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On September 7th, Iranian Foreign Ministry spokesman Bagaei stated that negotiations between Iran and Oman to demarcate a safe maritime passage through the Strait of Hormuz have made significant and substantial progress. Despite attempts by some third-party forces to obstruct and interfere, hindering the negotiations several times, the consultations between the two countries have now entered the final stage. On August 25th, Iran and Oman issued a joint statement announcing plans to establish a mutually agreed-upon safe maritime passage through the Strait of Hormuz.On September 7th, according to the Shanghai Institute of Optics and Fine Mechanics (SIOM), Chinese Academy of Sciences, the research team led by Professor Xie Peng of the Aerospace Laser Technology and Systems Department at SIOM has recently made progress in the field of multidimensional multiplexed optical computing. The relevant results were published in Laser & Photonics Reviews. Building upon the research on the "Meteor-1" ultra-high parallel optical computing integrated chip, the research team further expanded the integration of wavelength division multiplexing and space division multiplexing, as well as the sharing of multi-task matrix networks, constructing a multidimensional multiplexed optical computing architecture. This architecture enables parallel processing of multi-task and multi-modal information, verifying its feasibility in remote sensing image registration and recognition tasks.September 7th - The new generation Huawei MatePad Air was officially released on September 7th. Weighing 509g and 5.3mm thick, its the first MatePad Air series to feature an OLED screen, boasting a super-bright OLED Cloud Clear Soft Light Display with a peak brightness of up to 2000 nits. It supports 66W SuperCharge and a stylus, and is available in five colors. The Enjoy Edition starts at 4499 yuan, and the standard version starts at 5299 yuan.Jaguar Land Rover CEO: We will lay off approximately 4,000 employees globally over the next two years.On September 7th, it was reported that the US military launched attacks on multiple locations in southern Iran on September 1st, affecting a wedding event in Hormozgan province and causing numerous casualties. According to a report by the Washington Post on September 6th, the incident may have been caused by a US bomb that missed its target. A US official stated that the US airstrikes targeted a communications facility in the area. Sources indicated that a small communications tower within the facility was located in a civilian area, only about 134 meters from the wedding site. US warplanes dropped six bombs on the tower, one of which appears to have missed its target. The report also stated that US officials are simultaneously assessing other possible causes of the wedding attack, including the possibility of a falling anti-aircraft missile, but sources and weapons experts consider this highly unlikely.

Gold price prediction: XAU/USD slips to $1,690 on Fed forecasts; US retail sales expected

Daniel Rogers

Sep 15, 2022 11:37

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Gold price (XAU/USD) has adopted a downward trend after falling below Wednesday's minimum of $1,693.67. The precious metal is falling nearing $1,690.00 as bears take control of rising probabilities for a massive Federal Reserve (Fed) rate hike in the near future.

 

Earlier symptoms of weariness have dissipated as a result of Tuesday's higher-than-anticipated US Consumer Price Index (CPI) report. Despite declining gasoline costs, the headline US CPI was announced at 8.3%, which was higher than the 8.2% prediction. The investment community believed that inflation had begun to respond to the Federal Reserve's (Fed) raising interest rates and that a succession of declining price pressures would soon enable the Fed to adopt a 'neutral' stance.

 

However, a US inflation report that exceeded forecasts demonstrates that the road to a neutral monetary policy is far from complete. Moreover, predictions of a one percent rate increase are currently ascendant.

 

In today's session, the US Retail Sales report will be of paramount importance. The economic data estimates do not indicate any improvement in retail demand. This could be the outcome of a fall in consumer confidence in the economy.

 

The gold price has experienced a precipitous decline after demonstrating a textbook-style test and the collapse of a consolidation pattern. On an hourly scale, the consolidation formed within the region of $1,697.12-1,709.62. At $1,698.70, the yellow metal is trading below the 20-period Exponential Moving Average (EMA), which increases the downside filters.