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On April 28, the reporter learned that the China Securities Association is soliciting opinions from the industry on the "Guidelines for the Management of Investment Behavior of Directors, Supervisors, Senior Managers and Securities Practitioners of Securities Companies (Trial) (Draft for Comments)". The comments require that securities companies fully cover personnel management and behavior management, strengthen the management of key position personnel, and require securities companies to optimize resource allocation and strengthen the investment behavior management of key position personnel. By taking measures such as increasing the frequency of declarations, strengthening transaction behavior monitoring, including in the key verification list, and increasing the frequency of inspections, the pertinence and effectiveness of investment behavior management will be improved. It is reported that this move is mainly to prevent practitioners from illegal investment behaviors such as illegal stock trading, insider trading, trading using undisclosed information, market manipulation, conflicts of interest and interest transfer, protect the legitimate rights and interests of investors, and maintain the order of the securities market.According to Hong Kong Stock Exchange documents: SERES Group Co., Ltd. submitted an IPO application to the Hong Kong Stock Exchange.April 28th news: On April 28th local time, Russian President’s Press Secretary Peskov said that there is currently no new call arrangement between Russian President Putin and US President Trump, but emphasized that "if necessary, they can quickly coordinate and organize dialogue."Tesla (TSLA.O) rose 2.4% in premarket trading after closing up 9.8% in the previous session.Russian President Vladimir Putin issued a written statement on the 28th, thanking the North Korean soldiers for assisting the Russian army in retaking Russias Kursk Oblast.

Gold Price Prediction: XAU / USD Bulls encounter resistance, while bears eye trendline support

Alina Haynes

Mar 13, 2023 11:24

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Gold price was approximately 0.5% higher at the start of the week following a 2% increase in the first hour of Tokyo trade on Friday, and as US authorities announced plans to limit the repercussions from the failure of Silicon Valley Bank (SVB). Gold is currently trading at $1,878 and ranges from $1,867.03 to $1,894.68 at the time of writing.

 

In a joint statement, the US Treasury and Federal Reserve announced a number of measures to stabilize the banking system and announced that depositors at SVB would have access to their funds on Monday. The Biden administration on Sunday guaranteed that customers of the failed Silicon Valley Bank will have full access to their funds beginning Monday. Treasury Secretary Janet Yellen, Federal Reserve Chair Jerome Powell, and Federal Deposit Insurance Corporation Chairman Martin J. Gruenberg stated in a joint statement on Sunday that the FDIC will compensate SVB and Signature's customers in full.

 

Investors hypothesized that the Federal Reserve would be reluctant to upset the boat by increasing interest rates by a massive 50 basis points this month, resulting in a weaker US Dollar. Fed fund futures surged in early trading, implying only a 17% chance of a half-point hike, down from 70% before the SVB announcement last week. The apex for rates was 5.14%, down from 5.69% last Wednesday, and markets were even pricing in rate cuts by the end of the year. In a move that has benefited the price of gold, yields on two-year Treasuries fell to 4.445%, well below last week's peak of 5.08%.

 

In the meantime, speculators will focus on the US Consumer Price Index data that will be released on Tuesday. Even though the financial system is under stress, there is the possibility of a more aggressive Federal Reserve if the data comes in strong. ´´Core prices likely gained momentum in February with the index increasing a robust 0.5% MoM, as we look for the recent substantial relief from goods deflation to start normalizing,´´ analysts at TD Securities explained. "Shelter inflation is likely to remain the most significant wild card, while a decline in petroleum and food prices will likely reduce non-core CPI inflation. Our m/m forecasts imply total/core price growth of 6.1%/5.5% YoY.