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Due to weather conditions, NASA and SpaceX have adjusted the launch date for the Crew-12 mission.On February 9th, Guansheng Co., Ltd. issued an announcement stating that it has noticed reports published by some media outlets online regarding "Guansheng Co., Ltd.s release of an intelligent bionic articulated arm in Shanghai." The reports claimed that the companys core component business for humanoid robots has entered the commercial mass production stage, and that its intelligent bionic articulated arm product has received over a thousand intended orders in the field of biomedical experimental equipment. The company clarified that the aforementioned reports are a misinterpretation by the media and do not represent the companys statements. The company will contact the relevant media outlets as soon as possible to delete the inaccurate statements and pursue relevant responsibilities to protect the companys reputation and legitimate rights, and safeguard the interests of its investors. The companys main business has not changed and remains focused on the research, development, production, and sales of automotive chassis system components. Currently, the intelligent bionic articulated arm product has no orders and has not generated any revenue. The wording in the related media reports is inaccurate; the product has not yet entered the mass production stage and is still a long way from mass production.On February 9th, Zhongmiao Holdings (01471.HK) announced in Hong Kong that its board of directors has noted the recent increase in the companys share price and trading volume. The board is pleased to announce that it has submitted an application to the China Securities Regulatory Commission (CSRC) to convert 105,895,600 unlisted domestic shares into H shares. Subject to obtaining all filings and/or approvals from relevant regulatory authorities (including but not limited to the CSRC and the Stock Exchange of Hong Kong), and upon compliance with all applicable laws and regulations, these unlisted shares will be converted into H shares and eligible for listing and trading on the Stock Exchange of Hong Kong.According to Hong Kong Stock Exchange documents, Vidali Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.According to Hong Kong Stock Exchange documents, Hangzhou Relian Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.

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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