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On August 27th, according to the Wall Street Journal, Barret Zoph, co-founder of Thinking Machines Lab, has changed employers again after his abrupt departure earlier this year due to disagreements with CEO Mira Murati to join OpenAI. Google stated that Zoph will join Google as Vice President of Research. Zoph previously served as Chief Technology Officer of Thinking Machines before returning to OpenAI to drive the sale of AI products to enterprises. A Google spokesperson said, "We look forward to Barrets return to Google and bringing his expertise in reinforcement learning and post-training to Gemini." Zoph left Thinking Machines in January of this year, along with co-founder Luke Metz and another employee, Sam Schoenholz.On August 27, the Hengzhou Meteorological Observatory in Guangxi continued to issue a red rainstorm warning signal at 8:10 a.m.: Since 3:00 a.m. on the 27th, Pingma, Luancheng, Liujing and other towns in Hengzhou City have experienced heavy rainfall of 50-90 mm, with some areas reaching 130 mm. It is expected that in the next 3 hours, Shitang, Taowei, Liujing, Xiaoyi, Zhenlong, Maling and Yunbiao towns in Hengzhou City will still experience heavy rainfall of 30-50 mm, with some areas exceeding 60 mm. Other areas will experience rainfall of 15-25 mm, accompanied by thunderstorms and short-term strong winds. The meteorological risk of flash floods and geological disasters is very high.On August 27th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.2030%, and the lowest was 0.7060%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0110%, and the lowest was 0.8720%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0410%, and the lowest was 0.9000%.Hong Kong-listed AI stocks rallied, with Zhipu (02513.HK) rising nearly 5%, Biren Technology (06082.HK) up 4.86%, and Tianshu Zhixin (09903.HK) and MINIMAX-W (00100.HK) rising nearly 4%.The Bank of Korea: Uncertainties remain regarding the extent of expansion in the chip industry, the situation in the Middle East, and changes in the trade environment.

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

Alina Haynes

Oct 25, 2022 15:24

 截屏2022-09-23 下午2.30.52.png

 

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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