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On June 9th, it was reported that on June 7th, Xu Shubiao, General Manager of State Power Investment Corporation (SPIC), met with Liang Huiling, Deputy Secretary of the Heilongjiang Provincial Party Committee and Governor of Heilongjiang Province, in Harbin to exchange views on deepening cooperation in the energy sector and jointly promoting the revitalization and development of Heilongjiang. Since the beginning of this year, SPIC has held working talks with Inner Mongolia, Qinghai, Henan, Hainan, Gansu, Jilin, Fangchenggang City of Guangxi Zhuang Autonomous Region, Xilingol League of Inner Mongolia Autonomous Region, Zhanjiang City of Guangdong Province, and the Hengqin-Macau Greater Bay Area in Guangdong Province, exchanging views on jointly planning key cooperation projects during the 15th Five-Year Plan period. Heilongjiang Province is willing to work with SPIC to deepen cooperation between the central and local governments and achieve win-win development in serving national strategies. This includes planning and constructing heavy-duty gas turbine projects, deeply participating in Heilongjiangs electricity-computer synergy pilot project and zero-carbon industrial park construction, and actively developing biomass straw and livestock manure resource utilization projects.According to the General Administration of Customs, Chinas crude oil imports in May 2026 totaled 33.081 million tons, compared to 38.471 million tons in April. From January to May 2026, Chinas crude oil imports totaled 218.364 million tons, compared to 229.457 million tons in the same period of 2025.According to the General Administration of Customs, Chinas refined oil exports in May 2026 reached 3.368 million tons, compared to 3.119 million tons in April. From January to May 2026, Chinas refined oil exports totaled 19.233 million tons, compared to 21.843 million tons in the same period of 2025.June 9th - According to customs data, in the first five months of the year, my countrys total trade with ASEAN reached 3.52 trillion yuan, a 16.6% increase; trade with the EU reached 2.53 trillion yuan, a 10.3% increase; and trade with the US reached 1.61 trillion yuan, a 6.6% decrease. During the same period, my countrys total imports and exports with countries participating in the Belt and Road Initiative reached 10.57 trillion yuan, a 13.6% increase.June 9th - A COVID-19 report released by the Democratic Republic of Congos (DRC) Ministry of Health on June 8th showed that the overall Ebola outbreak in the country continues to rise. As of June 7th, the cumulative number of confirmed cases in this outbreak had risen to 550, with 101 deaths. The report also indicated that the total number of recovered cases in the DRC has increased to 19. The report stated that while the recent number of newly reported cases has slightly decreased, this may be related to lag in updating testing data and does not yet indicate that the spread of the epidemic has weakened.

Forecast for the price of gold: XAU/USD upward to $1,745 with positive RSI divergence and weaker USD

Daniel Rogers

Sep 09, 2022 17:13

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Around $1,720 is where the gold price (XAU/USD) is currently leading early on Friday morning in Europe. In doing so, the yellow metal applauds widespread US dollar weakening and cautious market confidence. Technical signs can work in the buyers' advantage.

 

By press time, the US Dollar Index (DXY) had pared its largest daily loss in a month and was still near the one-week low. In doing so, the greenback indicator fails to support the aggressive remarks made by Fed Chair Jerome Powell the day before while emphasizing the stronger sentiment in the market.

 

Market confidence is influenced by tougher remarks made late Thursday by US Treasury Secretary Janet Yellen, which indicate that US-China trade relations are expected to improve. Recent stronger US statistics and optimism that global central bankers can combat inflation-driven blow with a comprehensive strategy and higher rates also appeared to have helped the market's sentiment. It should be noted that discussions about potential difficulties for Chinese technology companies and unfavorable inflation data for China recently seemed to test the XAU/USD bulls.

 

The US 10-year Treasury yields, which are indicative of the mood, are behind after a good day at around 3.32%, while the S&P 500 Futures tracks Wall Street's advances at about 4,020. The stocks in the Asia-Pacific region are also still firmer, it should be noted, as cautious optimism grows during a sluggish session.

 

The XAU/USD prices are probably going to finish the week on a high note given the risk-on mindset and depressed US dollar. The final round of Fedspeak before the blackout period, which begins this weekend, should nevertheless be paid heed to for new inspiration. Conversations on US inflation ahead of the US Consumer Price Index (CPI) statistics the following week will be crucial.


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