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August 5th - According to South Korean media reports, a forecast indicates that South Korea will maintain its leading position in the global memory chip market until 2031, thanks to significant investments from companies like Samsung Electronics and SK Hynix. However, demand for high-bandwidth memory (HBM) is expected to rapidly expand from Nvidias graphics processing units (GPUs) to AI accelerators developed by large tech companies like Google. Josephine Lou, an industry analyst at the French market research firm Yole Group, stated at the 2026 Future Memory & Storage Conference in California on August 4th that South Korea will maintain its leading position in the memory industry until 2031. Lou pointed out that South Korea plans to double its wafer capacity within the next five years, and Samsung Electronics and SK Hynix have also increased their investments. Analysts indicate that as Samsung Electronics and SK Hynix simultaneously expand their next-generation DRAM (including HBM) and NAND production capacity and technology development, South Koreas advantage will continue.Chief Cabinet Secretary Minoru Kihara: The Bank of Japan is expected to adopt appropriate monetary policy to achieve its price target sustainably and stably, while working closely with the government.August 5th - The Ministry of Finance issued the fourth tranche of RMB treasury bonds for 2026 in the Hong Kong Special Administrative Region today (August 5th), with an issuance scale of RMB 15 billion.The main platinum contract rose more than 5% to 425 yuan/gram; the main palladium contract rose more than 5% to 319.45 yuan/gram.August 5th - The Ministry of Natural Resources announced that the National Marine Forecasting Center has issued a yellow alert for sea waves. Affected by Typhoon Dolphin (No. 13 of this year), it is expected that from the afternoon of August 5th to the morning of August 6th, the eastern part of the East China Sea will experience giant waves to very rough seas of 5 to 8 meters. The nearshore sea wave warning level is yellow. Vessels operating in the aforementioned sea areas are advised to pay attention to safety, and relevant coastal units are advised to take precautions against waves.

Gold Price Prediction: XAU/USD oscillates about $1,650 as DXY recovers recent losses

Alina Haynes

Oct 25, 2022 15:24

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Gold price (XAU/USD) is indecisive while rebounding from intraday lows to $1,650 ahead of Tuesday's European session.

 

Nevertheless, the yellow metal attracted purchasers earlier in the day due to a weaker U.S. dollar, but the currency's recent resurgence looks to have weighed on the price recently. It should be mentioned that unfavorable concerns regarding China, one of the world's largest gold consumers, have recently posed a threat to the pricing of precious metals.

 

In the absence of Fed-speak, the US Dollar Index (DXY) gains bids to reclaim the 112.00 mark while trimming its first weekly loss in three weeks. It should be emphasized that the Fed's aggressive rhetoric and weak US PMIs also support the DXY's safe-haven appeal.

 

China's efforts to protect its struggling economy and worldwide pessimism regarding Xi Jinping's third term, not to mention Hang Seng's decline to a 13-year low, impose downward pressure on market mood and the XAU/USD exchange rate.

 

US 10-year Treasury rates continue under pressure around 4.21 percent, down two basis points (bps), while US stock futures and Asia-Pacific markets are moderately bid.

 

Moving forward, second-tier US Housing data and Consumer Confidence indicators may delight gold speculators before Thursday's third-quarter US Gross Domestic Product report (Q3).

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