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On January 7th, eight departments, including the Ministry of Industry and Information Technology, issued the "Implementation Opinions on the Special Action for Artificial Intelligence + Manufacturing," which mentions accelerating the upgrading of intelligent terminals. It supports breakthroughs in technologies such as edge models and application toolchains, and cultivates AI terminals such as smartphones, computers, tablets, and smart home devices. Focusing on key scenarios such as industrial inspection and telemedicine, it accelerates the industrialization and commercialization of new terminals such as augmented reality/virtual reality (AR/VR) wearable devices and brain-computer interfaces. It promotes innovation in embodied intelligent products, builds pilot-scale production bases and training grounds for humanoid robots, creates benchmark production lines for humanoid robots, and prioritizes their application in typical manufacturing scenarios.Direct Purchase of Greenland: 1. Underlying Strategy: This approach is similar to a "real estate transaction," emphasizing offering economic benefits in exchange for a change in sovereignty. Its advantage is avoiding direct conflict. 2. Relevant Circumstances: US officials discussed negotiating the purchase price and agreement with Denmark, but both Denmark and Greenland firmly refused to sell. Public Opinion Campaign to Promote Greenlands Independence: 1. Underlying Strategy: By creating public opinion that "independence is more beneficial than harmful," the US aims to guide Greenland to hold an independence referendum. Once independent, the agreement can be signed directly, bypassing Denmark. 2. Relevant Circumstances: ① Shortly after taking office, the Trump administration began publicly strengthening its support for Greenlands "independence." ② Danish media revealed that US figures closely associated with Trump had been conducting covert influence operations in Greenland. ③ Trump established the position of Special Envoy for Greenland Affairs, and the new envoy publicly declared that the goal was "to make Greenland part of the United States." Signing a Compact of Free Association (COFA) with Greenland: 1. Underlying Strategy: The US can take over Greenlands defense, security, and some diplomatic and economic affairs without directly changing Greenlands sovereignty. 2. Relevant Circumstances: The US has signed similar agreements with other Pacific island nations, providing precedent for reference. This scenario could be considered a "soft landing," offering the US a strategic advantage while avoiding a forced takeover. Trading Ukraine for Greenland: 1. Underlying Strategy: To gain concessions from Europe on the Greenland issue in exchange for a clearer US security commitment to Ukraine. 2. Relevant Circumstances: As an ally of Denmark, Europe is unlikely to easily accept Greenlands secession. However, with the progress of Russia-Ukraine peace negotiations, Ukraine is demanding long-term, credible security guarantees from the US. An EU diplomat envisioned this "security for security" deal. Military Takeover of Greenland: 1. Underlying Strategy: While extreme, military takeover is not difficult. The US might adopt a "fait accompli" strategy: directly sending troops to land and declaring the island American. 2. Relevant Circumstances: Danish researchers point out that if the US military were to act, it could control Nuk within half an hour. Danish politicians bluntly stated: "It might only require five helicopters...no need for a large number of troops at all. The Greenlanders have almost no ability to resist."On January 7th, eight departments, including the Ministry of Industry and Information Technology, issued the "Implementation Opinions on the Special Action of Artificial Intelligence + Manufacturing," which mentions carrying out the "Model-Data Resonance" action. This includes promoting the establishment of a Chief Data Officer system for enterprises, continuously advancing the implementation of national standards for data management capability maturity, and strengthening the foundation of enterprise data governance. It also involves compiling a list of data resources suitable for industry model needs, releasing guidelines for building high-quality datasets in the manufacturing industry, and making good use of platforms such as the Manufacturing Digital Transformation Promotion Center to promote the transformation of basic data into high-quality industry datasets, achieving "data driven by models." Furthermore, it guides enterprises to strengthen their data engineering capabilities, promotes the deep integration of enterprise data development and model building, and explores the establishment of an integrated mechanism for "data collaboration, model training, application development, and security assurance," achieving "data empowering models."The Eurozones core CPI rose 0.2% month-on-month in December, compared with a previous reading of -0.4%.On January 7th, eight departments, including the Ministry of Industry and Information Technology, issued the "Implementation Opinions on the Special Action for Artificial Intelligence + Manufacturing," which mentions the development of high-level industry models. It supports innovation in model training and inference methods, developing high-performance algorithm models adapted to the real-time, reliability, and security characteristics of the manufacturing industry. It cultivates large-scale models for key industries, develops a "cloud-edge-device" model system, and continuously improves generalization capabilities. It also promotes the creation of small models for specific industrial scenarios, encouraging collaborative innovation between large and small models. Furthermore, it promotes lightweight model deployment and accelerates their application in industrial scenarios. Finally, it establishes a public service platform for models, providing high-level models and supporting tools.

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

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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.