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August 19th - According to the latest report from AFP, British Prime Minister Andrew Burnham confirmed on the 18th that he had exchanged messages with someone impersonating Susie Wiles, the White House Chief of Staff. The report stated that Burnham discussed the matter during a visit to Wolverhampton, a city in central England, saying that "nothing sensitive was discussed in the exchange." When asked if he was embarrassed by being deceived, Burnham replied, "No, Im not embarrassed because it was a very brief exchange, nothing substantial. And I quickly realized I needed to report it, and I did." US media reported that on the 17th, a reporter asked US President Trump if he was concerned about the matter. Trump responded that he believed it was just a "communication misunderstanding" and said he had had several "very good conversations" with Burnham.On August 19th, according to the Wall Street Journal, OpenAI told investors that its second-quarter revenue grew 18% from the first quarter, but losses widened further, disappointing some shareholders who had hoped the startup would make more progress and catch up with its competitor Anthropic. According to sources familiar with the matter, the companys revenue reached $6.7 billion in the three months ending June, compared to $5.7 billion in the first quarter. Meanwhile, its operating profit margin declined further, making its prospects for profitability ahead of its highly anticipated IPO even more uncertain.According to the Wall Street Journal, OpenAI said its revenue grew to $6.7 billion in the three months ending in June.Market sources indicate that Anthropic is expected to begin its IPO process within weeks.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 5.6 occurred near Haixi Prefecture, Qinghai Province at 05:36 on August 19. The final result is subject to the official rapid report.

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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