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February 2nd - On February 2nd local time, DTEK, Ukraines largest private energy company, announced that, following instructions from the State Electricity Company of Ukraine, it had implemented emergency power outages in Kyiv and Kyiv Oblast.On February 2nd, Hengrui Medicine announced that in January 2026, the company repurchased 889,700 shares through the Shanghai Stock Exchange trading system via centralized bidding. The repurchased shares account for 0.013% of the companys total share capital. The highest purchase price was RMB 58.21 per share, and the lowest price was RMB 56.10 per share. The total amount paid was RMB 51,072,400 (excluding transaction fees).February 2nd - On February 2nd local time, the Iranian Foreign Ministry spokesperson stated regarding the EUs designation of the Iranian Islamic Revolutionary Guard Corps as a "terrorist organization" that, as a minimum measure, Iran has summoned all European ambassadors to Iran to lodge a written protest. EU High Representative for Foreign Affairs and Security Policy, Kalas, posted on social media on January 29th that the foreign ministers of EU member states had taken a "decisive step" that day, deciding to add the Iranian Islamic Revolutionary Guard Corps to the list of "terrorist organizations."February 2nd - The China Electricity Council released data today showing that by 2025, Chinas newly installed power generation capacity will reach 550 million kilowatts, of which wind and solar power will account for 440 million kilowatts, representing 80.2% of the total new installed capacity. Statistics show that wind, solar, and biomass power generation currently accounts for 97.1% of the total new electricity consumption, becoming the main source of new electricity consumption. my countrys green electricity supply capacity continues to strengthen, and the pace of green and low-carbon transformation of energy and power is accelerating.February 2nd - Hong Kong stocks opened lower and continued to weaken throughout the day. At the close, the Hang Seng Index fell 2.23%, and the Hang Seng Tech Index fell 3.36%. Gold stocks continued their sharp decline, with Shandong Gold (01787.HK) falling over 12%; copper mining stocks weakened, with Jiangxi Copper (00358.HK) falling over 8%; chip stocks led the decline, with Hua Hong Semiconductor (01347.HK) falling over 11% and GigaDevice (03986.HK) falling over 9%; new energy vehicle stocks continued their correction, with XPeng Motors (09868.HK) and BYD (01211.HK) both falling over 6%; in addition, mainland property stocks, biopharmaceuticals, coal, commercial aerospace, telecommunications services, and oil-related stocks also saw significant declines. In terms of individual stocks, MINIMAX-WP (00100.HK) rose more than 10%, China Telecom (00728.HK) fell more than 5%, and CNOOC (00883.HK) fell more than 4%.

Gold Price Prediction: XAU/USD fluctuates within the $30 level as FOMC Minutes approach

Daniel Rogers

Feb 22, 2023 15:16

Gold price (XAU/USD) tests a two-day downturn as it floats around $1,835 at the start of Wednesday. As traders anticipate the Federal Open Market Committee's (FOMC) Monetary Policy Meeting Minutes, the precious metal maintains its trading range of approximately $30.00 from the previous week. Notably, geopolitical concerns and the US Dollar's weak movements around the multi-day peak appear to act as filters for XAU/USD traders.

 

In spite of this, stronger preliminary US S&P Global PMIs for February and hawkish Fed bets supported the US Dollar Index's first daily gain in three days, with the index closing down 0.07% intraday near 104.11 at the latest.

 

However, the weak movements of US Treasury bond yields near the three-month high reached the day before appear to have stifled the XAU/momentum USD's of late.

 

The hawkish bias around the US Federal Reserve (Fed) and rumors of an impending policy flip may also test Gold traders.

 

In addition, comments by US Secretary of State Antony Blinken and Russian President Vladimir Putin have an impact on market mood and the price of gold, as both imply an escalation of tensions between Moscow and Kyiv, in which the West and China have recently played an indirect role. But, the absence of substantial updates in Asia appeared to have halted the risk-averse sentiment.

 

US 10-year and 2-year Treasury note rates oscillate around the three-month highs established the previous day, while S&P 500 Futures post modest gains despite Wall Street's negative closing price.

 

In the near future, conflicting sentiment and caution ahead of the FOMC Minutes could maintain XAU/USD on a precarious floor, but the hints for a Fed policy reversal will be sufficient to recall Gold purchasers.


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