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On August 30th, according to multiple foreign media reports, a recent research report on the AI industry released by Barclays Bank in the UK pointed out that for every $100 in revenue earned by AI model companies, approximately $35 to $40 flows to the three major cloud giants—Amazon Web Services (AWS), Microsofts Azure cloud service platform, and Google Cloud Platform (GCP)—in the form of inference computing power fees. Cloud service providers can obtain approximately $10 to $20 in operating profit from this, corresponding to an operating profit margin as high as 35% to 45%. Meanwhile, the profit margin of AI labs paid inference business has risen significantly, from a low double-digit level in 2025 to 50% to 65% or even higher in 2026, with adjusted gross margins increasing by 30 to 50 percentage points year-on-year. Barclays analysts believe that the actual profit margin may be higher than the reports estimates, but as competition in cutting-edge models intensifies and computing power supply continues to increase, profit margins are expected to gradually decline.NASA’s next-generation flagship space observation platform, the Nancy Grace Roman Space Telescope, was launched from Florida aboard a SpaceX Falcon Heavy rocket.On August 30, a ferry carrying approximately 270 passengers capsized in Cyprus. The extent of casualties is currently unknown.August 30 - The Lebanese National News Agency reported that Israeli forces dropped flares over the Aita Jbeil forest in the Bint Jbeil region of southern Lebanon this morning, causing a fire.Market news: A passenger ship carrying approximately 270 people sank off the coast of northern Cyprus, and search and rescue operations are underway.

Before the US PMI is released, the gold price is expected to rise beyond $1,740 per ounce

Daniel Rogers

Aug 23, 2022 14:48

 截屏2022-08-22 下午5.31.01_1024x576.png

 

On the back of conflicting forecasts for US Purchasing Managers Index (PMI) data, the gold price (XAU/USD) is trying to break above $1,740.00. A new monthly low of $1,727.85 was recorded for the precious metal on Monday, but it has since rallied strongly. Given the lack of impetus in the upward trend, the gold price is likely to stay volatile. However, a pullback may be less profitable.

 

The consensus for the S&P Global Manufacturing PMI is 51.5, which is down from the prior reading of 52.2. When compared to its previous reading of 47.3, the Services PMI has room to grow.

 

The yellow metal has been supported by the disappointing early estimates of US Durable Goods Orders. From a previous release of 2%, the market expects the economic figures to sharply decrease to 0.5%. It's important to note that the most recent reading showed no change in underlying pricing pressures, which stood at 5.9%. So, we expect to see little change, if any, in the Durable Goods Orders numbers. Unfortunately, a precipitous drop in economic statistics portends a precipitous drop in demand.

 

The other thing that will be in the spotlight is Federal Reserve (Fed) chair Jerome Powell's remarks from the Jackson Hole Economic Symposium. US economic conditions and Fed Powell's direction on inflationary pressures and interest rates will be determined by him.

 

Gold prices on an hourly scale are looking to continue their recovery after breaking above the $1,729.44 61.8% Fibonacci retracement (set from the low of $1,680.91 on July 21 to the high of $1,807.93 on August 10). Gold has been testing the resistance of the 20-period Exponential Moving Average (EMA) around $1,738.00; a sustained move above this level would signal a change in trend toward the bullish side.

 

Furthermore, the Relative Strength Index (14), which had been negative in the 20.00-40.00 range, has moved into the bullish 40.00-60.00 zone, indicating that gold prices are currently not bearish.

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