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According to a recent presentation seen by the Financial Times on September 19th, OpenAI expects to have burned through nearly $280 billion by the end of 2030. The presentation also indicates that OpenAI anticipates generating a negative free cash flow of up to $278 billion over the five years from 2026 to 2030, as the company invests heavily to expand its access to computing power. Revenue is projected to grow tenfold during this period, from $36 billion this year to $350 billion in 2030. The company expects to generate a cumulative revenue of $840 billion from now until the end of 2030. OpenAI anticipates investing approximately $856 billion in computing power and infrastructure by the end of 2030, which will be its largest single expenditure.September 19 - Explosions were heard again in Riyadh, the capital of Saudi Arabia, on the 19th. Thick smoke rose near King Khalid International Airport, located northeast of Riyadh.A NATO spokesperson stated that the agreement will help promote security, stability, and cooperation in this important region. NATO will continue to contribute to strengthening Arctic security.On September 19th, BlackRock Fund Management Co., Ltd. was granted Qualified Domestic Institutional Investor (QDII) status, becoming the first newly established foreign-invested mutual fund institution to receive this qualification. Against the backdrop of two expansions of QDII quotas this year and the first-ever approval of quotas for securities and fund institutions exceeding US$100 billion, the pace of foreign mutual fund participation in the cross-border investment market has further accelerated. Since the beginning of this year, the pace of QDII channel expansion has significantly accelerated. Data released by the State Administration of Foreign Exchange at the end of March showed that the cumulative approved QDII quota for the entire market increased by US$5.3 billion compared to the end of 2025, reaching US$176.169 billion. At the end of August, the State Administration of Foreign Exchange issued another US$6.84 billion in QDII quotas, involving 89 institutions. As of the end of August, the cumulative approved QDII quota for 196 institutions in the entire market rose to US$183.009 billion.September 19th - According to Sky News, Tata Steel, the UKs largest steelmaker, is seeking new government funding to address delays in its Port Talbot plant transformation project. Tata Steel has been in talks with the UK Department for Business, Innovation and Science in recent weeks to discuss a new support package. This request comes in addition to the £500 million grant the UK government provided to Tata Steel in 2023 for the construction of an electric arc furnace (EAF) in Port Talbot. The new EAF was originally scheduled to be operational by early 2028. However, due to delays in grid connection, Tata Steel has determined that the new EAF will now be unable to be operational by the end of 2028 or early 2029. The company calculates that increased project-related costs and lost sales due to the EAF delay will significantly increase overall costs. The specific amount of additional government funding Tata Steel is seeking is unclear, but industry sources suggest it could reach hundreds of millions of pounds.

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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