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On February 14, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended the Munich Security Conference and delivered a speech and answered questions at the "China Session." When asked about Chinas role in resolving regional conflicts, particularly the Ukraine issue, Wang Yi stated that Chinas position is clear: all regional hotspots should seek political solutions through dialogue and consultation, and the same applies to the Ukraine issue. However, China is not a party to the conflict, and the decision-making power is not in Chinas hands. What we can do is to promote peace talks. We have dispatched special envoys to mediate and, through various channels, emphasized to all parties that a ceasefire should be implemented as soon as possible, and that everyone should return to the negotiating table.On February 14, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended the Munich Security Conference, delivered a speech at the "China Session," and answered questions from the audience. Wang Yi emphasized that the erroneous remarks by Japanese leaders on the Taiwan issue exposed Japans undying ambition to invade and colonize Taiwan and the lingering specter of reviving militarism. Japan launched its invasion of China and attacked Pearl Harbor under the pretext of a so-called "crisis and existential crisis." The lessons of history are still fresh and must be heeded. If Japan does not repent, it will inevitably repeat the same mistakes. Good people should be vigilant. First and foremost, the Japanese people must be reminded not to be blinded and coerced by far-right forces and extremist ideologies again. All peace-loving countries should also warn Japan: if it chooses to go back to its old ways, it will only lead to its own destruction.Joint statement from the UK, Switzerland, France, Germany, and the Netherlands: We and our partners will use all policy tools at our disposal to continue to hold Russia accountable.Joint statement from the UK, Switzerland, France, Germany, and the Netherlands: We further express our concern that Russia has not destroyed all of its chemical weapons.The United Kingdom, Sweden, France, Germany, and the Netherlands issued a joint statement regarding the death of Alexei Navalny.

Gold Price Prediction: XAU/USD clings to 29-month low near $1,650; Ukraine, Fed's Powell in spotlight

Daniel Rogers

Sep 26, 2022 12:01

Gold price (XAU/USD) licks its wounds around a two-year bottom, at $1,645 during Monday's Asian session, as bears take a breather following the week's largest daily decline ahead of important catalysts. The contradictory news regarding Europe and Russia may further put pressure on metal prices. Despite this, bears remain optimistic despite the widespread rush to endanger safety.

 

Germany's ability to secure a gas contract with Abu Dhabi, as well as Russia's lack of rapid response to Group of Seven (G7) chatter about mustering guts against Moscow, indicated a correction in mood. Recently, a holiday in New Zealand and a light calendar in Asia allowed the XAU/USD bears to catch their breath.

 

During the past week, the gold price was pushed down by high US PMIs, weak activity data from the bloc, Russia's stern warning to the West, and the Group of Seven's (G7) readiness to respond with penalties. In addition, the XAU/USD was pulled down by hawkish central bankers and fears of recession.

 

Nonetheless, the initial readings of the S&P Global PMI for the month of September indicated that the European economy contracted significantly, hampered by rising energy prices. The German Services PMI reached its lowest level in two years, while its European counterpart reached its lowest level in 19 months. In addition, Manufacturing PMIs reached their lowest level in twenty months. In September, the US S&P Global Manufacturing PMI increased to 51.8 from 51.5, and the US S&P Global Services PMI improved from 44.6 to 49.0.

 

Jerome Powell, chairman of the Federal Reserve, stated elsewhere on Friday, "We are committed to deploying our tools." Following him, Fed Vice Chair Lael Brainard stated that 'hard' inflation is impacting low-income people. Raphael Bostic, president of the Atlanta Federal Reserve, told CBS' "Face the Nation" over the weekend that he still believes the central bank can reduce inflation without substantial job losses, given the economy's sustained pace, as reported by Reuters, citing the Fed official's interview.

 

According to a recent CBS interview, Ukraine's president Zelenskiy stated that "Putin's nuclear threats may have been a bluff, but now they might become a reality." The United States, meanwhile, warned of "catastrophic repercussions" if Moscow used nuclear weapons in Ukraine, after Russia's foreign minister stated that territories hosting heavily condemned referendums would receive full security if annexed by Moscow.

 

Wall Street closed in the red, US Treasury yields increased, and the US Dollar Index (DXY) reached a new multi-year high against this backdrop. Consequently, S&P 500 Futures record modest losses at the latest.

 

Intraday movements will be heavily influenced by Italy's election results and a statement by European Central Bank (ECB) President Christine Lagarde. Nonetheless, the week will be dominated by the Ukraine-Russia conflict, comments from Fed Chair Powell, and US Durable Goods Orders for direction.


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