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Citadel Securities predicts that new debt financing for artificial intelligence chips will exceed $500 billion by 2028.The Israel Defense Forces said they killed an Islamic Jihad commander in Gaza.On August 3rd, Luckin Coffee released its second-quarter financial report, achieving revenue of RMB 15.89 billion, a year-on-year increase of 28.5%, and opening over 5,000 new stores in the first half of the year. The report shows that Luckin Coffees performance growth was mainly driven by the increase in stores and the growth in the number of monthly transacting customers. Luckin Coffees average monthly transacting customers in the second quarter reached 112.7 million, a year-on-year increase of 22.9%. However, affected by the high base from last years food delivery war, the same-store sales growth rate of Luckins self-operated stores in the second quarter was -5.3%, compared to 13.8% in the same period of 2025. But as the market returns to rationality, Luckins operating profit from self-operated stores in the second quarter was RMB 2.47 billion, a year-on-year increase of 25.9%, with the store operating profit margin remaining flat compared to the previous year. In response to analyst questions, Guo Jinyi believes that the Chinese coffee market is still in a rapid growth phase with continuously increasing penetration and steadily rising consumption frequency, and the ceiling for coffee store expansion is still very high. As coffee penetration and consumption frequency increase, this ceiling continues to rise, and Luckin Coffee will continue to maintain its store opening pace to increase its market share.On August 3, Windward Maritime Analysis, a UK-based company, released ship tracking data showing that six Saudi Arabian oil tankers are heading towards the Cape of Good Hope, bypassing the Bab el-Mandeb Strait and the Red Sea to avoid security risks posed by the Houthi rebels in Yemen to Saudi-related vessels. The companys analysis indicates that for some tankers bound for the United States, the route around the Cape of Good Hope will add approximately six to seven days to the journey compared to the direct route via the Suez Canal and the Bab el-Mandeb Strait. Windward believes that the fact that all six tankers chose to detour during empty segments suggests a broader Saudi operational policy to avoid its vessels entering the relevant waters, rather than a temporary measure targeting specific cargo risks.Iranian Foreign Minister Araghchi: We come here once a year (to Najaf, Iraq) to draw energy and then leave.

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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