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August 23 (Xinhua) -- Ukrainian President Volodymyr Zelenskyy said during a meeting with media representatives on the 23rd that Ukraine is not yet in a position to hold elections during wartime, and that holding elections under the current circumstances would pose a significant danger of national disintegration. According to media reports, former Defense Minister Andriy Fedorov, who was dismissed by Zelenskyy, recently released a video calling for wartime elections in Ukraine, stating that the country is facing a governance crisis. Zelenskyy responded that day, saying that during the ongoing conflict, various parties have been pressuring Ukraine to hold wartime elections, but the prerequisite for such elections is that partner countries can provide Ukraine with specific conditions to ensure their safe and legal conduct. This would allow frontline Ukrainian soldiers and millions of Ukrainian citizens fleeing the war to participate in the elections safely, without the threat of attack.August 23 - The bond market has recently sent a clear signal to Treasury Secretary Bessant: dont try to sweep $40 trillion in U.S. Treasury bonds under the rug and pretend everything is fine. Bessant announced plans to increase long-term Treasury repurchases this fall, pledged to use the Treasurys vast "toolbox" to support the market, and discussed upcoming measures to curb the ever-expanding U.S. debt burden. John Arnold, a former Enron energy trader, billionaire, and founder of the philanthropic venture capital firm Arnold, said the summers bond market turmoil may ultimately be just "another quickly subsided episode," but the bigger concern is that the lack of change in the U.S. fiscal situation will persist until it finally triggers a crisis. Tracy Chan, a global portfolio manager at Brandiwin, said she is very nervous because Bessant has failed to curb long-term Treasury yields. The bond markets performance suggests that bond vigilantes still dont trust him. Bessant needs to do more to convince investors that the Trump administration is serious about U.S. fiscal issues, but talking about increasing revenue through tax increases or austerity measures before the November midterm elections will be unpopular.On August 23, according to the Wall Street Journal, Russian military officers flew from St. Petersburg to the Kaliningrad exclave last month. Western intelligence officials said these officers oversaw mobilization preparations and procedures for the regions residents, including specific details on how to house, supply, and arm mobilization personnel. Intelligence officials stated that the planning exercises in Kaliningrad were just one of many nationwide drills designed to prepare for a "call to arms." Officials said the Kremlin has not yet decided whether to actually carry out such an operation, and a decision is likely to be made after the parliamentary elections at the end of September. However, despite the slow and costly progress, Putins determination to seize the entire Donbas region of eastern Ukraine may force him to take action. Kaliningrad, the location of last months mobilization test exercises, has recently received increasing attention. Western intelligence officials have warned that the exclave could play a role in Moscows military plans.August 23 – According to the Jerusalem Post and Al Mayadeen TV, a senior Iranian official stated that Iran has been invited to join the Mecca Mutual Defense Agreement established earlier this month by Saudi Arabia, Turkey, and Pakistan. The invitation has not yet been officially confirmed by the Iranian Foreign Ministry or any of the three parties to the agreement. Mehdi Rahimi, head of the Islamic Consultative Conference News Agency, stated that Iran has received an invitation to join the Mecca Agreement, and the matter is under review. Rahimi added that countries in the region are "moving in the direction of seeking a regional security umbrella," and called this a victory for Iran, as it has long been advocating for this.On August 23, Syrian Transitional Government Foreign Minister Shibani stated in an interview with Reuters on the 22nd that Syria expects to resume negotiations with Israel soon on a security agreement, hoping the agreement will facilitate Israels withdrawal from Syrian territory. Shibani said that negotiations between Syria and Israel on a security agreement have been stalled since the outbreak of the US-Israel-Iraq conflict this year, but he anticipates they will resume. The United States is pressuring Israel to return to dialogue. Shibani also stated that the Syrian Transitional Government "currently does not trust Israel," but the current priority is to stop Israeli attacks, therefore "confidence-building measures" are needed. Communication between Syria and Israel was severed after the attack on Syrias Abu Zukur airbase on August 18.

After A Robust Ascent, Gold Prices Are Anticipated to Rise For A Fifth Week

Haiden Holmes

Jan 20, 2023 10:43

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Gold prices remained close to a nine-month high on Friday, following a significant increase in the previous session, and were poised for a fifth consecutive week of gains on the strength of swelling demand for safe-haven assets and growing uncertainty regarding the future direction of U.S. monetary policy.


In the previous session, prices of the yellow metal surged by approximately 1.5%, climbing in tandem with a significant plunge in stock markets as poor corporate profits and weaker-than-anticipated economic data fuelled worries of an impending economic crisis.


The Federal Reserve's hawkish comments further dampened sentiment. Despite indicators of decelerating inflation, Fed Vice Chair Lael Brainard warned on Thursday that interest rates will need to remain elevated so long as price pressures remain near 40-year highs. Her words paralleled those made by other Fed officials during the same time period.


However, the markets were uncertain as to the peak level of U.S. interest rates, as Fed officials provided predictions ranging from just below 5% to close to 6%.


As of 19:40 EDT, spot gold fell 0.1% to $1,930.90 per ounce, while gold futures were flat at $1,932.35 per ounce (00:40 GMT). Both assets were trading near their highest levels since April 2022, and weekly gains of 0.6% were anticipated.


Since figures demonstrated a continuous decrease in U.S. inflation, gold prices have increased, which is expected to persuade the Fed to adopt less aggressive action this year. In 2022, bullion prices were rattled by the Federal Reserve's hawkishness; nevertheless, the possibility of fewer rate hikes provided substantial relief.


In recent weeks, the potential of a global recession has raised the demand for gold as a safe haven, in light of several warnings that major economies could see a contraction this year.


Copper prices fell in early Asian trading, but were poised for a fifth straight week of gains due to enduring optimism on China's economic recovery.


Copper futures decreased 0.2% to $4.2408 per pound, but were up 0.6% for the week.


China, the largest importer of copper in the world, began reversing the majority of anti-COVID actions in December. As a result, the price of copper has increased significantly during the previous few weeks.


This year's growing fears of a recession have impeded recent gains in the price of the precious metal.

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