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UAE Presidents Foreign Policy Advisor: The UAE is exercising restraint and seeking a way out for Iran and the region.The UAE presidents foreign policy advisor said Irans accusations against the UAE are "part of its unwise and chaotic policy."On March 15, S&P Global Ratings affirmed Saudi Arabias sovereign credit rating, adding that despite disruptions, non-oil growth momentum and related non-oil revenues should help support the economy. S&P stated that Saudi Arabia should be able to withstand the impact of the current conflict with Iran. S&P noted that the country should be able to shift oil exports to the Red Sea, utilize its vast oil storage capacity, and increase oil production post-conflict. The Saudi government should also be able to adjust investment spending related to "Vision 2030," a strategic framework launched by the country in 2016.On March 15th, Matt Reed, Vice President of the geopolitical and energy consultancy Foreign Reports, stated that an attack on Kharg Island could trigger Iranian retaliation against Gulf oil-producing countries. He said, "Iran will retaliate in kind." The United States warned on Friday that if Iran continues to block the Strait of Hormuz, Kharg Islands oil facilities could become the next target. Reed warned that the longer the conflict continues, the harder it will be to find alternative energy supplies. "At least 10 million barrels of oil are trapped in the Gulf every day, plus more than 4 million barrels of refined petroleum products and tens of billions of cubic feet of liquefied natural gas, with no easy alternatives." The International Energy Agency has announced the largest emergency oil reserve release in history, with 32 member countries planning to release approximately 400 million barrels of oil. However, Reed believes this measure will have limited effect, stating, "By the time the oil gets to the market, it may be too little, too late." He described it as nothing more than a "band-aid."On March 15th, local time, the Iranian Islamic Revolutionary Guard Corps issued a statement saying that in the past 48 hours, the US and Israel had launched attacks on several civilian industrial facilities in Iran, resulting in the deaths of several workers. The statement said that after setbacks in its confrontation with Iran, the US and Israel have turned to attacking non-military industrial facilities. Iran warned that US companies in the region should withdraw from their facilities and urged nearby residents to stay away from industrial areas with US capital involvement to avoid potential attacks.

International gold prices hit a one-month high, US inflation is high, FED has not yet eliminated internal strife

Oct 26, 2021 11:03

On Thursday (October 14), the international gold price hit a new high of US$1,797.59 per ounce since September 15. The US consumer price index rose further in September. The Fed’s decision-makers still have differences in judging the threat of high inflation. The US dollar index and US bond yields The rate continues to fall.

At GMT+8 16:42, spot gold rose 0.14% to 1,795.51 US dollars per ounce; the main COMEX gold contract rose 0.10% to 1,796.5 US dollars per ounce; the U.S. dollar index fell 0.20% to 93.834.


The US consumer price index rose by 5.4% year-on-year in September, and may strengthen further amid soaring energy prices. This may force the Fed to act as quickly as possible to normalize monetary policy.

The minutes of the Fed’s September meeting show that the Fed may begin to reduce stimulus measures in mid-November. Although more and more policymakers worry that high inflation may last longer than expected, they still have differences on how quickly they need to raise interest rates to deal with high inflation.

U.S. President Biden urged the private sector on Wednesday to help alleviate congestion in the supply chain that could disrupt the holiday season in the United States, and said that the White House plans to inspect the blocked system nationwide.

White House officials said that Americans may face price increases due to supply chain issues, and there may be vacancies in store shelves this Christmas shopping season. White House spokesperson Psaki told reporters that Biden cannot guarantee that there will be no shortages during the holiday shopping season.

Goldman Sachs Chief Operating Officer John Waldron said in an online dialogue held by the International Finance Association (IIF) on Wednesday that he believes that inflation is the number one risk that may damage the global economy and stock markets. The short-term risks to economic recovery are still from the possible long-term risks to emerging markets."

Jeffrey Halley, senior market analyst for OANDA Asia Pacific, said: "I expect the U.S. dollar and long-term interest rates will resume their climb sooner or later, while the gold rally will begin to fade as soon as possible. The 100-day and 200-day moving averages are between $1795.00 and $1800.00. I believe that this area will become a huge obstacle to further increases in (gold prices)."

According to people familiar with the matter, in the face of rising energy costs worldwide, the White House has been discussing with US oil and gas producers in recent days how to help reduce rising fuel costs.

But industry insiders said that any call from the White House to increase production may fall on deaf ears. The industry is also dissatisfied with some of President Biden’s earlier actions, including a suspension of drilling on federal land.

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