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On September 15th, data from the National Bureau of Statistics showed that in August, the year-on-year decline in new residential property prices in first-tier cities was 0.9%, a decrease of 0.2 percentage points compared to the previous month. Specifically, prices in Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai saw an increase of 3.0%. In second- and third-tier cities, the year-on-year declines in new residential property prices were 2.7% and 4.1% respectively, both narrowing by 0.1 percentage points. In August, the year-on-year decline in existing residential property prices in first-tier cities was 2.7%, a decrease of 1.0 percentage point compared to the previous month. Specifically, prices in Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. In second- and third-tier cities, the year-on-year declines in existing residential property prices were 4.9% and 5.6% respectively, both narrowing by 0.2 percentage points.New Residential Housing Prices: 1. Beijing: August new residential housing prices -0.2% month-on-month (previous value -0.3%), -2.3% year-on-year (previous value -2.3%). 2. Shanghai: August new residential housing prices +0.4% month-on-month (previous value +0.2%), +3.0% year-on-year (previous value +3.0%). 3. Guangzhou: August new residential housing prices +0.1% month-on-month (previous value +0.1%), -1.9% year-on-year (previous value -2.2%). 4. Shenzhen: August new residential housing prices +0.2% month-on-month (previous value +0.2%), -2.3% year-on-year (previous value -2.9%). Second-hand Residential Housing Prices: 1. Beijing: August second-hand residential housing prices -0.1% month-on-month (previous value 0.0%), -3.5% year-on-year (previous value -4.5%). 2. Shanghais existing home prices in August increased by 0.3% month-on-month (previous value +0.3%) and decreased by 0.8% year-on-year (previous value -2.0%). 3. Guangzhous existing home prices in August remained unchanged month-on-month (previous value +0.4%) and decreased by 3.8% year-on-year (previous value -4.7%). 4. Shenzhens existing home prices in August increased by 0.1% month-on-month (previous value +0.2%) and decreased by 2.7% year-on-year (previous value -3.6%).National Bureau of Statistics: Beijings second-hand housing prices in August decreased by 0.1% month-on-month (previous value +0%) and decreased by 3.5% year-on-year (previous value -4.5%).According to the National Bureau of Statistics, the price of second-hand residential properties in Shenzhen rose 0.1% month-on-month in August (up 0.2% in the previous month) and fell 2.7% year-on-year (down 3.6% in the previous month).September 15th - The 2026 China Carbon Market Conference was held in Wuhan, Hubei Province this morning, and the "National Carbon Market Development Report (2026)" was released at the conference. Reporters learned that as of the end of August, the national carbon emission trading market had accumulated transactions exceeding 900 million tons, with a transaction value exceeding 60 billion yuan. The national carbon market has grown from nothing to a significant stage, playing a crucial role in promoting the achievement of carbon peaking and carbon neutrality goals.

Gold and Precious Metals Rise as Dollar Rally Fails to Continue

Skylar Williams

Aug 05, 2022 11:02

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As the U.S. dollar's upward trend began to level out on Thursday, the price of gold and most other precious metals rose.


At 20:56 EST (0057 GMT), the current price of gold was $1,767.41 per ounce, an increase of 0.1 percent. The price of gold futures increased by 0.4% to $1,783.60 per ounce.


Platinum futures gained by 0.1%, while silver futures jumped by 0.6% after falling by 1.0% over the previous two days.


Following a two-day surge, the U.S. dollar dropped, causing precious metals prices to rise. In the past two days, the dollar index has risen around 1 percent, as hawkish comments from two Federal Reserve officials have fueled expectations for more rapid interest rate increases this year.


Mary Daly, president of the Federal Reserve Bank of San Francisco, and Charles Evans, president of the Federal Reserve Bank of Chicago, both opined that inflation is elevated and that the Federal Reserve will likely increase interest rates further to combat rising prices.


Additionally, a potential improvement in U.S.-China ties fueled demand for the dollar as a safe-haven asset.


The U.S. Dollar Index declined by 0.1 percent during Asian trade on Thursday. Futures for the U.S. Dollar Index fell within a comparable range.


Despite the fact that gold appears to have recovered some ground over the past two weeks, the yellow metal's outlook for this year remains bleak due to the possibility of rising interest rates. As the Federal Reserve continues to tighten monetary policy, it is projected that the prices of the vast majority of other precious metals will also undergo muted fluctuations.


On the industrial metals market, copper futures decreased 0.2% to $3.4710 a pound. Futures for Zinc declined by 0.8% while futures for Nickel climbed marginally.


Copper prices dropped significantly this week as a result of a string of poor manufacturing PMIs from across the world. This pattern of poor manufacturing statistics is projected to weigh on industrial metals in the coming months.

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