link1s.site

Gold reaction to employment data and geopolitical events

The June US Nonfarm Payrolls (NFP) data showed an increase of 206,000 jobs, exceeding expectations.

Political uncertainty and the People's Bank of China's pause in gold purchases influence gold market dynamics.

Recent technical developments in the gold market, including breaking the triangle formation and subsequent rally, indicate the potential for higher prices.

Despite a bullish outlook, further consolidation is possible before a significant surge.

The recent US Nonfarm Payrolls (NFP) data revealed a rise of 206,000 jobs in June, surpassing the market expectation of 190,000, despite a downward revision from 272,000 to 218,000 for May. The unemployment rate increased to 4.1% and the wage inflation declined to 3.9% year-over-year. These mixed employment signals have increased the likelihood of a rate cut by the Federal Reserve in September. Additionally, political developments in France, where the left-wing New Popular Front led by Jean-Luc Mélenchon is poised to win a significant number of seats, add to the global economic uncertainty. Meanwhile, the People's Bank of China (PBoC) has paused its gold purchasing program, potentially waiting for a further price pullback. These factors collectively influence gold prices, providing a complex backdrop where the prospect of lower interest rates, political uncertainty, and central bank purchasing strategies are likely to drive market dynamics and investor behaviour in the coming months.

Bullish Trends in Gold Prices

The announcement of the NFP data has dropped the US Dollar Index and boosted gold prices. Since the gold market broke the triangle formation on Wednesday and formed an inside candle on Thursday, the break above Thursday's high on Friday initiated a strong rally, closing the price at higher levels. The red line was the first resistance of this breakout where the gold closed the last week. A clear break above this level may initiate another surge higher. The breakout of the triangle suggests higher prices, but the risk environment remains, as June was a correction month. It looks like the price is preparing for higher levels, but the possibility of consolidation before the surge cannot be ignored.

Bottom line

In conclusion, the increase in US employment, despite mixed signals in wage inflation and unemployment, has increased the likelihood of a Federal Reserve rate cut, boosting gold prices while weakening the US Dollar Index. Political uncertainties in France and the pause in gold purchases by the People's Bank of China further contribute to the complex economic landscape, indicating potential volatility ahead. The gold market's recent technical developments, including breaking the triangle formation and the subsequent rally, suggest readiness for higher prices. However, the possibility of consolidation before another significant surge remains, necessitating careful observation by investors as the market navigates these multifaceted influences.

