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On August 24, Foreign Ministry Spokesperson Lin Jian held a regular press conference. According to media reports, regarding the meeting between Chinese Vice Foreign Minister Miao Deyu and Iranian Deputy Foreign Minister Gharibabadi in Beijing, could the Foreign Ministry provide details? Considering the economic ties between China and Iran, what is Chinas view on the US plan to isolate Iran? Lin Jian stated that China provided details of the meeting in its press release, which you can refer to; I have nothing further to add. China closely monitors the situation in the Middle East Gulf, actively promotes peace talks, and is willing to uphold the spirit of President Xi Jinpings four-point proposal on maintaining and promoting peace and stability in the Middle East, continuing its efforts to restore peace and tranquility to the region as soon as possible. "Regarding your second question, we have previously addressed this," Lin Jian said.Russian authorities say a Ukrainian drone strike in Russia’s Belgorod region has killed two people and injured two others.On August 24, Foreign Ministry Spokesperson Lin Jian held a regular press conference. US Treasury Secretary Bessenter threatened to impose secondary sanctions on countries trading with Iran. China is a major buyer of Iranian oil. If the US implements secondary sanctions, what will Chinas response be? Lin Jian stated that sanctions and pressure will not help resolve the issue; they will only exacerbate tensions and escalate the situation, which is not in the interest of any party. Lin Jian said that China calls on all parties to exercise rationality and restraint, avoid taking measures that could further intensify conflicts and impact global economic development and financial stability, and return to the correct track of dialogue, negotiation, and political settlement as soon as possible. China will closely monitor relevant developments and take necessary measures to safeguard its legitimate rights and interests.Iranian Foreign Ministry spokesman: Ghalibafs trip to Iraq is very important.Iranian Foreign Ministry spokesman: Iran will decide the fate of the Iranian pilot detained in Qatar. Efforts are underway to secure the immediate release of the four detained Kuwaiti citizens.

Predictions for the Silver Market: A Turbulent Time Ahead

Alina Haynes

Jul 22, 2022 14:58

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Silver fell during Thursday's trading session, but it recovered after the European Central Bank raised interest rates, which placed downward pressure on the US dollar. I believe it is only a matter of time until sellers re-enter the market and force this commodity lower since this is a market that continues to witness a lot of noisy activity. However, there are many grounds to believe that silver's value will decline below that of the dollar.

 

Silver's demand is expected to remain weak due to low consumer demand. At this point, I believe it is best to "fade the rise," since it will likely be just a matter of time until sellers re-enter the market. We're probably going to break up soon, and the $20 level above should provide a lot of resistance on the way up.

 

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It's conceivable that sellers will enter the market even if we break over the $20 level, and then the 50 Day EMA will come into play. The 50-day moving average (MA) is currently at $20.73, and it's falling. In the end, I believe that many individuals will rush into this market as soon as it shows indications of tiredness. If the price drops below the hammer's base, it would be reasonable to assume that the $15 support level will be quickly breached.


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