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On September 6th, local time, on September 5th, Venezuelan President Nicolas Maduro issued a statement calling on US President Donald Trump to abandon his plans for violence in Venezuela and warning that recent US military actions in the Caribbean pose a direct threat to regional stability. In his statement, Maduro condemned the US government for using the fight against drug trafficking as a pretext to promote regime change in Venezuela. He said the US is attempting to "use the drug problem to fabricate a completely false pretext to invade the entire country." Maduro emphasized that Venezuela, a country without coca cultivation or cocaine production, continues to combat drug trafficking networks. He reiterated that Venezuela respects the United States and hopes to receive respect in return.On September 6, according to Indian Asian News International (ANI) and other media reports, US President Trump said at the White House on September 5 local time on US-India relations, "I am always a friend of Modi" and "there is no need to worry" about the relationship between the two countries. Earlier, some US media broke the news that Trump might cancel his visit to India in the fall due to the cooling of relations with Indian Prime Minister Modi. ANI said that when asked by the media reporter whether he was ready to restart relations with India, Trump said, "I always want to do so. I am always a friend of Modi. He is an outstanding prime minister. I just dont like what he is doing at the moment, but I will always remain friends. But India and the United States have a very special relationship. There is no need to worry. We just have some small episodes occasionally."On September 6, Yueda Kias sales in August 2025 reached 20,974 vehicles, with monthly sales exceeding 20,000 vehicles for six consecutive months; the cumulative sales from January to August were 165,036 vehicles, a year-on-year increase of 7%; 20,000 vehicles were produced in August, and the cumulative production from January to August was 163,270 vehicles, a year-on-year increase of 9.5%; at the same time, 11,992 engines were exported in August, and the cumulative exports from January to August were 83,719 units. Production and sales continued to show a steady growth trend.On September 6th, Shenzhen Xiangfei Automobile Sales Co., Ltd., a restructuring investor in WM Motor, released a "White Paper to Suppliers" via WM Motors official Weibo account, announcing the companys five-year development plan for the new WM Motor. The company plans to launch more than 10 new products over the next five years to meet the diverse needs of the global market. Xiangfei stated that it is fully committed to quickly resuming mass production of the WM Motor EX5 and E5 models at its Wenzhou base, aiming for a minimum of 10,000 units by the end of 2025, with a goal of 20,000, generating "projected revenue of 1-2 billion yuan." According to the white paper, Xiangfei plans to initially invest 1 billion yuan in equipment upgrades, supply chain recovery, and product development.On September 6, Xiaopeng Motors: Xiaopeng Charging added 39 self-operated stations in the 35th week of 2025, including 1 S5 super-fast charging station, 34 S4 super-fast charging stations, 2 super-charging stations, and 2 destination stations.

Gold Price Prediction: XAU/USD will settle below $1,750 as attention switches to Jackson Hole

Alina Haynes

Aug 22, 2022 14:47

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After reaching a monthly high of $1,807.96, the gold price (XAU/USD) has dropped for five consecutive trading sessions. The price of gold fell below $1,750.00 for the first time since August. As investors drastically reduce their long positions in gold assets in anticipation of hawkish direction from the Federal Reserve, the price is expected to settle below the aforementioned crucial mark (Fed).

 

Observing contradictory comments in the Fed's minutes on policy direction weakened the gold rise earlier. James Bullard, president of the Federal Reserve Bank of St. Louis, proposed an additional 75 basis point (bps) rate hike to achieve price stability sooner. While a few Fed members have issued a statement on lowering the rate of interest rate hikes to protect the economy from future inflation threats, the majority of Fed policymakers have not.

 

As Chinese President Xi Jinping and Russian President Vladimir Putin have confirmed their attendance at the G20 summit in November, geopolitical concerns are also exerting a significant downward pressure on gold prices. This may renew Moscow's assault on humanity in Ukraine.

 

On the front of economic data, investors await the release of the US Durable Goods Orders report, which is anticipated to decrease to 0.6% from the previous release's 2%. When the US economy has previously shown a flat US core Consumer Price Index (CPI), a fall in economic data is not beneficial for the US dollar index (DXY).

 

On an hourly scale, gold prices have fallen to $1,744.70, which is close to the 50% Fibonacci retracement (set from July 21's low of $1,680.91 to August 10's high of $1,807.93). The 20-period and 50-period Exponential Moving Averages (EMAs) at $1,751.90 and $1,757.50, respectively, are falling swiftly, adding to downward filtering. In the meantime, the Relative Strength Index (RSI) (14) oscillates in a negative band of 20.00-40.00, indicating that further declines are likely.


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