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According to the European-Mediterranean Seismological Centre, a 5.4-magnitude earthquake struck the Pakistan region.Irans Meh News Agency, citing local officials, reported that the US attack did not cause any damage to the port of Sirik.On June 27th, the toroidal field magnet, the largest superconducting component of the "Comprehensive Research Facility for Key Systems of Fusion Reactor Main Unit," a major national science and technology infrastructure project, completed its final fabrication process and passed expert review. Simultaneously, the high-temperature superconducting central solenoid coil magnet also completed full-condition parameter testing, with its core performance reaching internationally leading levels. The toroidal field magnet is currently the largest fusion reactor superconducting magnet in the world. Measuring 21 meters long, 12 meters wide, and 3.3 meters high, with a total weight of 582 tons, it is currently the worlds largest fusion reactor superconducting magnet. The toroidal field magnet is one of the most important components of the "Comprehensive Research Facility for Key Systems of Fusion Reactor Main Unit." During the operation of the nuclear fusion device, the superconducting magnet generates a strong magnetic field to confine plasma at temperatures exceeding 100 million degrees Celsius. The toroidal field magnet is responsible for constructing the toroidal magnetic field to confine the plasma, reducing the impact loss of high-energy particles on the vacuum chamber walls. Currently, all key links in the entire magnet chain are domestically produced and controllable, with various performance indicators leading similar international products.On June 27th, Yu Weining, Chief Statistician of the Industrial Statistics Department of the National Bureau of Statistics, interpreted the industrial enterprise profit data for January-May 2026. Yu stated that profits in the raw materials manufacturing sector grew rapidly. From January to May, profits of enterprises above designated size in the raw materials manufacturing sector increased by 83.1% year-on-year, contributing 10.2 percentage points to the overall profit growth of industrial enterprises above designated size. By industry, driven by increased demand from emerging industries such as new energy and artificial intelligence, prices of products such as copper and aluminum remained at high levels, pushing profits in the non-ferrous metals industry to increase by 117.1%, contributing 5.3 percentage points to the overall profit growth of industrial enterprises above designated size. Driven by rising prices of products related to the petroleum industry chain, the petroleum processing industry turned a profit year-on-year, and the chemical industry saw a profit increase of 71.6%.On June 27th, Yu Weining, Chief Statistician of the Industrial Statistics Department of the National Bureau of Statistics, interpreted the industrial enterprise profit data for January-May 2026. Yu stated that the profits of high-tech manufacturing maintained double-digit growth. From January to May, the profits of large-scale high-tech manufacturing enterprises increased by 44.7% year-on-year, contributing 8.0 percentage points to the overall profit growth of large-scale industrial enterprises, demonstrating its continued leading role. By industry, the semiconductor industry chain performed well. In electronic device manufacturing, the profits of optoelectronic device manufacturing and semiconductor discrete device manufacturing increased by 53.8% and 40.6% respectively; in electronic component and electronic special material manufacturing, the profits of electronic special material manufacturing and electronic circuit manufacturing increased by 665.4% and 19.7% respectively. The medical equipment and related industries saw rapid profit growth, with the profits of dental equipment and instruments manufacturing and hygiene materials and medical supplies manufacturing increasing by 26.4% and 23.2% respectively.

Forecast for the price of gold: XAU/USD hopes to reclaim $1,800 as investors lower their expectations for US inflation

Alina Haynes

Aug 10, 2022 11:29

截屏2022-06-10 下午4.40.17_1024x576.png 

 

After reaching a new monthly high at about $1,800.00 on Tuesday, the price of gold (XAU/USD) is now showing a contraction in volatility. On Tuesday, the precious metal made a respectable rise to the north before moving sideways in anticipation of the US Consumer Price Index (CPI). According to the street estimates, the inflation rate decreased considerably from the previous announcement by 40 basis points (bps) to 8.7%. The price rise index, however, is very likely to make an unexpected shift.

 

The investment community is aware that rising oil prices continued to be the key factor pushing up price pressures. Now, concerns about fixed supply and a bleak demand forecast on the oil front have caused an even greater decline in oil prices. The inflation rate will also show the multiplier effect.

 

Additionally, the positive US Nonfarm Payrolls (NFP) data from last week suggests that the inflation rate may climb more than expected. In contrast to the 372k jobs added in June, the US economy added 528k new employment in July. Well, until the dust settles for a longer period of time, officials at the Federal Reserve (Fed) will still have a difficult task.

 

Following a robust recovery from the lower part of the Rising Channel at roughly $1,765.00, gold prices are currently rising quickly. The upper part of the aforementioned chart pattern is drawn from the high of July 22 at $1,739.37, and the lower part is drawn from the low of July 27 at $1,711.55.

 

The upside filters are strengthened by the scaling higher of the 20- and 50-period Exponential Moving Averages (EMAs) at $1,785.15 and $1,772.00, respectively. Additionally, the Relative Strength Index (RSI) (14) has moved into the bullish zone of 60.00-80.00, indicating further gains are still to come.


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