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On November 10, the Houthi rebels in Yemen warned on the 9th that if the ceasefire agreement in the Gaza Strip breaks down, the group will resume attacks on Israel and ban Israeli ships from sailing in the Red Sea and the Arabian Sea.Market news: Progressive Democratic lawmakers in the United States have expressed dissatisfaction with the emerging agreement to end the shutdown and are preparing to raise objections at a Senate Democratic caucus meeting.November 10th - On November 9th local time, the Federal Aviation Administration (FAA) reported that more than 15 air traffic control centers in the United States reported staff shortages that day. The FAA announcement indicated that some facilities at some of the busiest airports in the U.S., including New York, Washington D.C., Atlanta, Dallas, and Chicago, were affected. It is understood that staff shortages may force air traffic control agencies to reduce the number of flights at certain airports to maintain safety, potentially causing widespread delays.On November 10th, Goldman Sachs stated that a growing number of US investors are buying Japanese stocks, particularly those focused on technology and artificial intelligence, attracted by their strong returns relative to US stocks. Bruce Kirk, Goldman Sachs chief Japan equity strategist, said, "The pace of US capital inflows has reached its fastest level since Abenomics." He added that active participation by US investors in Japanese equities has reached its highest level since October 2022. This influx of US funds reflects the strong performance of Japanese equities this year, boosted by the appreciation of the yen and optimism surrounding Sanae Takashis stimulus policies. In dollar terms, the Nikkei 225 index has risen approximately 30% this year, far exceeding the S&P 500s 14% gain. Kirk believes there is still room for further foreign capital inflows, as global investors net holdings in Japanese equities remain well below the peak levels seen during "Abenomics," and continued global investors need for asset diversification may also support this trend.On November 10th, the Ukrainian State Electricity Company announced that due to Russias continued attacks on Ukrainian energy facilities, most regions of Ukraine will experience 24-hour power rationing on November 10th. The company stated that the rationing will last from midnight to 11:59 PM, and industrial users power consumption will also be limited during the same period. The Ukrainian government also urged the public to conserve electricity during peak hours.

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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