Exclusive: Japan must strengthen NATO ties to safeguard global peace, PM says
TOKYO, July 9 (Reuters) - Russia's deepening military cooperation with North Korea has underlined the need for Japan to forge closer ties with NATO as regional security threats become increasingly intertwined, Prime Minister Fumio Kishida told Reuters. In written remarks ahead of his attendance at a NATO summit in Washington DC this week, Kishida also signalled concern over Beijing's alleged role in aiding Moscow's two-year-old war in Ukraine, although he did not name China. "The securities of the Euro-Atlantic and the Indo-Pacific are inseparable, and Russia’s aggression against Ukraine and its deepened military cooperation with North Korea are strong reminders of that," Kishida said. "Japan is determined to strengthen its cooperation with NATO and its partners," he added. The world, the Japanese leader said, should not tolerate attempts by some countries to disrupt the established international order and reiterated a warning that Ukraine today could be East Asia tomorrow. He also urged cooperation to confront new security threats that transcend geographical boundaries, such as cyber-attacks and conflicts in space. The U.S. and its allies have accused Pyongyang of providing ballistic missiles and artillery shells that Russia has used in its war in Ukraine and say they fear Moscow in return could provide support for North Korea's nuclear missile development. Washington has also said China is supplying droneWithout naming China, Kishida told Reuters "some countries" have allegedly transferred dual-use civilian-military goods to Russia which has served "as a lifeline" for its Ukraine war. "It is necessary to grapple with such situations in a multi-faceted and strategic manner, taking a panoramic view that considers the full range of international actors fuelling Russia’s attempt to change the status quo by force," he said. "The geographical boundary of 'Euro-Atlantic' or 'Indo-Pacific' is no longer relevant in safeguarding global peace and security. Japan and Indo-Pacific partners can play a great role for NATO allies from this perspective." Constrained by decades of pacifism, Tokyo has been reluctant to supply lethal aid to Ukraine. It has, however, provided financial aid to Kyiv, spearheaded efforts to prepare for its post-war reconstruction, and contributed to NATO’s fund to provide Ukraine with non-lethal equipment such as anti-drone detection systems. Tokyo has also repeatedly warned about the risks of a similar conflict emerging in East Asia, where China has been taking an increasingly muscular stance towards its territorial claims including the democratic island of Taiwan. "This summit is a critical opportunity for Japan, the U.S., and the other NATO allies to confront the ongoing challenges against the international order and to reaffirm values and principles that have shaped global peace and prosperity," he said. There may be limits, however, over how far NATO members are prepared to go in forging closer ties in Asia. A plan that surfaced last year for NATO to open a liaison office in Japan, its first in Asia, was blocked by France and criticised by China. and missile technology, satellite imagery and machine tools to Russia, items which fall short of lethal assistance but are helping Moscow build its military to sustain the Ukraine war. Beijing has said it has not provided any weaponry to any party.
Adult Film Star Jesse Jane's Cause of Death Revealed
New details about Jesse Jane’s death have emerged. More than six months after the former adult film star was found dead alongside her boyfriend Brett Hasenmueller in her Moore, Oklahoma, home from a suspected overdose, authorities confirmed what led to the tragedy. Jane and Hasenmueller reportedly died of an accidental fentanyl and cocaine overdose according to TMZ, citing the Oklahoma City Medical Examiner’s Office. E! News has reached out to the Examiner’s Office for comment but had not yet heard back. In late January, local outlet KFOR reported that Moore Police found Jane and Hasemueller’s bodies while performing a wellness check after the couple had not been heard from in several days. Moore PD's Lt. Francisco Franco told The New York Times at the time that it was believed Jane died from a drug overdose, but that both deaths remained under investigation. Jane, who was 43 at the time of her passing, acted in a number of adult films starting in 2003 before transitioning to other projects, including an appearance in Baywatch: Hawaiian Wedding and 2004's Starsky and Hutch, as well as season two of Entourage. Pretty Pastel Please, YouTuber, Instagram By 2007, Jane had officially retired from the adult film industry, pivoting into making her own line of sex toys. At the time of her death, BSG Public Relations President Brian Gross shared in a statement to E! News, "Jesse Jane was a vivacious person who had an absolute and ultimate love for life. During her time in the adult industry, of which I was able to spend wonderful moments with her, she was an incredible professional who cheered everyone on and brought sunshine to every film set she worked on." "There is not one person in the adult industry who didn't spend time with her, whether onset or in a social setting, that she didn't make smile, laugh or both. She would light up a room as soon as she walked in," he continued, "I will personally miss her very much for the reasons above. Her smile was everything."
Diphtheria outbreak in Vietnam kills one person
On the afternoon of July 8, local time, the Vietnamese Ministry of Health issued a notice stating that an 18-year-old girl in the country died of diphtheria. The Ministry of Health asked Nghe An Province and Bac Giang Province to take urgent action to control the epidemic. Diphtheria is an acute respiratory infectious disease caused by Corynebacterium diphtheriae, which is mainly transmitted through droplets and can also be indirectly transmitted by contact with objects containing Corynebacterium diphtheriae. Severe cases may show symptoms of poisoning throughout the body, complicated by myocarditis and peripheral nerve paralysis.
Musk is the billionaire who lost the most money in the first half of 2024: $5 billion a month
At the beginning of this year, Elon Musk had a fortune of $251 billion and could almost single-handedly solve world hunger. However, Tesla's stagnant sales, the endless struggle to buy Twitter, and the volatility of Tesla's stock price meant he lost a lot of money this year. According to Forbes, Musk is the billionaire with the most losses so far this year, with his wealth shrinking at a rate of about $5 billion a month. According to the website, his wealth shrank by more than 10% from the end of 2023 to June 28, 2024. As the website explains: Between December 31, 2023, and June 28, the last day of regular stock market trading for the first half of the year, Musk's net worth fell from $251.3 billion to $221.4 billion, a bigger drop than any other billionaire tracked by Forbes, but Musk remains the richest person on the planet. The main reason for the dip in Musk's pocketbook is that a Delaware judge in January canceled Musk's then-record Tesla compensation package worth $51 billion, which led Forbes to cut the value of the equity award by 50 percent because of uncertainty about whether Musk would receive those stock options. Excluding that bonus, Musk's wealth has remained volatile over the past six months, with the value of his 13 percent stake in Tesla shrinking by about $20 billion as falling profits and car deliveries sent the stock down 20 percent. But that was partly offset by the growth of Musk's stake in his generative artificial intelligence startup xAI to $14.4 billion (Musk also has a roughly $75 billion stake in private aerospace company SpaceX, a $7 billion stake in social media company X, And smaller stakes in other companies, such as brain experimentation startup Neuralink).
Kris Jenner Shares Plans to Remove Ovaries After Tumor Diagnosis
Kris Jenner is opening up about her health. The reality star shared plans to have her ovaries surgically removed after she was diagnosed with a tumor on one of the organs. “I went to the doctor and I had my scan," she tearfully told daughters Kim Kardashian, Khloe Kardashian and Kendall Jenner on the July 4 episode of The Kardashians. "They found a cyst.” Kris continued, "They said I gotta have my ovaries taken out." While the 68-year-old—who is also mom to kids Kourtney Kardashian, Rob Kardashian and Kylie Jenner—wasn't nervous about the procedure, she did feel very emotional over having to part with her ovaries because, as she put it, "that’s where all my kids were conceived." "It’s also a thing about getting older," Kris noted. "It’s a sign of 'we’re done with this part of your life.' It’s a whole chapter that’s just closed.” She added in a separate confessional, “People often ask me what is the best job you’ve ever had, and I always say mom. The biggest blessing in my life was being able to give birth to six beautiful kids.” And in true Kardashian fashion, Kris' family quickly rallied behind her. After Kourtney called in to check on Kris, the Poosh founder said in a confessional, "I totally understand how my mom is feeling because I would feel the same way." "It’s your womanly power," Kourtney continued. "It doesn’t mean it’s taking away who she is or what she’s experienced, but I would feel this sentimental feeling of what it’s created.” Likewise, Kim empathized with Kris, saying that she feels "really sad for her." "To have a surgery and remove your ovaries is a really big deal," the SKIMS mogul shared. "I couldn’t even imagine being in that situation.” Kris' longtime boyfriend Corey Gamble also showed his support, surprising the momager with a special gift to “help your energy."