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The head of the Iranian Red Crescent stated that since the US and Israel launched attacks on Iran, a total of 6,668 civilian facilities across the country have been attacked.On March 7th, Liu Dechun, Director of the Social Development Department of the National Development and Reform Commission, stated at a press briefing held by the State Council Information Office that the draft outline of the 15th Five-Year Plan makes a series of arrangements in education, healthcare, and social security. In education, the plan aims to increase the average years of schooling for the working-age population by another 0.4 years, from the current 11.3 years to 11.7 years. Among these, basic education will focus on expansion and quality improvement. The plan includes comprehensively promoting the high-quality and inclusive development of preschool education, the high-quality and balanced development of compulsory education, steadily expanding the scope of free education, exploring the extension of compulsory education years, and constructing, renovating, or expanding 1,000 high-quality general high schools.On March 7th, Yuan Da, Secretary-General of the National Development and Reform Commission, stated at a press briefing held by the State Council Information Office that the draft outline of the 15th Five-Year Plan focuses on accelerating the comprehensive green transformation of economic and social development, emphasizing the establishment of "one mechanism" and the implementation of "three tasks." These three tasks will be developed in depth around three aspects: accelerating the shift of energy towards new and green technologies, reducing carbon emissions and increasing green production, and improving efficiency in production and daily life. Specifically, accelerating the reduction of carbon emissions and increasing green production involves two aspects: First, increasing energy consumption by vigorously developing green and low-carbon technologies and industries, orderly promoting the transfer of eligible high-energy-consuming industries to areas rich in renewable energy resources, establishing approximately 100 national-level zero-carbon industrial parks, and planning and laying out more than 10,000 kilometers of zero-carbon transportation corridors. Second, reducing energy consumption by deeply implementing major energy-saving and carbon-reduction transformation projects in key industries, accelerating the elimination of outdated and inefficient production capacity, effectively managing high-energy-consuming and high-polluting projects, promoting low-carbon substitution of transportation power, and improving energy efficiency in emerging fields such as computing facilities and 5G base stations.On March 7th, Yuan Da, Secretary-General of the National Development and Reform Commission, stated at a press briefing held by the State Council Information Office that the draft outline of the 15th Five-Year Plan dedicates a separate chapter to this work, proposing to "enhance Chinas ability to manage the ocean, accelerate the construction of a maritime power, and forge a path of maritime strength with Chinese characteristics." The plan emphasizes innovation-driven development and accelerating self-reliance in marine science and technology. It calls for strengthening strategic marine science and technology capabilities, accelerating breakthroughs in key core technologies and equipment, and creating more "national strategic assets." It also aims to improve the marine science and technology innovation ecosystem, promote the digital and intelligent transformation of the marine sector, and advance the development of marine education, science, and technology talent. Furthermore, it prioritizes industrial upgrading, strengthening, optimizing, and expanding the marine industry. Given that my countrys shipbuilding and marine engineering equipment, marine fisheries, and offshore wind power industries are already the worlds largest, China will further consolidate and enhance its advantages in marine equipment manufacturing, cultivate and expand emerging industries such as marine biomedicine, improve the development level of modern shipping, marine tourism, and other service industries, and accelerate the efficient utilization of marine energy resources.On March 7, Chen Lei, Director of the Development Strategy and Planning Department of the National Development and Reform Commission, stated at a press briefing held by the State Council Information Office that in terms of new infrastructure, efforts will be strengthened to promote overall planning and efficient utilization. A number of strategically oriented, application-supporting, and forward-looking major scientific and technological infrastructures will be systematically planned and constructed. The deployment and application of 10-gigabit optical networks and the large-scale commercial use of 5G-A mobile communication networks will be promoted. A nationwide integrated computing power network will be built, and satellite communication, navigation, and remote sensing systems will be constructed in a coordinated manner. Low-altitude infrastructure will be built with scenario expansion as the driving force, thereby providing solid support for industrial upgrading and digital development during the 15th Five-Year Plan period and even longer.

Forecast for the price of gold: XAU/USD tussles with $1,730 resistance before US inflation

Daniel Rogers

Sep 13, 2022 10:57

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As traders anticipate the crucial US Consumer Price Index (CPI) on Tuesday, the price of gold (XAU/USD) grinds higher above a fortnight peak after a two-day advance to $1,725 per ounce. The market's optimism and anticipated preparations for today's inflation data may be responsible for the metal's most recent increases.

 

The market's cautious optimism appears to have been supported by rumors that Ukraine is succeeding in driving the Russian troops away from some of its conflict zones, even though this also increased concerns about Russia's strong response. The expectation of additional stimulus from powerful economies like China, the US, the UK, and Europe might be on the same lines. It's important to keep in mind that a Chinese holiday and a light schedule may have contributed to the XAU/recovery USD's because Beijing's lack of political or economic problems may have supported metal prices. In addition, recent news from the Wall Street Journal (WSJ) that US gas prices have fallen for a 13th week in a row helped to relieve market pressure and encouraged a risk-taking attitude that was favorable to the gold price.

 

However, the recent easing of the headline economics and the inflation expectations seems to have pushed back the gold bears despite a light schedule, even though the policymakers from the US Federal Reserve and the European Central Bank (ECB) remain hawkish elsewhere.

 

In the midst of these maneuvers, Wall Street posted another day of profits despite rising US Treasury yields, which at the time were up five basis points (bps) to 3.36%. The US Dollar Index (DXY), which fell for a second straight day to the lowest levels in a fortnight, eventually dipped to approximately 108.30, was affected by the same factors.

 

Moving on, the US CPI for August is critical in light of the most recent easing of pricing pressure. According to the projections, the headline figure will decline to -0.1% MoM from 0.0% the previous month, while the CPI excluding food and energy is expected to hold steady at 0.3% MoM. The US dollar may continue to decline if the inflation numbers are weaker, which might support the XAU/continued USD's gain.

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