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On February 9th, reports surfaced that Samsung Electronics was about to begin mass production of HBM4 memory chips used to build artificial intelligence infrastructure, sending the companys stock price up 6.4%. According to Yonhap News Agency, the South Korean tech giant plans to ship the semiconductor to Nvidia, a leader in AI accelerators, as early as the third week of February. Industry sources say these HBM chips will power the US companys upcoming Vera Rubin AI accelerator. Samsungs progress in high-bandwidth memory development indicates it is closing the gap with domestic competitors. As of last Fridays close, Samsungs stock price had risen more than 30% this year, as rising memory chip prices benefited all major players in the industry. Samsung may also have benefited from AI-related gains in the US stock market linked to data center construction. The four largest hyperscale companies plans to spend approximately $650 billion this year also contributed to Nvidias stock price rising nearly 8% last Friday.The Shenzhen Stock Exchange announced an adjustment to the list of securities eligible for the Hong Kong Stock Connect program, adding OmniVision Technologies and GigaDevice Semiconductor, effective February 9.On February 9th, Zijin Mining (02899.HK) announced that its board of directors approved the "Companys Three-Year (2026-2028) Major Mineral Product Production Plan and 2035 Vision Outline" on February 8th. The company plans to further improve its ranking in comprehensive indicators such as resource reserves, major mineral product production, sales revenue, asset size, and profit by 2028, with its copper and gold mineral product production entering the top three globally.Zijin Mining (02899.HK) released its production targets for major mineral products in 2026 and 2028, with gold production expected to reach 105 tons in 2026.February 9th - A survey closely watched by the Bank of Englands Monetary Policy Committee shows that while employers continued to reduce hiring for long-term positions in January, the pace of reduction slowed to its lowest level in 18 months. The survey, conducted by the Recruiting and Employment Confederation (REC), also showed that businesses increased the number of temporary workers deployed for the first time since October last year. Neil Carberry, CEO of REC, said: "As we head into 2026, there are increasing signs that uncertainty about hiring plans is translating into action. This doesnt mean a full-blown hiring rebound, but the wait-and-see period seems to be coming to an end." This REC report further supports the view that the UK economy is poised for a turnaround in 2026. A recent S&P survey showed that business expansion in January hit a 17-month high; a report from the Institute of Directors also indicated that executives are more optimistic about the outlook for sales, hiring, and investment.

Gold Price Prediction: XAUUSD will acquire bullish momentum if the Fed rejects a September rate rise

Alina Haynes

Jun 13, 2022 15:37

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On Monday, gold reached a fresh five-week high of $1,879 before retreating. On Wednesday of this week, the Federal Reserve is expected to make a decision. According to the research, the yellow metal might acquire positive momentum if Chairman Jerome Powell opposes a rate rise in September.

Fed is in the spotlight this week

"It is largely anticipated that the Fed would increase its policy rate by 50 basis points to the range of 1.25 percent to 1.5 percent." It shouldn't come as a surprise if the Fed opts for another 50-basis-point rate hike in July.

 

"The primary issue is whether the Federal Reserve will halt rate rises in September. If the Fed or FOMC Chairman Jerome Powell opposes a rate rise in September, this might be interpreted as dovish signaling and lead to a decrease in US Treasury bond rates. In such a case, gold will certainly gain upward momentum. Alternatively, if the Fed keeps the door open for another rate hike in September, the dollar should continue to outperform its competitors and weigh on XAUUSD.

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