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The Reserve Bank of India kept its benchmark interest rate unchanged at 5.25%, in line with market expectations.February 6th - Hong Kong stocks opened lower this morning but rebounded after fluctuating throughout the morning session. At midday close, the Hang Seng Index fell 1.13%, and the Hang Seng Tech Index fell 0.47%. Tea beverage stocks led the gains, with Chabaidao (02555.HK), Gu Ming (01364.HK), and Shanghai Auntie (02589.HK) all rising over 3%. Battery concept stocks fluctuated higher, with Ganfeng Lithium (01772.HK) and CATL (03750.HK) both rising over 2%. New energy vehicle stocks strengthened, with NIO-SW (09866.HK) rising over 7% and Li Auto (02015.HK) rising over 5%. Biopharmaceutical concept stocks continued their upward trend, with Innovent Biologics (09969.HK) rising over 11%. In addition, optical communications, power equipment, commercial aerospace, robotics, wind power, and chip concepts also strengthened in the morning session. Leading tech stocks declined, with Alibaba (09988.HK), JD.com (09618.HK), and NetEase-S (09999.HK) all falling by more than 2%. In addition, stocks related to Chinese securities firms, photovoltaic solar energy, non-ferrous metals, and home appliances also weakened. In terms of individual stocks, Meituan (03690.HK) closed down 1.92% in the morning session, following its proposed acquisition of Dingdong for US$717 million; Zhipu (02513.HK) continued its downward trend, falling by more than 6%; and MINIMAX-WP (00100.HK) fell by more than 4%.According to Futures News on February 6, the holdings of the worlds largest silver ETF, iShares Silver Trust, decreased by 122.6 tons from the previous day, with the current holdings at 16,247.45 tons.On February 6th, Aier Eye Hospital issued an announcement clarifying that some media reports regarding suspected irregularities at a psychiatric hospital have directly linked Xiangyang Hengtaikang Hospital Co., Ltd. to Aier Eye Hospital. The company states: Xiangyang Hengtaikang is not a subsidiary of Aier Eye Hospital. It is a fourth-tier subsidiary jointly established by Aier Medical Investment Group Co., Ltd. and other investors. Xiangyang Hengtaikang is operated by its hospital management team. Aier Medical Investment does not participate in the daily operations and management of Xiangyang Hengtaikang. Aier Eye Hospital has no equity control, business affiliation, or management relationship with Hunan Hengtaikang Rehabilitation Medical Industry Development Co., Ltd. and its subsidiaries.According to Futures News on February 6, the holdings of the worlds largest gold ETF, SPDR Gold Trust, decreased by 4 tons from the previous day, with the current holdings at 1077.95 tons.

Gold, Silver, Copper – Precious Metals Pull Back As Dollar Rebounds

Skylar Shaw

Jan 17, 2023 15:59

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Gold

Gold tried to hold above the $1930 resistance level but lost momentum and retreated around $1915. As the U.S. dollar recovered from multi-month lows, the gold markets were negatively impacted. The likelihood of a downturn is high since the RSI is still in overbought territory.

Silver

The $24.00 - $24.50 resistance level was challenged by silver, but it was unable to get enough upward momentum. Since late December, silver has been trading close to this resistance zone. Silver may challenge the psychologically significant $25.00 mark rapidly if it is able to stabilize above $24.50.

Copper

In today's trading session, copper is falling as investors take gains after the previous surge. The present decline is technical since traders are likely to continue paying attention to China's reopening, which is expected to increase demand for copper.