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On August 17, Iranian Foreign Ministry spokesman Baghae stated that the environmental damage caused by the continued US military presence in the region has resulted in trillions of dollars in losses, and Iran will prioritize seeking compensation for these losses. Baghae claimed that the environmental damage caused by the US in the Persian Gulf and the Gulf of Oman is not limited to the past six months or year, but has continued for approximately 50 years. The US military presence, accompanied by the use of advanced weaponry, numerous military exercises, and various wars waged in the region, has caused enormous environmental damage, resulting in trillions of dollars in losses. Baghae stated that this damage has been further exacerbated in the past two years due to the attacks on various facilities along the Persian Gulf coast by the US and Israel, as well as the consequences of their military presence. Iran will definitely prioritize seeking compensation for these damages.On August 17th, Geely Automobile (00175.HK) announced that Li Shufu will resign as Chairman of the Board and Executive Director of Geely Automobile Holdings Limited, effective August 18, 2026. In recognition of his outstanding contributions to the companys development over the years, he has been appointed as Honorary Chairman for Life. As a major and controlling shareholder, he will continue to fully support the companys long-term development. Li Shufu will continue to serve as Chairman of Zhejiang Geely Holding Group. An Conghui has been appointed Chairman of the Board of Directors of Geely Automobile Holdings Limited. Li Donghui has resigned as Vice Chairman of the Board of Directors of Geely Automobile Holdings Limited but will continue to serve as an Executive Director. Gui Shengyue has resigned as CEO of Geely Automobile Holdings Limited but has been appointed as Vice Chairman of the Board of Directors and will continue to serve as an Executive Director, in order to improve the efficiency of communication and coordination between the Board and management. Gan Jiayue has been appointed CEO of Geely Automobile Holdings Limited, responsible for the companys daily operations.According to Hong Kong Stock Exchange filings, HSBC Holdings (00005.HK) spent HK$19.9 million to repurchase 1.3 million shares on August 14.Iranian Foreign Ministry spokesman Baghae: Fundamentally, the problem between us and the United States is not about mediation; the problem lies in the American way of thinking, its misjudgments, and its clinging to methods and means that have been proven to fail countless times, while the US administration continues to repeat the same mistakes. The result will inevitably be no different from the past.Iranian Foreign Ministry spokesman Bagaei: Admitting mistakes can be a prerequisite for making the right decisions, but I doubt whether US policymakers have that courage.

Silver Price Forecast: Price Volatility as Treasury Yields Rise

Jun 07, 2022 14:43

The price of silver attempted to break out, but again encountered selling resistance. The decline in gold prices weighed on the broader precious metals market. The Fed's quiet period has begun in advance of the FOMC's mid-month meeting.

 

The benchmark rates continued to rise, with the 10-year yield ending over 3%.

 

Prior to the Fed FOMC meeting, there is a period known as the quiet period, during which members refrain from commenting on Fed policy.

 

Prior to their June 14-15 monetary policy meeting, Fed policymakers have entered a period of silence. Last week, yields continued to climb as a result of a robust employment report. The Fed Funds futures contract for the end of the year is currently pricing in rates of 2.70 percent, implying another 100 basis points of tightening over the next two meetings.

Technical Evaluation

The price of silver sought to climb higher but was unable to do so. Near the 10-day moving average of 21.99 is viewed as support. At the 50-day moving average of 23.18, there is observed to be resistance.

 

The 50-day moving average continues below the 200-day moving average, representing a headwind for XAG/USD and indicating negative trend. Silver will likely reach the level of 20.4.

 

The medium-term momentum turns positive when the histogram and MACD both show positive values (moving average convergence divergence). The MACD histogram is moving in negative area, indicating a downward trend in price movement.

 

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