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On June 6, Mohsen Rezaei, military advisor to Irans Supreme Leader, warned in an interview with CNN on June 5 that if the fighting continues and the US does not lift its naval blockade of Iran, the conflict could spread to a wider area, including the Indian Ocean, and Iran would also strike more US military bases, at which point the US would suffer "very heavy" losses.Jamaican Energy Minister Daryl Wass said on social media on the 5th that Jamaica experienced a nationwide blackout that day, with several administrative districts losing power. The cause of the failure is still under investigation, and the national power company has begun emergency repairs.On June 6, Russian Presidential Aide Ushakov stated on June 5 that the United States has relegated the Ukraine issue to a secondary position, to some extent withdrawing from this issue that is "crucial to Russia but irrelevant to the United States." Speaking at the 29th St. Petersburg International Economic Forum, Ushakov said that the United States is currently prioritizing the Iran issue, and the Ukraine issue has been "placed in a secondary position." However, compared to the Biden administration, the Trump administrations policies have undergone "minor adjustments."June 6 – The Democratic Republic of Congo (DRC) Ministry of Health released a report on June 5 stating that as of June 4, the total number of confirmed Ebola cases in the DRC had risen to 452, with 82 deaths. The report noted that 71 new cases were reported on June 4 in Ituri and North Kivu provinces, indicating rapid and sustained community transmission in this outbreak. The report showed that 258 patients are currently in isolation or hospitalized, with 8 recoveries. The report stated that the current response to the outbreak faces multiple challenges, including some members of the public not cooperating with the sampling of remains of their relatives, insufficient standardized treatment capacity at Ebola treatment centers, low contact tracing rates, and shortages of basic medicines and protective equipment. Furthermore, there remains a funding gap for the response efforts.On June 6th, it was reported that, with the approval of the State Administration for Market Regulation (CNCA), the China National Accreditation Service for Conformity Assessment (CNAS) recently launched an accreditation system for product carbon footprint verification bodies. This system stipulates the basic qualifications, personnel capabilities, standardization of verification activities, and accreditation procedures for product carbon footprint verification bodies. The implementation of this system will further regulate the behavior of product carbon footprint verification bodies, improve the quality of product carbon footprint data, and contribute to the improvement of my countrys product carbon footprint management system.

Gold Price Prediction: XAU/USD stabilizes solidly above $1,750 as DXY retreats in front of Jackson Hole

Daniel Rogers

Aug 25, 2022 14:45

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During the Asian trading session, the gold price (XAU/USD) reached a fresh four-day high of $1,756.77. Prior to the Jackson Hole Economic Symposium, the US dollar index (DXY) is experiencing a self-off, which is favorable for the precious metal. The DXY has showed a gloomy initial trading session and has fallen to approach Tuesday's low of 108.36.

 

The foreign exchange (FX) market is anticipated to continue volatile as investors receive contradictory comments from analysts regarding Jerome Powell's Jackson Hole speech. Undoubtedly, the data indicate that price pressures are close to peak, and the loss in private sector activity causes the Fed to decrease the rate at which it is increasing interest rates.

 

However, the inflation rate is above 8%, and the Fed's onerous task of raising interest rates will continue for some time.

 

In addition, investors will focus on the Core Personal Consumption Expenditures (PCE) data for the second quarter, which is anticipated to remain unchanged at 4.4%.

 

On an hourly scale, gold prices are seeking to break above the 38.2% Fibonacci retracement at $1,758.40 (set from Monday's low of $1,727.87 to August 10's high of $1,807.93). At $1,756.20, the precious gold has pierced the 200-period Exponential Moving Average (EMA). In addition, the 50-day exponential moving average (EMA) at $1,748.46 is rising, adding to the upward filters. In addition, the Relative Strength Index (14) has moved into the bullish zone of 60.00-80.00, indicating further gain.