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On June 17, 2026, the State Council Information Office held a press conference on the white paper "Building a More Just and Reasonable Global Governance System: Chinas Concepts, Initiatives and Actions." Zhou Haibing, Vice Chairman of the National Development and Reform Commission, stated at the conference that artificial intelligence (AI) governance is crucial to the fate of all humanity and is a common challenge facing all countries. China, upholding multilateralism and the principles of openness and inclusiveness, actively promotes global governance and international cooperation in AI, continuously contributing Chinese solutions to global development in the intelligent era. Zhou Haibing stated that in the next step, China will adhere to the principle of balancing development and security, actively practice multilateralism, uphold the concept of "people-centered and AI for good," and promote the development of AI in a beneficial, safe, and equitable direction. At the same time, China will fulfill its responsibilities as a major power, manage risks, strengthen prevention, explore cooperation in AI regulatory oversight, and jointly prevent AI security risks.According to the official measurement of the China Earthquake Networks Center, a 3.2-magnitude earthquake occurred at 11:25 on June 17 in Haixi Prefecture, Qinghai Province (37.84 degrees north latitude, 95.53 degrees east longitude), with a focal depth of 10 kilometers.Australian mining company Orica: is increasing its investment in copper and gold.On June 17, Wu Qing, Chairman of the China Securities Regulatory Commission (CSRC), stated that the CSRC will continue to deepen the reforms of the ChiNext and Innovation Boards, implement the strategic deployment for developing future industries, and support the listing of more "hard technology" companies in fields such as quantum technology, biomanufacturing, and androids. At the same time, the CSRC will orderly promote the deepening of reforms on the ChiNext board, increase support for new consumption and modern service industries, and better serve the development of growth-oriented innovative and entrepreneurial enterprises.June 17th - Yadea Technology Group and Cainiao Network have recently reached a digital cooperation agreement, and the two parties held a launch meeting for the parts supply and sales platform project. In this cooperation, Cainiao will assist Yadea in building a "flexible supply chain system."

Forecast for Silver Price: XAG/USD is rising quickly and is approaching the $20.00 mark

Alina Haynes

Sep 15, 2022 11:43

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Silver price recovers around the 50-day exponential moving average and advances towards a daily high of $19.69 on Wednesday after the US Labor Department reported that August PPI was in line with predictions of diminishing inflationary pressures on the producer side. Therefore, the XAG/USD is trading at $19.61, 1.86% higher than its initial price.

 

Before Wall Street opened, the Bureau of Labor Statistics (BLS) of the United States reported that the Producer Price Index (PPI) for August decreased by 0.1%, in line with expectations, while the year-over-year figure fell to 8.7%, less than the 9.8% reported in July. Meanwhile, the so-called core PPI, which excludes volatile goods, increased by 0.4% month-over-month and 7.3% year.

 

In the meantime, the US Dollar Index, a measure of the dollar's value against a basket of six currencies, ended Wednesday's session down 0.15 percent, at 109.648, weighed down by US Treasury yields, particularly the 10-year benchmark note rate, which remained unchanged throughout the day at approximately 3.404%.

 

The US Dollar Index reflects the aforementioned by declining by 0.09% and falling below the 110.000 barrier. Similarly, the US 10-year benchmark note rate exhibits signs of weariness, remaining flat at approximately 3.414%.

 

The fact that US 10-year TIPS yields, a proxy for actual yields, rose by only one basis point to 0.939% was a further factor supporting the white metal price.

 

On Thursday, the US economic calendar will contain jobless claims, retail sales, and the New York and Philadelphia Fed Manufacturing Indices, which will serve as a precursor to the ISM report in October.

 

The daily XAG/USD chart depicts the white metal as neutral to bearishly biased. Nonetheless, if silver buyers recapture the $20,000 threshold, this might pave the way for a test of a four-month-old downslope trendline near $20.20 prior to reaching the 100-day EMA at $20.39. A breach of the latter will reveal the cycle high from August 15 at $20.87, ahead of the psychological milestone of $21.00.


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