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According to an announcement from the Hong Kong Stock Exchange, on October 20, BlackRocks long position in Li Ning (02331.HK) fell from 5.10% to 4.38%.Russian Ministry of Defense: Russian troops have taken control of two settlements in eastern Ukraine.On October 24, Nissin Foods (01475.HK) announced that its Board of Directors has noted unusual recent fluctuations in the trading price and volume of the Companys shares. Having made all reasonable enquiries regarding the Companys circumstances, the Board confirms that it is not aware of (i) any reasons for such fluctuations in the price and volume of the Companys shares, (ii) any information that needs to be announced to avoid creating a false market in the Companys securities, or (iii) any inside information that needs to be disclosed under Part XIVA of the Securities and Futures Ordinance. The Board also confirms that the Groups business operations are normal, and there have been no material changes in the Groups business operations and financial position.On October 24, Julien Lafargue, chief market strategist at Barclays Private Bank, pointed out: "From the perspective of market impact, unless there is a significant upward surprise in the US inflation data, the market is unlikely to change its expectations for further interest rate cuts by the Federal Reserve." In addition to the frequent fluctuations in the trade war, the market has recently been boosted by a strong corporate earnings season. According to data tracked by the Atlanta Federal Reserve, before the government shutdown, the US GDP growth rate in the third quarter was close to 4%, showing that the economy still has amazing resilience. Although it is not easy to shake this optimistic narrative, if there is an unexpected CPI, it may be the trigger point. Stephanie Link, chief investment strategist at Hightower Advisors, said: "If the CPI data is higher than expected, I expect market volatility to increase. However, I will regard this as a buying opportunity because the current economy is still strong, the Federal Reserve has started a cycle of interest rate cuts, corporate profits are growing at a double-digit rate, and the fourth quarter has always been the strongest quarter of the year."On October 24, Zhongke Environmental Protection announced that its third-quarter revenue was 424 million yuan, a year-on-year increase of 9.39%, and its net profit was 102 million yuan, a year-on-year increase of 2.35%. For the first three quarters, its revenue was 1.272 billion yuan, a year-on-year increase of 6.06%, and its net profit was 298 million yuan, a year-on-year increase of 13.21%.

Gold Price Prediction: XAU/USD Expects a Steady Advance to $1,980 – Confluence Detector

Alina Haynes

Feb 02, 2023 15:58

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In the early hours of Thursday, the gold price (XAU/USD) reached $1,952.50, which is the highest level since April 2022. In doing so, the XAU/USD bulls appear to take a breather after climbing the highest in two weeks, as markets prepare for a couple more central banks and the U.S. employment report.

 

Nonetheless, the Gold price rose sharply the day before after the US Federal Reserve (Fed) weakened the US Dollar with its highly anticipated and anticipated dovish raise of 0.25 percent. However, the most attention was paid to the Fed's statement indicating waning inflationary pressure and Chairman Jerome Powell's suggestions of rate reduction in late 2023 if inflation falls more quickly. Additionally supporting the XAU/USD bulls were disappointing US data and anticipation for additional stimulus from China, not to mention rising equities and declining US Treasury bond yields.

 

In addition, monetary policy meetings of the European Central Bank (ECB) and the Bank of England (BoE) could indirectly influence the price of gold via the US dollar and market sentiment. However, the January jobs report for the United States will be an important indicator on Friday.