Record Central Bank Gold Purchases, LME Copper Prices Hit New Highs, and Middle East Developments

TechFlow reports on September 8 that, according to Jinshi Data, the People's Bank of China continued to increase its gold holdings in August, setting a new single-month high for this cycle. Huawei unveiled a high-performance chip once again after a six-year hiatus. In international markets, LME copper prices climbed to $14,533, marking an all-time record, while the Japanese yen closed overnight at 154.3, reaching its highest level since February.

On geopolitical and trade fronts, Saudi Aramco's oil facilities were targeted again, and Iran unveiled a new missile model claiming to achieve "active deterrence". The Panama Canal warned it may reduce daily transits from 32 to 27. Additionally, China's Ministry of Foreign Affairs stated that Beijing and Washington are maintaining communications on AI-related matters, while the Ministry of Commerce preliminarily determined that imports of dichlorosilane from Japan involve dumping.