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On April 19th, the Victorian government announced that all public transport will be free in May, with fares halved for the remainder of the year. The measure will cost approximately AU$432 million (US$310 million). This move aims to increase support for consumers affected by high fuel prices, exacerbated by the Middle East wars leading to soaring fuel costs and a fire at one of Australias last two refineries, further fueling concerns about fuel supplies.The Iranian Martyrs Foundation reports that the war between the US, Israel, and Iran has resulted in the deaths of 3,468 Iranians.On April 19th, according to Hubei Daily, on April 16th, the V1000 passenger-type eVTOL (electric vertical takeoff and landing) prototype made its first public appearance after rolling off the assembly line at the Wuhan Xunqi Technology Co., Ltd. workshop in the Wuhan Economic and Technological Development Zone Low-Altitude Economy Industrial Park, attracting the attention of visitors. Reporters at the scene observed that the V1000 passenger-type aircrafts appearance is closer to that of a passenger plane, with windows and added seats. Xu Zhilin, chief engineer of the Wuhan Xunqi Technology project, said, "The V1000 passenger-type aircraft is expected to make its maiden flight in June this year. Currently, airworthiness certification work is underway, and it is expected to be officially launched to the market around 2030."On April 19th, Unitree Robotics officially announced that in the Beijing Humanoid Robot Marathon qualifying race on April 16th, Unitree H1 (23-year revised version) autonomously completed the 1.9-kilometer multi-curve course in 4 minutes and 13 seconds, breaking the human 1500-meter world record (calculated proportionally).US-Israel-Iran Conflict: ① Iran 1. Iran claims missile and drone production continues. 2. Irans Chief Justice: The enemy must pay war reparations. 3. Iran announces suspension of ticket sales; flights must be approved on a case-by-case basis. 4. Irans Civil Aviation Organization announces the reopening of some Iranian airspace. 5. Iranian Army Commander: The failure of the operation in Isfahan province was the main reason for the enemys ceasefire. 6. Irans First Vice President: Trumps remarks stem from his delusions and lies; there is no need to respond. 7. Satellite images show fires at two Iranian oil refineries, just days after multiple crude oil storage tanks at these refineries were damaged. 8. According to Iranian media Mizan: Iran will not open the Strait of Hormuz while the US blockade remains in place; Iran is reviewing recent US proposals. 9. According to Iranian media: Irans First Vice President stated that Iran is responsible for the management of the Strait of Hormuz. Either they (the US) give us rights at the negotiating table, or we will go to war. 10. Iran claims US-Israel attacks have killed 3,468 Iranians. 11. According to Irans Press TV: Iranian commanders claim to have shot down 170 US and Israeli drones during the war. ②US 1. US military: 21 ships have turned back to Iran as instructed by the US military. 2. US media: Trump convened a White House Situation Room meeting on the situation in the Strait of Hormuz and US-Iran negotiations, attended by the Vice President, Secretary of State, Secretary of Defense, Secretary of the Treasury, and other senior officials. 3. US Central Command: The guided-missile destroyer USS Pinckney (DDG 91) patrolled the area to support the blockade operation. This blockade has completely blocked maritime economic and trade activities in and out of Iran. 4. According to the New York Times: US intelligence assessments suggest that Iran still retains about 40% of its pre-war drone inventory and has dug underground missile cities during the ceasefire. It currently possesses about 60% of its missile launchers and possibly as much as 70% of its missile inventory. ③Israel 1. The Israeli military established a new "Yellow Line" in southern Lebanon, aiming to implement the "Gaza Model." ④Strait of Hormuz 1. Trump stated that there will be no tolls in the Strait of Hormuz. 2. Several ships attempted to pass through the Strait of Hormuz but ultimately turned back. 3. Maritime News: Iranian Revolutionary Guard opened fire on oil tankers attempting to cross the Strait of Hormuz. 4. US Central Command: Since the blockade began, 23 ships have turned back at the instruction of the US military. 5. Five Iranian oil tankers attempted to break through the US blockade by concealing navigation data. US destroyers forced three Iranian oil tankers to return and are pursuing two more. 6. Indian Government: The Indian Foreign Secretary expressed deep concern over the shooting incident involving two Indian-flagged vessels in the Strait of Hormuz earlier today. 7. According to Axios: A US Department of Defense official stated that the Iranian Islamic Revolutionary Guard has launched at least three attacks on merchant ships in the Strait of Hormuz since Saturday morning (local time). 8. Iranian Islamic Revolutionary Guard: The Strait of Hormuz has been blocked from the evening of the 18th until the US blockade is lifted. 9. Shipping in the Strait of Hormuz has come to a standstill again. ⑤ Ceasefire Negotiations 1. Islamabad traffic control escalates in preparation for US-Iran negotiations. 2. Iran is reviewing new US proposals and has not yet responded. 3. Iran stated it has not yet agreed to hold the next round of negotiations with the US. 4. Trump responded to the inconsistency in US and Iranian messages: because Iran also has people it needs to appease. 5. Advisor to Irans Supreme Leader: Internal unity and the resistance front cannot be used as bargaining chips. 6. Trump warned that if negotiations fail, he might acquire Irans uranium stockpile in a "more unfriendly way." 7. On the 17th, Trump stated regarding Iran that he had just received "some pretty good news, mainly that Iran will not possess nuclear weapons." 8. Trump: If an agreement cannot be reached with Iran by the 22nd, the ceasefire may not be extended. 9. Trump: The US and Iran are in dialogue, and there will be news before the end of today. Iran cannot blackmail us by closing the Strait again. 10. The Iranian Parliament Speaker stated that there is still a long way to go before reaching a final agreement with the US. ⑥ Other situations: 1. The Pakistani delegation concluded its visit to Iran. 2. UNIFIL was attacked in southern Lebanon, resulting in 1 death and 3 injuries. 3. The US announced sanctions against 7 commanders of Iraqi militia groups. 4. International Maritime Organization: Approximately 20,000 seafarers are stranded in the Persian Gulf. 5. Iraq claims oil exports from all oil fields will resume within days. 6. British Foreign Secretary urges full resumption of shipping in the Strait of Hormuz. 7. Hezbollah leader: Will respond to violations of the ceasefire agreement. 8. Israeli military says its attacks on militants in several Lebanese regions are "unrestricted by the ceasefire." 9. Hezbollah denies attacking UNIFIL soldiers in Lebanon. 10. Rosatom CEO: Rosatom is prepared to assist Iran in transporting enriched uranium. 11. IATA: Flight cancellations in Europe could begin as early as the end of next month; countries need to coordinate responses. 12. Élysée Palace: Macron, after speaking with the Lebanese president and prime minister, stated that the attack on UNIFIL soldiers in Lebanon is unacceptable. 13. Lloyds Ship Daily reports that the average price of ultra-low sulfur fuel oil (VLSFO) for marine propulsion has fallen to $856 per ton. The price is down 19% from the wartime peak in the Middle East, but is still 73% higher than the average price in January and February.

