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On February 24, Wang Chuang, Director of the Second Civil Division of the Supreme Peoples Court, stated at a press conference that in 2026, the civil and commercial trial departments of courts nationwide will continue to fully leverage their judicial functions. The next step will be to expedite the issuance of supporting judicial interpretations for the new Company Law and strengthen judicial research and trial guidance for various market entity disputes.Apple (AAPL.O) announced on February 24th that it will move some of its Mac Mini desktop computer production from Asia to the United States, the latest step in its efforts to relocate parts of its vast supply chain back to the US. Apple Chief Operating Officer Sabih Khan stated that the new production plan will begin later this year at a Foxconn factory north of Houston. The factory comprises two main buildings, one currently used by Foxconn to assemble Apples AI servers, and the other currently a large warehouse, which will be converted into a 220,000-square-foot Mac Mini production facility. This measure is part of a commitment Apple (AAPL.O) made last August to invest $600 billion in the US over four years. The Mac Mini is a niche product for Apple; according to Consumer Intelligence Research Partners, it accounted for less than 5% of Apples total global Mac sales last year, and less than 1% of its total sales.On February 24th, according to Qichacha APP, Wuhan Weilai Battery Asset Co., Ltd. recently underwent industrial and commercial registration changes, adding Hefei Jiantou Emerging Industry Equity Investment Fund Partnership (Limited Partnership) and Hefei Haiheng Emerging Industry Equity Investment Fund Partnership (Limited Partnership) as shareholders. Simultaneously, its registered capital increased from approximately RMB 2.239 billion to approximately RMB 2.637 billion. Qichacha information shows that the company was established in 2020, and its business scope includes: operation of electric vehicle charging infrastructure, battery leasing, and development of artificial intelligence application software.Japanese Economy, Trade and Industry Minister Ryomasa Akazawa: If the United States imposes a new 10% tariff, Japan may face additional tariff costs on some goods that exceed the previously agreed 15% rate.February 24th - The Russia-Ukraine conflict has entered its fifth year, and the trilateral peace talks between Ukraine, Russia, and the United States have yet to achieve a breakthrough. Zelenskyy stated that security guarantees remain a thorny issue. Zelenskyy said he has been repeatedly told that Russia will never launch another conflict. "I cannot accept this answer. Im sorry," he said. "These security guarantees certainly have their merits," he said, referring to the commitments currently on the table, "but I want a very concrete answer: if Putin attacks again, what actions are our partners prepared to take? Thats what the Ukrainian people want to hear." Addressing another thorny issue, Zelenskyy stated that Ukraine is willing to freeze the conflict at the current front. However, he also indicated that Ukrainian troops will not withdraw from the eastern Donetsk region, which they still control. "Russia just wants us to withdraw... We cant be that stupid. We are not children. We have gone through so many years of conflict; we cannot simply hand over our country to them," he said.

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.