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On March 18th, E Fund Management Co., Ltd. issued an announcement stating that the secondary market trading price of its E Fund Crude Oil Securities Investment Fund (QDII) Class A RMB shares was significantly higher than its net asset value (NAV). On March 16th, the NAV per share was 1.6414 yuan, while as of March 18th, the closing price on the secondary market was 1.896 yuan. Investors are reminded to pay attention to the premium risk, and blindly buying at a high premium may result in losses. If the premium does not effectively decrease, the fund may apply for a temporary suspension of trading. This fund primarily invests in overseas crude oil ETFs, which carry high risk. Currently, it is operating normally, and there is no undisclosed material information.On March 18th, Harvest Crude Oil LOF issued an announcement stating that its secondary market trading price has recently exceeded its net asset value per unit, resulting in a significant premium. If the premium does not effectively decrease by March 19th, the fund reserves the right to take measures such as temporary trading halts during trading hours. The fund primarily invests in high-risk crude oil-related public funds, and subscriptions have been suspended since February 3rd. Currently, the fund is operating normally and there is no undisclosed material information. Investors are reminded to pay attention to the premium risk and invest prudently.Austrian Chancellor: Further measures are needed to address the impact of the situation in Iran on oil prices.March 18th - According to data released by the China Passenger Car Association (CPCA), from March 1st to 15th, the national passenger car market retail sales reached 561,000 units, a year-on-year decrease of 21% and a month-on-month increase of 2%. The cumulative retail sales since the beginning of the year reached 3.14 million units, a year-on-year decrease of 19%. From March 1st to 15th, the national new energy passenger car market retail sales reached 285,000 units, a year-on-year decrease of 28% and a month-on-month increase of 36%. The cumulative retail sales since the beginning of the year reached 1.345 million units, a year-on-year decrease of 26%.On March 18th, the China Automobile Dealers Association issued a statement saying that the Chinese auto market in 2025 will be complex and volatile. The government has introduced numerous policies to support and stabilize auto consumption, particularly the "two new" policies, which have effectively stimulated demand. However, on the distribution side, most auto dealers failed to meet their annual sales targets, price inversions persisted, losses in new car sales worsened, and the number of dealers experiencing losses increased while profitability narrowed. In 2025, more than half of the dealers failed to meet their annual sales targets, while only 44.3% met them. The sales target achievement rate was lower than in 2024. There was a significant difference in target achievement rates between domestic brands and luxury/imported brands and joint venture brands. Over 50% of dealers for luxury/imported brands and joint venture brands met their annual targets, while domestic brands generally had aggressive targets and the lowest target achievement rate.

Forecast for the price of gold: XAU/USD hopes to reclaim $1,800 as investors lower their expectations for US inflation

Alina Haynes

Aug 10, 2022 11:29

截屏2022-06-10 下午4.40.17_1024x576.png 

 

After reaching a new monthly high at about $1,800.00 on Tuesday, the price of gold (XAU/USD) is now showing a contraction in volatility. On Tuesday, the precious metal made a respectable rise to the north before moving sideways in anticipation of the US Consumer Price Index (CPI). According to the street estimates, the inflation rate decreased considerably from the previous announcement by 40 basis points (bps) to 8.7%. The price rise index, however, is very likely to make an unexpected shift.

 

The investment community is aware that rising oil prices continued to be the key factor pushing up price pressures. Now, concerns about fixed supply and a bleak demand forecast on the oil front have caused an even greater decline in oil prices. The inflation rate will also show the multiplier effect.

 

Additionally, the positive US Nonfarm Payrolls (NFP) data from last week suggests that the inflation rate may climb more than expected. In contrast to the 372k jobs added in June, the US economy added 528k new employment in July. Well, until the dust settles for a longer period of time, officials at the Federal Reserve (Fed) will still have a difficult task.

 

Following a robust recovery from the lower part of the Rising Channel at roughly $1,765.00, gold prices are currently rising quickly. The upper part of the aforementioned chart pattern is drawn from the high of July 22 at $1,739.37, and the lower part is drawn from the low of July 27 at $1,711.55.

 

The upside filters are strengthened by the scaling higher of the 20- and 50-period Exponential Moving Averages (EMAs) at $1,785.15 and $1,772.00, respectively. Additionally, the Relative Strength Index (RSI) (14) has moved into the bullish zone of 60.00-80.00, indicating further gains are still to come.


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