International gold prices still look at US$1,727

Oct 26, 2021 10:59

On Thursday (October 7), international gold prices continue to be under pressure, and the market outlook is still looking at $1,727. However, the weak upside of the U.S. index limited the decline in gold prices. Investors turned to wait and see before the US non-farm payrolls report was released, and it is expected that the report will provide clues to the Fed's reduction schedule.

At 14:20 GMT+8, spot gold fell 0.11% to US$1760.81 per ounce; the main COMEX gold contract fell 0.03% to US$1761.2 per ounce; the US dollar index fell 0.01% to 94.218.


Investors turned to the US non-agricultural employment data to be released on Friday (October 8), which is expected to show an improvement in the labor market, which is an important criterion for the Fed to begin to reduce support measures during the epidemic. Data released overnight showed that private employment in the United States increased strongly in September.

Bob Haberkorn, senior market strategist at RJO Futures, said: “Gold’s hedging appeal is not as attractive as other safe assets, and its performance largely depends on US non-agricultural employment data. Prior to this, the price of gold may be trending sideways.”

Fu Xiao, director of the Commodity Strategy Department of BOC International, said that even though the non-agricultural employment data is “not beautiful, but just in line with expectations,” some Fed members have believed that the conditions for reducing debt purchases have been met, which has put pressure on gold.

On the daily chart, the price of gold has started a three-wave downward trend from US$1770. The support below looks to the 23.6% target of US$1744 and the 38.2% target of US$1727. Wave 3 is a sub-wave of the downward (3) wave that started at $1834. (3) Wave is a sub-wave of the downward ((Y)) wave that started from 1917 USD. The ((Y)) wave belongs to the adjusted IV wave that started at $2,075.