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Iranian Deputy Foreign Minister Khatibzadeh: The United States and Israel have always believed that carrying out a terrorist attack would lead to a split within Irans political and security system. But they have witnessed firsthand how the Iranian people, officials, and soldiers have all stood their ground in the name of Iran, without even submitting leave applications.Iranian Deputy Foreign Minister Khatibzadeh: What has happened in Iran over the past year is a prime example of the terrorist camp taking action against the camp of justice and resistance. It is necessary to establish a museum to display the remains of all the victims.Iranian Deputy Foreign Minister Khatibzadeh: Everything that the “terrorist camp” has done to the Iranian people over the past few years will be forever recorded in history.Irans First Vice President Aref stated that the wealthiest families in Iran consume approximately 23 to 24 times more gasoline than the poorest families. Meanwhile, the Iranian government is facing increasing pressure regarding fuel consumption, production, and prices.August 22 - Due to persistent high temperatures and drought, water levels in many important European rivers have dropped. French shipping company CMA CGM announced that due to the abnormally low water levels of the Rhine and other European rivers, inland waterway transport is severely affected, and an "Inland Emergency Transport Fee" will be levied on goods transported through three ports. CMA CGM stated that the persistently low water levels have led to reduced inland barge transport capacity, port congestion, longer cargo dwell times at docks, and increased operating costs. This emergency surcharge will apply to all inland transport methods passing through the aforementioned three ports. The recent prolonged high temperatures and drought in many parts of Europe, coupled with the dropping Rhine River water level, has already impacted shipping and energy supplies. The Rhine River is one of Europes most important inland waterways, connecting several countries including the Netherlands, Germany, France, and Switzerland.

Gold Prices Are at A 6-week Low as The FOMC Minutes Approach

Aria Thomas

Feb 22, 2023 11:57

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Gold prices stayed just above a six-week low on Wednesday, as markets remained cautious ahead of the release of the minutes from the Federal Reserve's February meeting and stronger-than-anticipated U.S. economic data bolstered the dollar.


In the wake of stronger-than-anticipated January inflation figures, bullion prices traded within a narrow band throughout the week. Along with indicators of resilience in the U.S. economy, they provide the Fed with sufficient space to continue rising interest rates.


At 19:13 E.T., spot gold was unchanged at $1,835.83 per ounce, while gold futures increased 0.1% to $1,845.70 per ounce (00:13 GMT). It is widely anticipated that the Fed's aggressive tone would be reaffirmed in the minutes due later in the day.


This week, the Fed's favored inflation indicator, the Personal Consumption Expenditures price index, will be released on Thursday. It is anticipated that the index stayed quite high in January.


Increasing interest rates are unfavorable for non-yielding assets such as gold and other precious metals because they boost the dollar and Treasury yields and the opportunity cost of owning gold.


The U.S. PMIs for February were also better than anticipated, according to statistics released on Tuesday. Any evidence of resilience in the U.S. economy offers the Fed greater room to continue raising interest rates, as the bank has said it would do in the near future.


But, fears about a potential U.S. economic downturn continued, especially in light of Tuesday's statistics showing a weakening housing market.


Other precious metals maintained a narrow trading range on Wednesday. Futures for platinum increased 0.1% to $945.95 per ounce, while futures for silver increased marginally to $21.900 per ounce.


Copper futures rose substantially on Tuesday as a result of the U.S. PMIs that were stronger than anticipated.


On Wednesday, high-grade copper futures stayed near a three-week high of $4.2170 per pound, following a 0.8% increase in the previous session.


The red metal was also boosted by confidence over China's economic rebound, particularly after the country maintained record-low interest rates this week.

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