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Apple futures contracts fell 2.00% intraday, currently trading at 6079.00 yuan/ton.Bank of England Governor Bailey will participate in a fireside chat in ten minutes.The New Taiwan dollar fell to 32.468 against the US dollar, its lowest level since early August.On October 16th, the Hong Kong Low-Altitude Economy Development Working Group, in collaboration with industry stakeholders, explored the establishment of a demonstration zone for exporting low-altitude economy products. This initiative aims to provide one-stop supporting services for low-altitude economy import and export trade, further supporting the overseas expansion of Chinas low-altitude economy enterprises. Furthermore, China ranks among the worlds leaders in low-altitude economy development, particularly in drone manufacturing, the complete industrial chain, and application scenarios. Given the current lack of international consensus on unified low-altitude technology standards, Hong Kong, as an international aviation hub and international innovation and technology center, possesses superior conditions to establish a low-altitude economy standard framework that aligns with international standards and connects with mainland China. To this end, the Hong Kong SAR Government has been validating various low-altitude economy technologies through the Low-Altitude Economy Regulatory Sandbox and "Regulatory Sandbox X" to improve local low-altitude economy standards. The Hong Kong SAR Government actively promotes enhanced cooperation with the mainland (especially the Guangdong-Hong Kong-Macao Greater Bay Area) and overseas jurisdictions, supporting the alignment of local low-altitude standards with those of the mainland and international standards.October 16th - Hong Kongs first five-year plan proposes to build a low-altitude innovation application hub in the Asia-Pacific region. The Hong Kong Low-Altitude Economy Development Working Group is working diligently to formulate the "Action Plan for the Development of the Low-Altitude Economy," improving the regulatory framework, standards development, and infrastructure construction. It is understood that related actions include close cooperation with the Mainland to expedite cross-border low-altitude logistics test flights and gradually expand the low-altitude cross-border logistics network in the Greater Bay Area; promoting research on low-altitude infrastructure technologies; and developing a smart low-altitude traffic management system. Currently, the Hong Kong SAR Government has commenced drafting work and will continue to solicit opinions, with the draft expected to be completed this year.

Gold Price Prediction: XAU/USD aims to hold over $1,800 as market sentiment surges

Daniel Rogers

Dec 27, 2022 10:53

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Gold price (XAU/USD) has surpassed Friday's peak around $1,804.00 and is anticipated to change its auction profile over the psychological resistance of $1,800.00 during the Tokyo session. The precious metal is anticipated to maintain its upward pace as market players' risk appetite improves.

 

The risk profile has turned positive as investors anticipate a future fall in U.S. inflation, driven by a reduction in the Personal Consumption Expenditures (PCE) Price Index. A fall in consumption expenditure represents a reduction in household demand, which will be compensated by a decline in the pricing of products and services. This resulted in the S&P 500's rebound on Friday. In addition, a decrease in the demand for durable goods has bolstered prospects of a future reduction in inflation.

 

In the meantime, the US Dollar Index (DXY) has dropped abruptly to about 103.75 after struggling to surpass the immediate resistance level of 104.00 as a slowdown in family spending may compel the Federal Reserve (Fed) to reduce the upcoming peak in interest rates. Yields on 10-year US Treasuries have decreased to about 3.73 percent.

 

The gold price has rallied after testing the lower boundary of the four-hour Rising Channel chart pattern. The upper section of the aforementioned chart pattern is drawn from the high of around $1,786.55 on November 15, while the lower portion is drawn from the low of approximately $1,740.00 on November 29. The 100-period Exponential Moving Average (EMA) at approximately $1,791.00 has served as a significant support for the Gold price.