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According to Irans Tasnim News Agency, Saudi-led coalition warplanes carried out four airstrikes in Saada, Yemen.Market news: Officials say the UK Reform Party will face a criminal investigation.On September 9th, a spokesperson for the Ministry of Commerce answered a reporters question regarding the US announcement on cybersecurity related to Chinese AI companies distillation activities in the US. The spokesperson stated that the US actions are a typical example of using state power to maintain technological hegemony and computing power monopoly, suppressing competition. Since the beginning of this year, the US executive and legislative branches have frequently issued threats of sanctions and suppression against Chinese companies distillation activities. Their aim is to suppress competition, maintain the US monopoly on computing power and data, ensuring only a US victory, preventing a win-win situation for humanity, and turning globally accessible AI resources into the exclusive resources of a few companies, thus preventing other countries from participating in the widespread sharing of AI innovation achievements.On September 9th, a spokesperson for the Ministry of Commerce answered a reporters question regarding the US announcement on cybersecurity related to distillation activities by Chinese AI companies in the US. The spokesperson stated that distillation is a common practice in the field of artificial intelligence, where models learn from each other. It is essentially a neutral technical means used by global model companies, including US companies. This technique can help models improve learning efficiency, enabling more efficient use of human knowledge. It has positive significance for developing the AI industry in various countries, unleashing the potential of AI technology, bridging development gaps, and benefiting developing countries and the general public more broadly. The US approach is a typical double standard. Regarding artificial intelligence, China encourages open source, openness, cooperation, and sharing. Chinas open-source models are open to global companies, including US companies, facilitating the development of related models. US company reports on model development also disclose that they distill a large number of Chinese models. In contrast, the US has repeatedly unilaterally accused Chinese companies of engaging in "industrial-scale" distillation, smearing common industry practices as attacks. This reflects both US anxiety and double standards.On September 9th, US Eastern Time, the National Security Agency, the Cybersecurity and Infrastructure Security Agency, and the Federal Bureau of Investigation jointly issued a statement accusing Chinese artificial intelligence companies of conducting "industrial-scale" distillation of their technologies in the US to acquire cutting-edge modeling capabilities, and offering recommendations for related defensive measures to US companies. What is Chinas comment on this? A spokesperson for the Ministry of Commerce stated that China is willing to engage in constructive and professional discussions with the US through dialogue based on the principles of equality, mutual benefit, and win-win cooperation. However, if the US uses the pretext of combating distillation to suppress Chinese artificial intelligence companies, China will resolutely take countermeasures. China hopes the US will work with China to manage risks through dialogue and communication, and promote the global benefits of the artificial intelligence industry.

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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