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On February 27, Pakistans Inter-Services Public Relations (ISPR) Director General Chaudhry stated at a press conference that Afghan forces launched attacks from within Pakistans territory on 53 locations in Pakistans Khyber Pakhtunkhwa province. Chaudhry also stated that all Pakistani targets were military objectives, and the attacks were controlled, causing no civilian casualties. Since the start of the conflict, 12 Pakistani soldiers have been killed, 27 wounded, and one missing. Furthermore, over 73 Afghan camps have been destroyed, and 115 tanks and artillery vehicles have been damaged. Eighteen camps are currently under Pakistani control. There has been no response from the Afghan side.February 27th - According to Afghanistans TOLOnews, Qatar has offered to mediate the conflict between Afghanistan and Pakistan to help ease tensions. The report states that Qatari officials have contacted Afghan government representatives and expressed their willingness to work towards de-escalating bilateral friction. It is currently unclear whether Afghanistan has responded to the mediation proposal.February 27th - ANZ Bank predicts that inflationary pressures in Japan will begin to ease this year, with core prices expected to gradually fall back to 2%. This will pose a challenge to the Bank of Japans mandate to maintain core inflation at this level. The bank notes that there are many factors to consider regarding Japans economic outlook. However, in the coming months, we expect domestic economic conditions to align with a gradual slowdown in inflation until 2026. The overall consumer price index rose 1.5% year-on-year in January, and we expect an average increase of 1.7% this year. We expect core inflation (2.4% year-on-year) to gradually decline, approaching 2.0%. We believe the Bank of Japan needs to proceed cautiously with further policy tightening. We expect only one more 25 basis point rate hike this year, as Japan gradually moves away from the zero lower bound, raising the policy rate to 1.00%.Zelenskys office: Ukrainian President Volodymyr Zelensky is speaking with the Slovak Prime Minister.A Pakistani military spokesperson stated: "Our targets are limited to military personnel and militants within Afghanistan."

Gold Applauds Dollar's Weakness, But Anticipates Sixth Straight Month of Declines

Charlie Brooks

Sep 30, 2022 10:49

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Gold prices rose little on Friday as dollar pressure eased further, but remained poised for a sixth straight month of falls as rising interest rates had a significant impact on the outlook for the yellow metal.


As a result of a series of hawkish U.S. acts and statements, it was anticipated that the price of bullion would decline by around 3 percent in September. Federal Reserve. Earlier this month, the dollar's climb to 20-year highs also placed pressure on gold.


This week, though, the dollar's weakening aided gold's small rebound from two-year lows. As a result of widespread profit-taking, the U.S. dollar fell 0.7% on Thursday and is forecast to lose 1.3% over the course of the week.


Gold prices on the spot market rose 0.1% to $1,662.86 per ounce by 19:30 EST, while gold futures rose 0.2% to $1,671.20 per ounce (23:30 GMT). The price of gold was anticipated to grow by 1.2% this week.


However, the yellow metal remained under pressure as U.S. interest rates continued to rise. The yield on the 10-year Treasury note has maintained at its 12-year high. This year, rising yields have reduced the allure of gold by increasing the opportunity cost of holding the non-yielding asset.


Multiple Fed officials repeated this week their intention to continue rising interest rates, which is expected to keep gold prices subdued for the remainder of the year. As global economic conditions deteriorate, though, gold could regain some of its safe-haven appeal.


Copper prices were headed for their first weekly increase in three weeks as a result of the dollar's depreciation.


Copper futures rose 0.2% to $3.4335 per pound and 2.6% over the past week.


As a result of weak global economic development, the forecast for copper consumption was anticipated to deteriorate significantly in September.


Currently, the market is focused on Chinese manufacturing activity data due later today. It is projected that factory activity in the largest copper importer in the world has fallen for the third consecutive month.


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