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On September 20, 2026, the Ministry of Agriculture and Rural Affairs and the China Meteorological Administration issued a warning for the risk of disasters caused by continuous rain during the autumn harvest. From September 21 to 28, frequent rainfall is expected in southeastern Northwest China, eastern Southwest China, the Jianghan Plain, western Huanghuai Plain, and northern Anhui, posing a high risk of disasters during the autumn harvest. Specifically, from September 23 to 27, northeastern Sichuan, central and northern Chongqing, southeastern Shaanxi, southern Henan, northwestern Hubei, and northwestern Anhui will experience continuous moderate to heavy rain, with some areas experiencing torrential rain and localized extremely heavy rain, further increasing the risk of disasters during the autumn harvest. It is recommended that the above-mentioned areas seize the opportunity during breaks in rainfall to harvest mature crops promptly, and pay attention to ventilation, storage, drying, and storage. In areas with heavy rainfall, timely ditching and drainage should be carried out after the rain to create suitable conditions for agricultural machinery operations.On September 20th, it was reported that on September 15th, Ding Xiangqun, Secretary of the Party Committee and Director of the State Financial Regulatory Commission, met with Du Jiaqi, Chairman of the Board of Directors of AIA Group. The two sides exchanged views on the latest developments in the insurance industry and AIA Groups operations in China.September 20th - The Eighth Session of the Seventh Shenzhen Municipal Peoples Congress convened at the Civic Center on September 20th to elect the Mayor of Shenzhen Municipal Peoples Government. At 10:30 AM, the Congress held its first plenary session, approving the election procedures. At 3:00 PM, the Congress held its second plenary session, electing Li Yun as Mayor of Shenzhen Municipal Peoples Government by secret ballot.September 20th - With the Mid-Autumn Festival and National Day holidays approaching, the airfare market continues to heat up. Monitoring on September 20th revealed that popular long-haul tourist routes and return-home routes saw significant price increases the day before the Mid-Autumn Festival. On October 7th, the lowest price on the platform for a flight from Urumqi to Shanghai reached 3070 yuan, approximately 99% higher than the 1540 yuan price for a flight from Shanghai to Urumqi on September 24th, nearly doubling. The Shenzhen-Chongqing route also shows a trend of "more expensive return trips": the lowest price for a Shenzhen-Chongqing outbound flight on September 24th was 1010 yuan, while the lowest price for a Chongqing-Shenzhen flight on October 7th was 1450 yuan, a return price increase of about 44%. Current booking and forecast data indicate that this years "Double Festival" civil aviation market is showing a clear characteristic of "both volume and price increases." Flight Manager data shows that as of September 17th, the average booked domestic economy class ticket price during the 2026 Mid-Autumn Festival and National Day holidays is approximately 973.7 yuan, a year-on-year increase of 9%; the average daily passenger volume is expected to increase by 3.1% year-on-year during the same period.The China Earthquake Networks Center officially reported that a 6.2-magnitude earthquake occurred in Papua New Guinea (5.90 degrees south latitude, 146.10 degrees east longitude) at 17:17 on September 20, with a focal depth of 120 kilometers.

Gold Price Prediction: XAU/USD extends advances after attracting bids near $1,650; yields target 4%

Alina Haynes

Oct 26, 2022 15:06

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The gold price (XAU/USD) has extended its advances to around $1,657.50 after a more robust recovery from $1,650.00, the key support level. Thursday's announcement of US Gross Domestic Product (GDP) data is anticipated to keep investors on the edge of their seats about the precious metal.

 

The risk profile exhibits conflicting responses as S&P500 futures seek a rebound following a large decline in Tokyo. The failure of the US dollar index (DXY) to sustain above the round-level resistance of 111.00 implies a drop in the appeal of safe-haven assets.

 

As investors have abandoned the risk-aversion thesis, the alpha generated by US Treasuries is seeking greater downside. The yields on 10-year US Treasuries have fallen below 4.10 percent, and the present downward momentum could weigh on future pressure.

 

On Thursday, the announcement of US GDP statistics is anticipated to cause extreme price volatility in gold. According to preliminary estimates, the US growth rate for the third quarter of CY 2022 is 2.4%, up from a previously reported negative rate of 0.6%.

 

After falling below the horizontal support established by Thursday's high of $1,640.55, gold prices have rebounded strongly on an hourly scale. The downward-sloping trendline drawn from the high of October 13 at $1,682.53 will act as significant resistance for gold prices going forward.

 

As the Relative Strength Index (RSI) (14) has moved into the 40.00-60.00 zone, a sideways trend is anticipated for the precious metal in the future. Near $1,651.50, the 20-period Exponential Moving Average (EMA) is providing significant support for the currency.