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The Hang Seng Tech Index fell by more than 3%, with NIO (09866.HK) falling by more than 6% and XPeng Group (09868.HK) falling by more than 5%.The Hang Seng Index fell by more than 2%, and the Hang Seng Tech Index fell by 2.8%.Most Hong Kong-listed mobile game stocks fell, with Kingsoft (03888.HK) and Bilibili (09626.HK) down more than 4%, Tencent Holdings (00700.HK) down more than 3%, and CMGE (00302.HK) down more than 2%.On March 30, the Kuomintang (KMT) Chairmans Office stated that the Central Committee of the Communist Party of China (CPC) and General Secretary Xi Jinping invited Chairperson Cheng Li-wen to lead a delegation to visit the mainland. Chairperson Cheng expressed her gratitude and gladly accepted the invitation. She expressed hope that both parties would work together to promote the peaceful development of cross-strait relations, enhance cross-strait exchanges and cooperation, seek peace in the Taiwan Strait, and improve the well-being of the people.On March 30, Song Tao, Director of the Taiwan Affairs Office of the Central Committee of the Communist Party of China, stated that since taking office, Kuomintang (KMT) Chairperson Cheng Li-wen has repeatedly expressed her desire to visit the mainland. To promote the peaceful development of relations between the KMT and the Communist Party of China (CPC) and across the Taiwan Strait, Song Tao, authorized by the CPC Central Committee, announced that the CPC Central Committee and General Secretary Xi Jinping welcome and invite Chairperson Cheng Li-wen to lead a KMT delegation to visit Jiangsu, Shanghai, and Beijing from April 7 to 12. Song Tao stated that they will communicate with the KMT regarding Chairperson Cheng Li-wens visit and make appropriate arrangements.

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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