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U.S. sources say that U.S. Marines opened fire on protesters at the U.S. consulate in Karachi, Pakistan, last Sunday.Futures analyst Guangda Futures reports: On March 2nd, COMEX gold opened higher and trended upwards, before a sharp sell-off at the close, ending slightly higher at $5335.9 per ounce, a gain of 1.68%. Domestic SHFE gold opened higher but then fell in the night session, closing at 1184.90 yuan per gram, a gain of 1.14%. 1. Data released by the Institute for Supply Management (ISM) on Monday showed that the US ISM Manufacturing PMI fell slightly to 52.4 in February, expanding for the second consecutive month, but the input price index surged to 70.5, a near four-year high. Its worth noting that this data reflects market conditions prior to the US-Israeli airstrikes on Iran this weekend. Afterwards, tanker traffic in the Strait of Hormuz nearly ceased, and international oil prices recorded their largest single-day increase since the Russia-Ukraine war in early 2022 on Monday, meaning that price pressure may continue to rise. Given that tariffs and geopolitical conflicts are creating a persistent undercurrent of inflation, manufacturers may be forced to pass on costs to consumers, squeezing the Federal Reserves room for interest rate cuts. Last night, the US dollar index rose by more than 1%, and precious metals rose and then fell back. 2. Geopolitically, the US-Iran conflict escalated rapidly over the weekend. The joint US-Israel assassination attempt plunged Iran into regime chaos, unexpectedly reigniting geopolitical risks and initially reflecting some safe-haven demand. However, as the conflict progressed, the market gradually withdrew from this safe-haven panic, shifting towards concerns about the closure of the Strait of Hormuz, a rebound in oil prices due to disruptions in oil production facilities, and renewed expectations of global inflation. This had a mixed impact on gold. Inflation expectations are generally favorable for gold prices, but the expectation of a Fed rate cut and further easing has been further delayed. Investors should continue to closely monitor the US-Iran situation. Whether the conflict slows down or escalates further will determine the subsequent trend of gold prices. Strategically, timing is more important than directional choice; avoid chasing highs excessively. (This content and opinion are for reference only and do not constitute any investment advice.)Japans energy minister stated that the suspension of Qatars liquefied natural gas (LNG) operations will not immediately affect the countrys energy supply.The main Shanghai silver futures contract plunged in the short term, falling more than 4.00% intraday, and is currently trading at 22,888.00 yuan/kg.March 3 - Oil prices rose in early Asian trading due to the ongoing Middle East conflict and the persistent high risk of supply disruptions. Kerstin Hottner, head of commodities at Vontobel, stated, "The ongoing military conflict between the US/Israel and Iran has caused turmoil in the global energy market. The Strait of Hormuz, a crucial chokepoint for global energy trade, has effectively ceased operation due to the conflict. As the situation develops, the duration and intensity of the conflict will be key factors shaping the energy landscape in the short term."

Crypto Assets Shed $800 Billion in Market Value in A Month

Skylar Shaw

May 11, 2022 10:34

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According to statistics site CoinMarketCap, crypto assets have lost about $800 billion in market value in the last month, reaching a low of $1.4 trillion on Tuesday, as the end of free monetary policy dampens desire for risk assets.


Bitcoin, which accounts for roughly 40% of the cryptocurrency market, fell to a 10-month low on Tuesday before rebounding to $31,450, only six days after hitting $40,000. It was down more than 54% from its all-time high of $69,000 on November 10th.


Prices of digital assets have fallen, reflecting a drop in stocks on worries of aggressive interest rate rises throughout the world to combat decades-high inflation. The Nasdaq, which is heavily weighted in technology, was down 28% from its all-time high in November 2021.


According to CoinMarketCap, the total crypto market worth was $2.2 trillion on April 2, down from an all-time high of $2.9 trillion in early November.


"Bitcoin remains closely tied to larger economic circumstances, implying that the road ahead may regrettably be bumpy, at least for the time being," stated blockchain data firm Glassnode in a note.


Investors were also alarmed by signs of weakness in stablecoins, which are normally a safer crypto currency. TerraUSD, the fourth-largest stablecoin in the world, lost a third of its value on Tuesday after losing its dollar peg.


According to a study issued on Monday by digital asset management Coinshares, despite bitcoin's price drop, funds and products related to it saw inflows of $45 million last week as investors took advantage of market weakness.


"An enormous amount of liquidity has inflated some of these cryptocurrencies," said Nordea Asset Management's senior macro analyst, Sebastien Galy. As various central banks tighten their monetary policies, he expects crypto, which is also tied to high-growth equities, will face pressure.

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