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On April 30th, it was reported that the special campaign to address "AI-modified" videos, launched in January 2026, has yielded positive results, as per the work plan. To further consolidate these achievements, the campaign has been ongoing since February 1st through a regular and institutionalized long-term mechanism. The State Administration of Radio and Television has supervised major online audiovisual platforms to further deepen the implementation of their primary responsibilities, strengthen daily inspections, and focus on cleaning up illegal videos based on classic films and television works such as the Four Great Classical Novels, historical themes, revolutionary themes, and heroic figures that have been "AI-modified," while simultaneously cleaning up various cult animations, continuously creating a healthy online audiovisual ecosystem. Some key online audiovisual platforms have announced their handling results for April, reporting the removal of over 11,000 illegal videos and the handling of over 10 illegal accounts.On April 30th, Russian Deputy Prime Minister Novak stated that the UAEs decision to withdraw from OPEC will not trigger a price war because the conflict with Iran restricts oil-producing countries ability to release supply. The UAEs announcement this week of its withdrawal from OPEC has raised questions about the alliances future and its ability to manage oil prices through supply adjustments. Given that UAE officials have signaled increased production, there are concerns that its withdrawal could ultimately pave the way for a battle for market share. Novak said on Thursday, "Whats the point of talking about a price war when theres a shortage in the current market?" He stated that with the crucial Strait of Hormuz practically closed, "a large amount of oil is currently unable to enter the market, and demand is clearly higher than supply." Novak indicated that Russia and Saudi Arabia have not yet discussed the UAEs decision and reiterated that Russia has no intention of withdrawing from the OPEC+ alliance.Germanys seasonally adjusted unemployment figures and unemployment rate for April, as well as the preliminary value of the unadjusted annual GDP growth rate for the first quarter, will be released in ten minutes.Ukrainian President Zelenskyy: I have instructed my representatives to contact the US Presidents team to clarify the details of Russias proposal for a short-term ceasefire. Our proposal is for a long-term ceasefire, providing the people with reliable and guaranteed security, and lasting peace.April 30th - As the impact of the Iran war makes the transition more profitable, an increasing number of "clean tankers" that previously transported fuels such as diesel and gasoline are now converting to "dirty tankers" that transport crude oil. Data from the ship tracking platform Signal Ocean shows that 68 LR2 tankers have been converted to transport crude oil so far this year, compared to 49 for the whole of 2025. The LR2 is the largest type of vessel used for transporting refined petroleum products, with a capacity similar to Aframax tankers, one of the smallest crude oil carriers, with a maximum capacity of 800,000 barrels. This conversion trend began at the end of last year when increased demand for crude oil carriers, driven by rising demand for floating storage and consolidation in the tanker market, pushed up related freight rates. The impending closure of the Strait of Hormuz has further accelerated this trend. Georgios Sakellariou, a chartering analyst at Signal Maritime, stated that the collapse of crude oil production and refining capacity in the Persian Gulf region means that the main loading hubs for LR2 tankers are no longer usable. Signal data shows that approximately 296 LR2 tankers are currently transporting crude oil, accounting for two-thirds of the global fleet of this type, the highest proportion since 2019. The difference in time charter equivalent earnings between Aframax and LR2 is one of the main factors driving this transformation. As crude oil buyers scramble for cargo and major refiners cut exports, Aframaxs profitability relative to LR2 improved significantly in March.

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.

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