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On August 23, it was reported that price competition for large-scale AI models has intensified recently, with several US AI companies lowering prices for their models. OpenAI, the US-based Open AI Research Center, announced on the 21st that it would reduce the base price of its cutting-edge GPT-5.6 Sol model for developers by over 20%, effective immediately. This discounted price will be valid for three months. At the end of last month, OpenAI also lowered the prices of other models, with mid-range models reduced by 20% and low-cost models by 80%. Furthermore, Google, a subsidiary of Alphabet, recently released Gemini 3.7 Flash and simultaneously lowered its price, making it approximately half the price of the previous version. Some US media analysts believe that the increasingly fierce price competition for large-scale AI models, particularly the open-source and pricing strategies of some Chinese AI companies, has put pressure on US companies.August 23 - According to sources, some of Nvidias major customers have been notified that server prices equipped with its AI chips will increase by more than 15% in most cases. The sources say the price increase will take effect early next year, affecting systems equipped with flagship Vera Rubin and Grace Blackwell chips. The specific increase will depend on the chip generation and memory configuration. The relevant communications have not yet been made public. The sources indicate that companies that manufacture servers for major data center operators such as Microsoft, Google, and Oracle have recently informed their customers of the price increase.August 23 - According to Turkeys Ihras News Agency on the 22nd, a merchant ship operated by a Turkish shipping company was attacked in the early hours of the day in waters near the Russian Black Sea port of Novorossiysk, resulting in the death of one crew member and injuries to eight others.French Presidential Palace: Saudi Arabias Vision 2030 is being aligned with Frances investment plan, and the Mecca Agreement is reshaping the alliance structure in light of regional developments.According to the Lebanese National News Agency, Israel continues its attacks on southern Lebanon, with airstrikes targeting the villages of Majlzoun, Konin, and Mansouri.

CPI Worry Lowers Gold, While China Uncertainty Lowers Copper

Haiden Holmes

Feb 13, 2023 14:06

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Gold prices sank to near one-month lows on Monday as traders awaited additional clues on the U.S. economy from critical inflation data due this week, while copper prices suffered sharp losses in the face of increasing concern regarding China's economic recovery.


In the past two weeks, as markets evaluated the prognosis for U.S. monetary policy, a surge in gold prices that began at the beginning of the year has slowed. The Federal Reserve has recently suggested that it intends to continue raising interest rates despite the recent decline in inflation.


It is anticipated that Tuesday's consumer price index (CPI) inflation figure would shed further light on where interest rates could eventually peak. Inflation is anticipated to have declined more in January compared to the previous month, but it continues to trend at rather high levels.


At 19:10 EDT, spot gold declined 0.2% to $1,862.42 per ounce, while gold futures fell 0.1% to $1,872.85 per ounce (00:10 GMT).


Increasing interest rates portend ill for gold and other non-yielding investments. The dollar's strength, which benefits from higher interest rates, also raises the price of gold, reducing demand.


In addition to rising short-term Treasury yields, the yield curve inversion in the United States reached its greatest depth since the 1980s. The trend indicates that the world's largest economy may experience a recession this year.


This scenario may be favorable for gold prices later in 2023, particularly if the Fed halts rate hikes in response to rising economic pressure. Gold was a popular safe-haven investment at the start of the year, as the currency declined and some economists warned of an impending recession.


Additionally, other precious metals fell on Monday. Futures for platinum lost 0.3% to $948.40 per ounce, while futures for silver fell 0.8% to $21.095 per ounce.


Copper prices declined marginally on Monday, following three consecutive weeks of significant falls due to uncertainties around a Chinese economic rebound.


Futures for high-grade copper declined 0.1% to $4.0107 a pound.


Copper prices plunged on Friday with the release of data indicating that Chinese CPI inflation climbed less than anticipated in January, while producer price index inflation weakened further despite the easing of anti-COVID regulations.


The lackluster data indicated that the economic recovery in the world's largest copper importer may take longer than anticipated, especially in light of the rising incidence of COVID-19.

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