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On August 13th, it was reported that Zhenbao Technology, a listed company in Chinas semiconductor component sector, has invested in and will construct a semiconductor component R&D and production base in Optics Valley. The project has a total investment of 520 million yuan and a construction period of three years. The base will focus on three core product categories: silicon carbide components, high-purity silicon precision components, and aluminum nitride ceramic materials and related components. These are essential consumables for front-end manufacturing processes such as chip etching and thin-film deposition. Once operational, the base will rapidly expand the companys existing production capacity, providing convenient services to wafer manufacturing companies in Central China and shortening delivery cycles.On August 13, according to a report by The Times of Israel on the 12th, a US State Department official criticized Israeli Defense Minister Katz, pointing out that his remarks about "preparing for a long-term occupation of southern Lebanon" contradicted previous commitments made by the Israeli government. Katz reportedly claimed earlier on the 12th in southern Lebanon that "Israeli forces will remain in the security zone of Lebanon, Syria, and Gaza to defend Israel." He also stated that he had instructed the Israeli military to take all necessary measures to prepare for a long-term presence in the region. A US State Department official stated, "The United States expects all parties to act in accordance with the framework agreements they have agreed to, and Israel has made it clear that it has no territorial ambitions in Lebanon. Maintaining a permanent military presence in southern Lebanon is neither in line with the commitments made in that framework agreement nor conducive to long-term peace and security between the two countries." The official emphasized that the United States "fully supports Lebanons territorial integrity and sovereignty."August 13 - According to Russias TASS news agency today (August 13), Russian President Vladimir Putin visited Iturup Island, one of the four islands in the Southern Kuril Islands (known as the "Northern Territories" in Japan). One of the main obstacles preventing Russia and Japan from concluding a peace treaty is the dispute over the ownership of the Southern Kuril Islands.Iraqi Prime Minister: We will never tolerate any party violating our airspace or threatening national security.August 13th - According to foreign media reports, South Korea has raised the ceiling on household debt growth and pledged to increase housing supply in the Seoul metropolitan area, further intensifying efforts to curb the continued rise in the real estate market. Soaring housing prices have gradually become a political burden for President Lee Jae-myung. According to a joint statement released by the South Korean government on Thursday, the government plans to supply more than 230,000 housing units in the Seoul metropolitan area, including 100,000 units to be built in newly designated areas. This is a further increase on top of existing targets. Previously, the South Korean government had set a target to start construction on 1.35 million housing units in the Seoul metropolitan area between 2026 and 2030. The latest measures are a further step up from the supply-side policies announced last September. At that time, a prolonged slump in the construction industry raised concerns that a shortage of new housing supply would continue to drive up housing prices and make it more difficult for young families to afford a home.

Silver Prices Stabilized Due to Concerns Over Ukraine's Counter-hawkish Fed Policy

Larissa Barlow

Apr 08, 2022 10:23

Tips

  • Despite mounting inflation concerns, silver prices remained stable.

  • The dollar strengthens upon the publication of the Federal Reserve's minutes.

  • Benchmark yields decreased following a week-long surge.

  • Oil prices are falling as the US and EIA pledge to release critical stockpiles.

 

Silver prices remained unchanged as mounting inflation fears fueled demand for the safe-haven metal. Benchmark rates fell today on the Fed's announcement of aggressive policy tightening. The 10-year yield reaches its highest level since March 2019 of 2.67 percent. Gold and silver prices climbed as fears of escalating inflation fueled demand for safe-haven assets. The inflation scenario contradicts the Fed's instructions to raise interest rates. Oil prices fell as EIA member states announced plans to release additional strategic reserves. This is the largest release since the stockpile was established in 1980. Analysts disagree on the extent to which the release of supply will affect market tightness.

 

For the latest week, jobless claims decreased by 5,000 to 166,000. This figure, which is the lowest since 1968, indicates the extent to which the job market tightened last week. Dow Jones estimated the figure at 200,000. The job market has been experiencing a significant scarcity of workers. Increased demand for labor has resulted in rising wages and soaring inflation.

Technical Evaluation

Silver prices remained relatively stable near the 24.6 level, as the recent sanctions against Russia continue to underpin XAG/USD. Silver, on the other hand, may suffer downward pressure to the $24.00 mark as yields rise and the dollar strengthens. Bulls may target silver in order to break through the $25 level and maintain momentum. Near the horizontal trendline near 23.6, there is support. Near the $26.00 level, resistance is located. Short-term momentum shifted negative as the fast stochastic crossed below the zero line, signaling a sell signal.

 

The medium-term momentum is positive, as indicated by the histogram's positive correlation with the MACD (moving average convergence divergence). The MACD histogram's trajectory is positive but decelerating, indicating a negative trend in price movement.

 

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