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On January 19th, Dinglong Technology announced its 2025 annual performance forecast, projecting net profit attributable to shareholders of the listed company to be between 700 million and 730 million yuan, representing a year-on-year increase of 34.44% to 40.20%. Net profit excluding non-recurring gains and losses is expected to be between 661 million and 691 million yuan, representing a year-on-year increase of 41.00% to 47.40%. During the reporting period, strong growth in the semiconductor materials and display materials businesses, coupled with deepened cost control and the release of lean operational efficiency, drove improved profitability.Brazilian economists predict that the Central Bank of Brazils benchmark interest rate will be 12.25% by the end of 2026; this was also the previous forecast.A spokesperson for the European Commission said the EU Transatlantic Relations Council will convene on Thursday, January 22.On January 19th, Jianghua Microelectronics announced that its controlling shareholder, Zibo Xingheng Tusong, after planning a major event leading to a change of control, signed a conditional share transfer agreement with Shanghai Fuxun Technology. Due to the progress of the above matter, the companys stock will resume trading on January 20, 2026. This change of control is still subject to several procedures, including internal decision-making and regulatory approval, and therefore involves uncertainty. The company promises to strictly fulfill its information disclosure obligations according to the progress of the matter and reminds investors to pay attention to investment risks.A German government spokesperson stated that tariff threats are unacceptable and that the government is determined to respond to new tariffs with retaliatory tariffs.

Gold Price Prediction: XAU/USD declines near $1,750 as risk aversion anticipates NFP data release

Alina Haynes

Aug 02, 2022 15:03

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During Tuesday's opening European session, the gold price (XAU/USD) deepens its retreat from a nearly three-month-old resistance line, falling below $1,773. In spite of this, the precious metal exhibits a five-day rise around the greatest levels since July 5.

 

The metal's early-day rally may have been influenced by a broad dollar decline and Treasury rates. The XAU/USD exchange rate afterwards looked to have been influenced by China-related news and rising worries of an economic downturn.

 

Nonetheless, the visit of US House Secretary Nancy Pelosi to Taiwan and the probable difficulties for Chinese chipmakers as a result of the U.S. consideration of banning supplies of American chipmaking equipment further weigh on market mood. Similarly, a Chinese media story may indicate that the dragon country is prepared for a military exercise in Bohai, South China Sea.

 

In addition, Bloomberg's report that Beijing's Gross Domestic Product (GDP) has no fixed limits tends to dampen the market's risk appetite. People acquainted with the situation were quoted in the press as saying, "China's top leaders instructed government officials last week that this year's economic growth objective of "about 5.5 percent" should serve as guideline rather than a mandatory aim."

 

It should be emphasized that China is one of the world's largest users of gold, and that bad news stories about the country might impact on gold prices.

 

Elsewhere, the recently poor US PMIs mirrored last week's US Gross Domestic Product (GDP) for the second quarter to illustrate economic anxiety. Fed Chair Jerome Powell's veiled warnings that the hawks are losing steam might also dampen sentiment.

 

As a reflection of market mood, equities in the Asia-Pacific region and US stock futures see modest losses. However, the US 10-year bond yield decreases 5.5 basis points (bps) to 2.55 percent at the latest, threatening the gold bears via the weakening US dollar. In spite of this, the US Dollar Index (DXY) reestablished the monthly minimum before rebounding from 105.00.

 

The news concerning China and the recession, as well as the remarks of Chicago Fed President Charles L. Evans and Federal Reserve Bank of St. Louis President James Bullard, will be crucial for intraday gold dealers in the future.


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