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On February 14, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended the Munich Security Conference and delivered a speech and answered questions at the "China Session." When asked about Chinas role in resolving regional conflicts, particularly the Ukraine issue, Wang Yi stated that Chinas position is clear: all regional hotspots should seek political solutions through dialogue and consultation, and the same applies to the Ukraine issue. However, China is not a party to the conflict, and the decision-making power is not in Chinas hands. What we can do is to promote peace talks. We have dispatched special envoys to mediate and, through various channels, emphasized to all parties that a ceasefire should be implemented as soon as possible, and that everyone should return to the negotiating table.On February 14, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended the Munich Security Conference, delivered a speech at the "China Session," and answered questions from the audience. Wang Yi emphasized that the erroneous remarks by Japanese leaders on the Taiwan issue exposed Japans undying ambition to invade and colonize Taiwan and the lingering specter of reviving militarism. Japan launched its invasion of China and attacked Pearl Harbor under the pretext of a so-called "crisis and existential crisis." The lessons of history are still fresh and must be heeded. If Japan does not repent, it will inevitably repeat the same mistakes. Good people should be vigilant. First and foremost, the Japanese people must be reminded not to be blinded and coerced by far-right forces and extremist ideologies again. All peace-loving countries should also warn Japan: if it chooses to go back to its old ways, it will only lead to its own destruction.Joint statement from the UK, Switzerland, France, Germany, and the Netherlands: We and our partners will use all policy tools at our disposal to continue to hold Russia accountable.Joint statement from the UK, Switzerland, France, Germany, and the Netherlands: We further express our concern that Russia has not destroyed all of its chemical weapons.The United Kingdom, Sweden, France, Germany, and the Netherlands issued a joint statement regarding the death of Alexei Navalny.

Gold Treads Water Pending Additional Fed Hints

Haiden Holmes

Feb 21, 2023 11:27

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Gold prices hovered slightly around six-week lows on Tuesday, as traders waited for more monetary policy clues from the Federal Reserve's February meeting minutes before placing large wagers.


This week, markets were also anticipating a spate of Fed speakers, as hot U.S. inflation and a robust labor market put the central bank's policies in the spotlight.


Although U.S. markets were closed on Monday for a holiday, trading on gold and other metals has been limited so far this week. The continued demand for the dollar in Asian and European trade capped the price of metal.


At 20:32 ET, spot gold was unchanged at $1,841.59 per ounce, and gold futures were slightly changed at $1,850.25 per ounce (01:32 GMT). Both assets have suffered three consecutive weeks of losses.


Hotter-than-expected The recent gain in gold prices was abruptly halted by the U.S. inflation data as investors sharply reviewed their expectations for interest rate hikes this year.


The Fed has sufficient motivation to continue to raise interest rates due to persistent inflation and indicators of a robust labor market. Wednesday's release of the minutes from the Fed's February meeting is expected to confirm the central bank's hawkish position.


An increase in U.S. Treasury yields and the value of the dollar weighted hard on non-yielding assets such as gold and other metals. With U.S. yields and interest rates expected to grow further in tandem, the near-term picture for gold remained bleak, as Fed officials cautioned that U.S. interest rates could surpass 6% this year.


Gold and other precious metals could profit from safe-haven buying later in the year, particularly if slower economic growth pushes the Federal Reserve to reverse its hawkish strategy.


On Tuesday, prices for other precious metals were modest. Futures for platinum increased 0.2% to $929.40 per ounce, while futures for silver decreased 0.2% to $21.780 per ounce.


Copper prices declined marginally on Tuesday, following a 1.5% increase in the previous session, despite persistent optimism on China's economic rebound.


Futures for high-grade copper dipped 0.1% to $4.1730 per pound.


Monday's decision by the People's Bank to maintain historically low mortgage rates bolstered optimism for a Chinese economic revival. Although the action was widely anticipated, it showed that the administration intended to maintain accommodating policies to stimulate economic growth.

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