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On September 6th, local time, on September 5th, Venezuelan President Nicolas Maduro issued a statement calling on US President Donald Trump to abandon his plans for violence in Venezuela and warning that recent US military actions in the Caribbean pose a direct threat to regional stability. In his statement, Maduro condemned the US government for using the fight against drug trafficking as a pretext to promote regime change in Venezuela. He said the US is attempting to "use the drug problem to fabricate a completely false pretext to invade the entire country." Maduro emphasized that Venezuela, a country without coca cultivation or cocaine production, continues to combat drug trafficking networks. He reiterated that Venezuela respects the United States and hopes to receive respect in return.On September 6, according to Indian Asian News International (ANI) and other media reports, US President Trump said at the White House on September 5 local time on US-India relations, "I am always a friend of Modi" and "there is no need to worry" about the relationship between the two countries. Earlier, some US media broke the news that Trump might cancel his visit to India in the fall due to the cooling of relations with Indian Prime Minister Modi. ANI said that when asked by the media reporter whether he was ready to restart relations with India, Trump said, "I always want to do so. I am always a friend of Modi. He is an outstanding prime minister. I just dont like what he is doing at the moment, but I will always remain friends. But India and the United States have a very special relationship. There is no need to worry. We just have some small episodes occasionally."On September 6, Yueda Kias sales in August 2025 reached 20,974 vehicles, with monthly sales exceeding 20,000 vehicles for six consecutive months; the cumulative sales from January to August were 165,036 vehicles, a year-on-year increase of 7%; 20,000 vehicles were produced in August, and the cumulative production from January to August was 163,270 vehicles, a year-on-year increase of 9.5%; at the same time, 11,992 engines were exported in August, and the cumulative exports from January to August were 83,719 units. Production and sales continued to show a steady growth trend.On September 6th, Shenzhen Xiangfei Automobile Sales Co., Ltd., a restructuring investor in WM Motor, released a "White Paper to Suppliers" via WM Motors official Weibo account, announcing the companys five-year development plan for the new WM Motor. The company plans to launch more than 10 new products over the next five years to meet the diverse needs of the global market. Xiangfei stated that it is fully committed to quickly resuming mass production of the WM Motor EX5 and E5 models at its Wenzhou base, aiming for a minimum of 10,000 units by the end of 2025, with a goal of 20,000, generating "projected revenue of 1-2 billion yuan." According to the white paper, Xiangfei plans to initially invest 1 billion yuan in equipment upgrades, supply chain recovery, and product development.On September 6, Xiaopeng Motors: Xiaopeng Charging added 39 self-operated stations in the 35th week of 2025, including 1 S5 super-fast charging station, 34 S4 super-fast charging stations, 2 super-charging stations, and 2 destination stations.

Gold Price Analysis: XAU/USD bulls assault $1,750 as market participants prepare for Jackson Hole

Alina Haynes

Aug 25, 2022 14:50

 截屏2022-08-24 下午3.50.19_1024x576.png

 

After a two-day rally, the gold price (XAU/USD) remains on the defensive at $1,752 during Thursday's Asian session. In doing so, gold reflects the market's nervousness in advance of significant data/events and in response to the mixed results of recently revealed information.

 

In spite of this, US Durable Goods Orders for July fell to 0.0%, compared to 0.6% projected and a revised up 2.2% prior estimate. Nondefense Capital Goods Orders excluding Aircraft, however, surpassed the 0.3% market consensus to reach 0.4%, up from 0.9% previously. Additionally, Pending Home Sales improved to -1.0% MoM in July, compared to -4.0% projected and -8.9% previously (revised down from -8.9%). Annually, Pending Home Sales declined by 19.9%, compared to the previous annual decline of 20%.

 

On the other hand, economic fears support the US dollar's safe-haven demand, as S&P Global Market Intelligence's Executive Director of Economic Research, Sara Johnson, said in a statement on Wednesday that global growth is expected to remain subdued in late 2022 and 2023, while inflation is anticipated to moderate over the next two years.

 

However, predictions that China will overcome its recessionary troubles and that Fed Chairman Powell will reiterate his cautious words at Jackson Hole appeared to have weighed on the DXY bulls. "Various Chinese official media organizations are defending the yuan following its recent fall, arguing that the country's robust exports could offset a stronger dollar and hawkish Federal Reserve rate hikes," Reuters reported on Wednesday. Due to China's role as one of the world's major gold consumers, gold traders are increasingly concerned about the dragon nation.

 

XAU/USD may experience a pullback if Fed Chair Jerome Powell surprises markets with a hawkish tone amid recession fears, given the current mixed market conditions and the US dollar's reluctance to re-establish its multi-year high.

 

The second edition of the US GDP for the second quarter will be added to the US Personal Consumption Expenditure (PCE) for the same period to beautify the calendar intraday. However, Jackson Hole will receive the most of the focus for new initiatives.

 

Despite recent inactivity, the gold price maintains the rebound above the prior resistance line from mid-April, suggesting more higher momentum towards a 10-week-old resistance line near $1,788.


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