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June 10 – The Democratic Republic of Congo (DRC) Ministry of Health reported on June 9 that as of June 8, the total number of confirmed Ebola cases in the DRC had risen to 598, with 115 deaths. The report indicated that 297 patients are currently in isolation or hospitalized, and the total number of recovered patients has risen to 22. The report stated that the number of confirmed cases is increasing weekly, community transmission continues, and the outbreak could suddenly expand geographically if public health measures are not implemented swiftly. The Africa Centres for Disease Control and Prevention (Africa CDC) announced on June 9 on its social media platform X that it has issued interim guidelines to African Union member states to strengthen Ebola surveillance and cross-border control efforts. The agency stated that due to frequent population movement, close trade relations, and weak border controls, the risk of the outbreak spreading to neighboring countries remains high.June 10th - Oil-themed LOFs (Listed Open-Ended Funds) fluctuated higher, with crude oil LOFs such as E Fund, Harvest Crude Oil LOF, and Southern Crude Oil LOF all rising by over 4%. Other oil LOFs and oil fund LOFs followed suit. The U.S. Central Command stated that it completed a defensive strike against Iran on June 9th in response to the downing of a U.S. Army Apache helicopter the previous day. The Iranian Armed Forces Hatem Anbia Central Headquarters subsequently stated that it had carried out a "fierce strike" against U.S. military bases in the Middle East.June 10th - Chinas PPI rose 0.5% month-on-month in May, a decrease of 1.2 percentage points from the previous month. The main characteristics of this months PPI performance are: First, industrial restructuring and upgrading led to price increases in some sectors. Continued progress in equipment upgrades in the manufacturing sector resulted in a 1.2% month-on-month increase in prices for ferrous metal smelting and rolling. Accelerated electrification, deep integration of artificial intelligence with various fields, and increased demand for computing power also drove up prices in non-ferrous metals, electrical machinery, and computer-related industries. Non-ferrous metal smelting and rolling prices rose 1.1%, with tin smelting and copper smelting prices rising by 4.8% and 3.1% respectively. Computer, communication, and other electronic equipment manufacturing prices rose 0.6%, with integrated circuit packaging and testing series and external storage equipment and components prices rising by 2.9% and 1.9% respectively. Electrical machinery and equipment manufacturing prices rose 0.5%, with optical fiber manufacturing and wire and cable manufacturing prices rising by 8.0% and 1.2% respectively. Second, increased seasonal demand led to price increases in some sectors. Third, fluctuations in international crude oil prices affected domestic related industries, causing prices to shift from rising to falling or a slowdown in the rate of increase.The media affairs advisor to the King of Bahrain stated that Bahrains air defense system successfully repelled the Iranian attack.On June 10th, Dong Lijuan, Chief Statistician of the Urban Division of the National Bureau of Statistics, interpreted the CPI and PPI data for May 2026. On a month-on-month basis, the national CPI decreased by 0.1%, compared to an increase of 0.3% in the previous month, mainly due to changes in energy and service prices. Affected by the transmission of international oil prices, domestic gasoline prices changed from a 12.6% increase in the previous month to a 0.3% decrease, leading to a change in energy prices from a 5.7% increase in the previous month to a 0.1% decrease. The impact on the CPI month-on-month shifted from an upward adjustment of 0.39 percentage points to a downward adjustment of 0.01 percentage points. Affected by the seasonal decline in travel after the May Day holiday, service prices changed from a 0.5% increase in the previous month to a 0.1% decrease, changing the impact on the CPI month-on-month shift from an upward adjustment of 0.22 percentage points to a downward adjustment of 0.03 percentage points. Among them, transportation rental and airfare prices changed from increases of 8.6% and 29.2% in the previous month to decreases of 6.8% and 6.3% respectively, contributing a combined decrease of approximately 0.04 percentage points to the CPI month-on-month. Summer clothing sales drove up apparel prices by 0.6%, while strong demand for AI-related products led to price increases of 1.6% for mobile phones and 1.1% for tablets. These three factors combined contributed approximately 0.05 percentage points to the month-on-month increase in CPI.

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.