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February 21 - According to the China Development Bank (CDB), in 2025, CDB issued 786.3 billion yuan in loans to the urban renewal sector, focusing on supporting the renovation and upgrading of old urban residential areas, old streets, old factories, and urban villages, as well as the construction and renovation of urban infrastructure, the restoration of urban ecosystems, and the protection and inheritance of urban historical and cultural heritage. These efforts aim to optimize urban structure, improve functions, preserve cultural heritage, and enhance quality.February 21st - According to the Shanghai Municipal Public Security Bureau, during the Spring Festival, Shanghai police, in conjunction with emergency management, fire and rescue departments, and volunteer groups, implemented multiple measures including strengthened patrols and controls, crackdowns on illegal activities, and widespread public awareness campaigns to strictly enforce safety management requirements for fireworks and firecrackers, ensuring a safe and peaceful holiday for citizens. While strengthening control, Shanghai police also cracked down on illegal transportation, storage, and sale of fireworks and firecrackers. Since the start of the Spring Festival holiday, over 130 related cases have been investigated citywide, with over 150 boxes of fireworks and firecrackers seized, and over 110 people punished according to law for violating regulations.GFZ (German Center for Geosciences): A 5.93-magnitude earthquake has struck Papua New Guinea.February 21st - According to the Yellow River Conservancy Commission of the Ministry of Water Resources, the frozen section of the Yellow River in Inner Mongolia began thawing this morning (February 21st) up to the Sanshenggong Hub, 18 days earlier than usual, marking the start of the critical thawing period for the Yellow River. The thawing process was generally smooth, with no major incidents reported.The China Earthquake Networks Center officially determined that a 3.6-magnitude earthquake occurred in Haixi Prefecture, Qinghai Province at 13:24 on February 21, with a focal depth of 10 kilometers.

Gold Price Prediction: XAU/USD anticipates additional gains ahead of China and U.S. inflation

Alina Haynes

Jan 11, 2023 11:54

Gold price (XAU/USD) demonstrates usual pre-data concern as it approaches $1,875 on Wednesday morning, exploring a three-day rally around the highest levels since May 2022. In doing so, gold demonstrates the market's faith in the traditional safe-haven, even if the US Dollar recovers from its multi-day low. The uncertainty surrounding the next steps of the US Federal Reserve (Fed) and the pessimistic economic forecasts of the World Bank (WB), not to mention cautious optimism towards China, may be to blame.

 

Federal Reserve (Fed) Chair Jerome Powell's remarks at Riksbank's International Symposium on Central Bank Independence were unable to provide additional clarification on the US central bank's monetary policy outlook, which prompted a stampede for gold in the face of uncertainty. In his most recent public appearances, the policymaker lauded the US central bank's latest steps while emphasizing the Fed's independence and lack of commitment to climate control. Notably, Federal Reserve Governor Michelle Bowman seemed hawkish when she stated that additional rate hikes are required to combat excessive inflation, which should have pressured the XAU/USD bulls in the aftermath.

 

Notably, the recent softening of hawkish bets on the Fed's next moves, as well as lower US data, appear to keep gold investors optimistic, despite the Federal Reserve's efforts to defend its tight monetary policy. Tuesday, the US NFIB Business Optimism Index for December fell to its lowest level since 2013 if various anxieties caused by the worldwide Covid wave are disregarded. In addition, US Wholesale Inventories for November stayed constant at 1.0% growth.

 

Alternatively, a rebound in the US Dollar Index (DXY) from the seven-month low appears to pose a threat to the Gold price, due to the inverse link between the XAU/USD and the dollar's index against the six main currencies. Tuesday marked the conclusion of a two-day downturn for the DXY as it rebounded from the multiday low to settle at 103.30. In doing so, the US Dollar Index tracked the firmer US 10-year Treasury note yields, which increased 10 basis points (bps) to 3.61 percent, falling one basis point (bp) to 3.60 percent at the latest.

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