreign Ministry stated that the chaos at sea was due to measures taken by the United States and Israel.

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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