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The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 6.0 occurred at 22:27 on December 31 near the eastern coast of Honshu, Japan (40.43°N, 141.91°E). The final result is subject to the official rapid report.The Dow Jones Industrial Average opened 19.21 points higher, or 0.04%, at 48,386.27 on Wednesday, December 31; the S&P 500 opened 2.41 points higher, or 0.03%, at 6,898.65; and the Nasdaq Composite opened 16.50 points higher, or 0.07%, at 23,435.58.On December 31, 2025, CATL and the Xiamen Municipal Peoples Government signed a strategic cooperation agreement in Xiamen. The two parties will jointly build a zero-carbon science and technology city and explore new paths for the development of zero-carbon cities and industries. They will focus on building a global zero-carbon technology R&D center, vigorously developing zero-carbon technology services, and using the zero-carbon science and technology city as a core platform to attract and gather upstream and downstream enterprises in the zero-carbon industry, building a collaborative industrial ecosystem. CATL will leverage its existing industrial base in Xiamen, including Xiamen CATL, Xinengan, CATL Electric Services, and Shizheng Energy Storage, to comprehensively expand its zero-carbon ecosystem business layout.On December 31, Shandong Zhanggu announced that it had recently received a "Notice of Case Filing" (No.: CSRC Case Filing No. 0042025026) from the China Securities Regulatory Commission (CSRC). The CSRC has decided to file a case against the company for suspected violations of regulations regarding the disclosure of financial information in its periodic reports, in accordance with the "Securities Law of the Peoples Republic of China" and the "Administrative Penalty Law of the Peoples Republic of China."According to Hong Kong Stock Exchange documents, Beijing Roborock Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.

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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