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Gold
4427.95
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Real-time News
January 8th – At the Ministry of Commerces regular press conference this afternoon (January 8th), spokesperson He Yadong stated: We support Hong Kongs integration into and service of the overall national development strategy, its complementary advantages with Hainan, and its coordinated development, so that both can play a better role in the countrys high-level opening-up. Ministry of Commerce Spokesperson He Yadong: Hong Kong is an international financial, shipping, and trade center, possessing the unique advantages of being backed by the motherland and connected to the world. The country is unwavering in expanding high-level opening-up, and the Hainan Free Trade Port is a landmark measure in the countrys efforts to build a new open economic system. For Hong Kong, "One Country, Two Systems" is its greatest advantage, and the countrys reform and opening-up is its greatest stage. The more open the motherland is, the broader Hong Kongs development space will be. We will support Hong Kongs integration into and service of the overall national development strategy, its complementary advantages with Hainan, and its coordinated development, so that both can play a better role in the countrys high-level opening-up.On January 8th, Zhongmin Energy announced that in 2025, the companys various projects generated a total of 2.875 billion kWh of electricity, a decrease of 4.41% compared to 3.008 billion kWh in the same period of the previous year; the total on-grid electricity generated was 2.793 billion kWh, a decrease of 4.46% compared to 2.924 billion kWh in the same period of the previous year.On January 8th, it was reported that in 2025, the Certification and Accreditation Administration of the Peoples Republic of China (CNCA) conducted a "random inspection and public disclosure" of certification bodies. The inspection revealed that three laboratories—Shenzhen Global Testing Service Co., Ltd., Fangyuan Testing and Certification Group Co., Ltd., and Wuhan Product Quality Supervision and Inspection Institute (National Wire and Cable Product Quality Inspection and Testing Center (Wuhan))—no longer met the designated testing conditions for Compulsory Product Certification (CCC) in certain areas. In accordance with the "Administrative Measures for Compulsory Product Certification Bodies and Laboratories," it was decided to revoke and suspend the CCC-designated testing business qualifications of the aforementioned laboratories in certain areas, effective immediately.On January 8th, it was reported that Thailands largest gold trader plans to promote dollar-denominated trading in an effort to reduce golds influence on the local currency. Krikarat Hirunasiri, Chairman of MTS Gold Group, stated that a group of 14 gold traders will upgrade their online trading systems to support dollar trading within three to six months. This move aims to encourage more Thais to buy and sell gold in US dollars. This comes after the government threatened to impose a special tax to curb speculative trading, an action that pushed the baht to its highest level since 2021. Daily gold trading volume in Thailand sometimes rivals that of the local stock market, prompting traders to use unusually large amounts of US dollars. According to the Bank of Thailand, during peak trading periods, gold-related transactions account for 50% to 60% of total dollar trading volume in Thailand. Krikarat anticipates that the countrys top three gold traders (representing approximately 90% of the market share) will complete their system upgrades to support dollar trading within three months.January 8th - Following Maduros arrest last weekend, the Trump administration plans to sell heavy, high-sulfur, and corrosive crude oil from Venezuela in the United States. Refineries along the U.S. Gulf Coast, from Corpus Christi, Texas to Pascagoula, Mississippi, are ideally equipped to process this type of crude. According to data from the U.S. Energy Information Administration (EIA), the combined potential processing capacity of 21 major refineries along the coast exceeds 7 million barrels per day. Texas is the core region, concentrating the largest capacity. Motivas Port Arthur refinery tops the list with a capacity of 640,500 barrels per day. Since the 1990s, refiners have been upgrading their plants, increasing coking capacity and upgrading steel to cope with the increasing volume of heavy, high-sulfur crude oil from Venezuela, Mexico, and Ecuador. Venezuelas state-owned oil company PDVSA has purchased two U.S. refineries and has partnered with ExxonMobil and LyondellBasell on two other refineries. However, in the early 21st century, as Latin American crude oil production declined, refineries in the U.S. Midwest that had previously received Venezuelan crude oil switched to using heavy crude oil from Canadian oil fields.
