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The main fuel oil futures contract rose by more than 5%, currently trading at 3,685 yuan per ton.The chart shows that at 22:00 Beijing time on August 11, there will be large foreign exchange options contracts for Euros, Japanese Yen, etc., expiring. There are 3 large contracts with strike prices of over 1 billion. Please manage your risks.On August 11, the Zaporizhia Regional Military Administration of Ukraine reported that Russia launched a large-scale combined attack on Zaporizhia using missiles and guided-missile bombs in the early hours of the day, resulting in 6 deaths and 19 injuries. The attack damaged four residential buildings and non-residential structures. All the injured have received medical attention. The Russian Ministry of Defense also reported on August 11 that Russian forces used land-based high-precision weapons to strike military industrial enterprises and logistics centers in Kyiv and Zaporizhia in the early hours of the day.Aluminum prices rose for the seventh consecutive day on August 11th as the prospect of a swift agreement to reopen the Strait of Hormuz faded, exacerbating market concerns that Middle Eastern supplies would remain constrained for the foreseeable future. The increasingly hardline stances of both the US and Iran mean a protracted tug-of-war to reach an agreement has dampened hopes for normalizing aluminum supplies, while global inventories are hovering near multi-decade lows. The Middle East accounted for about one-tenth of global production before the war. Aluminum prices surged at the beginning of the war before retreating as the US and Iran entered into negotiations. Prices have since resumed their upward trend, rising more than 8% since the end of June, driven by the continued delays in negotiations to end the war and investors reducing their bets on US interest rate hikes, fueling a broader rally in base metals.The local governor said that an industrial enterprise in Russias Orenburg region caught fire after being attacked by an "enemy drone".

Forecast for the price of gold: Gold Markets Give Up an Early Gain

Daniel Rogers

Jul 13, 2022 10:57

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Tuesday's trading session saw a little rally in gold prices, but those gains were quickly erased. Given that there have already been a few instances of sellers entering the market, it is more probable than not that the market will continue to drop lower. The $1750 level should continue to generate some noise. In the end, I believe that this market will continue to exhibit a lot of choppy behavior, mostly as a result of how strong the US dollar has been. That will continue to have a significant impact on both the gold markets and other commodity markets.

 

It is expected that the gold will decline and maybe approach the $1700 level if we break below the candle's bottom. The $1700 level has to be closely monitored because, based on all I can tell, a breakdown below it will trigger much more ferocious selling. In the end, I do not think this market has the momentum to change things anytime soon, at least not until we go well beyond the $1800 barrier, and it would almost probably have to do with a significant change in the bond markets.

 

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Considering this chart, it is likely that there will be a lot of commotion going forward, so pay attention to the size of your investment. You don't want to be overexposed in this market because, despite what the next move is, it's probable that we will have excessive noise and danger. This market, in my opinion, continues to experience a lot of harmful noise.


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