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The yield on 20-year Japanese government bonds rose to 2.655%, the highest level since November 1999.On August 21, the Wall Street Journal, citing people familiar with the matter, reported that after spending several months recruiting more than 50 artificial intelligence researchers and engineers, Meta Platforms (META.O) has frozen hiring in its artificial intelligence department. The hiring freeze, which took effect last week while the department is undergoing a broader restructuring, also prohibits existing employees from moving across teams within the department. The duration of the hiring freeze has not been communicated internally. People familiar with the matter said there may be exceptions for external recruitment, but this requires the approval of Metas Chief Artificial Intelligence Officer, Alexandr Wang. A Meta spokesperson confirmed the hiring freeze and said it was "basic organizational planning: to create a solid structure for our new super-intelligence project and conduct annual budgeting and planning work after the staff is in place."The Hang Seng Index in Hong Kong opened up 50.48 points, or 0.2%, at 25,216.42 points on August 21 (Thursday); the Hang Seng Tech Index opened down 1.62 points, or 0.03%, at 5,539.65 points on August 21 (Thursday); the CSI 300 Index opened up 8.74 points, or 0.1%, at 9,022.01 points on August 21 (Thursday); the H-share Index opened up 15.85 points, or 0.36%, at 4,361.53 points on August 21 (Thursday).Hang Seng Index futures opened up 0.26% at 25,190 points, 26 points higher than the previous session.Meta Platforms (META.O) has frozen hiring at its new superintelligence unit, sources said.

Silver Price Analysis: Near 50 DMA, XAG/USD rises to mid-$23.00s

Alina Haynes

Feb 03, 2023 15:21

Silver attracted buyers around its 50-day simple moving average (SMA) on Friday, halting its previous day's regression from its highest level since April 2022. In the early European session, the precious metal maintains a moderately bullish tone, although the intraday increase lacks bullish confidence.

 

The XAG/USD has formed a rectangle pattern on the daily chart during the previous half-month, bouncing in a typical range. This indicates traders' hesitation and calls for care before putting aggressive direction bets. The inability to gain acceptance above the $24.50 supply zone overnight validates the trading range resistance, which should now serve as a pivot point.

 

Given that technical indications on the daily chart have only recently begun to drift into negative territory, it would be smart to await a sustained advance beyond the aforementioned barrier before putting bullish wagers. The XAG/USD pair might then attempt to recapture the $25.00 psychological level for the first time since April 2022. On the way to $26.00, the momentum could be extended towards the next significant obstacle near the $25.35 region.

 

Conversely, any further decline below the horizontal zone between $23.40 and $23.30 may continue to find support around the $23.00 to $22.95 region. This is followed by support in the $22.75 range, which, if forcefully broken, could pull the XAG/USD to the next key support near the $22.20-$22.15 zone before the $22.00 level.


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