Finance Pulse

Real time market news, macroeconomic trends & global financial insights. Breaking down complex markets into actionable pulse checks.

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A Striking Technology Developed in China to Combat Mosquitoes: An “Air Defense System”

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China’s Gold Purchases Hit Three Year High

China’s central bank increased its gold reserves by nearly 20 tons in July, bringing its monthly gold purchases to their highest level since October 2023. According to data from the State Administration of Foreign Exchange (SAFE), the country’s gold reserves rose by 640,000 troy ounces from the previous month to 76.08 million ounces at the end of July.

China’s gold purchases in July therefore reached approximately 19.91 tons, marking the highest monthly level since October 2023.

The People’s Bank of China added 480,000 troy ounces, or approximately 15 tons, of gold to its reserves in June. With the increase in July, China’s total official gold reserves rose to approximately 2,366 tons.

The central bank has now continued its gold purchases for 21 consecutive months.

[Finance Pulse @financalpulse]

Meta fined $567 million in child safety lawsuit

Meta was ordered to pay a $567 million fine for failing to adequately protect children’s mental health on platforms such as Instagram and Facebook and for contributing to broader public health concerns.

The court ordered that part of the $567 million penalty be allocated to a youth mental health fund.

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Citi raises Brent crude oil price forecast for third quarter of 2026

Citigroup (Citi) raised its Brent crude oil price forecast for the third quarter of 2026 from $75 to $80 per barrel.

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Bank of America forecasts three Fed rate hikes before year end.

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Elon Musk's companies, SpaceX and Tesla, will invest an initial $16.8 billion in the Terafab complex to be built in Texas in order to expand artificial intelligence chip manufacturing capacity.

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- BlackRock clients bought $50.34 million worth of Ethereum (ETH).

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Copper eased slightly after hitting its highest level of the year. #COOPER #HG #CU #XCUUSD

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The U.S. House of Representatives has voted to make Daylight Saving Time permanent and end the twice yearly clock changes.

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Siemens posted a 15% year over year increase in net profit, reaching €2.6 billion in the third quarter of fiscal 2026 #SIE

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🚨 BREAKING: An in-depth look at GTA 6's gameplay will premiere on Netflix on August 27 at 10:00 PM!

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SpaceX Shares Tumble After Earnings Report!
- Heavy spending on artificial intelligence overshadowed the first post IPO earnings report of aerospace and AI company SpaceX, sending its shares sharply lower. $SPCX

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Gold, Silver, and Copper Continue to Rise. #XAU #XAG #HG

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The price of gold per ounce could fall to $2,600.
— Deutsche Bank

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Amid the historic slump currently hitting the South Korean stock market,

360,000 people who lost their money in the market have decided to form a political party.

The party is named the "Shareholder People's Party."

[Finance Pulse @financalpulse]

Brent crude futures are down nearly 7%. Have they reached a deal?
#Brent #Oil

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Germany's seasonally adjusted unemployment rate rose to 6.4% in July, while the number of unemployed increased by more than market expectations.

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Alibaba Backs Chinese AI Company with Access to Nvidia Chips

One of China's leading artificial intelligence startups, Moonshot, has reportedly secured a computing power agreement through Alibaba that provides access to approximately 20,000 Nvidia chips for training its AI models. (Bloomberg)