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June 16th - According to the latest report, "China Non-IA Chip Server Market Share," released by International Data Corporation (IDC), shipments of non-IA chip servers in China will reach 1.423 million units in 2025, representing a year-on-year increase of 24.3%, far exceeding the overall market growth rate of 4.4%. Among them, Huakun Zhenyu ranks first in terms of the market share of non-IA chip server shipments in China with 13.7%. In terms of server volume, over 80% are general-purpose servers, with demand from edge inference applications being one of the core drivers of the growth in server volume.Hong Kong stocks fell more than 2% in the afternoon, while the Hang Seng Tech Index fell 1.42%. Hua Hong Semiconductor (01347.HK), China Hongqiao (01378.HK), and China Resources Mixc Lifestyle (01209.HK) fell more than 5%, Bilibili (09626.HK) and Kuaishou (01024.HK) fell more than 4%, and Baidu (09888.HK), Meituan (03690.HK), Horizon Robotics (09660.HK), and SenseTime (00020.HK) all fell more than 3.5%.Reserve Bank of Australia Governor Bullock will hold a monetary policy press conference in ten minutes.June 16 – The 68th meeting of the Standing Committee of the 14th National Peoples Congress (NPC) was held on the morning of June 16 at the Great Hall of the People in Beijing. Chairman Zhao Leji presided over the meeting. The meeting decided that the 23rd session of the Standing Committee of the 14th NPC will be held in Beijing from June 23 to 26. The meeting recommended that the 23rd session of the Standing Committee of the 14th NPC deliberate on the State Councils proposals regarding the draft revisions to the Bidding and Tendering Law, the draft Financial Law, the draft revisions to the Law of the Peoples Bank of China, and the draft decision authorizing the Hong Kong Special Administrative Region to exercise jurisdiction over the Hong Kong side of the Huanggang Port and related extended areas.According to The Information: DeepSeek has completed a record funding round of over $7 billion, valuing the company at over $50 billion.

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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