The gold price (XAU/USD) started the new week on a positive note, hovering around $2,360 on Monday. This upward movement can be attributed to the rising geopolitical tensions in the Middle East, which have led to an increase in safe-haven flows benefiting precious metals. However, the hawkish comments from several US Federal Reserve (Fed) officials
Development
It has been reported that Chinese companies have secured a significant number of bids in Iraq’s oil and gas exploration licensing round. As of now, Chinese companies are the only foreign players to win bids, acquiring licenses for 10 oil and gas fields. This dominance raises questions about the involvement of other international players in
The recent downgrade in inflation forecasts by the central bank has added to the overall dovish tone in monetary policy decisions. The projections indicate that inflation is expected to reach the 2.0% target in Q2 of this year, with a subsequent increase to approximately 2.6% in the second half of the year. However, these figures
Gold price has witnessed a solid increase, surpassing the $2,320 mark against the US Dollar. The price action reveals a bullish trend as it broke a key descending channel with resistance at $2,315. The bulls were able to push the price above the $2,345 level and the 50-hour simple moving average, reaching as high as
Gold prices experienced a significant increase on Friday, marking their strongest week since early April. The surge was driven by disappointing U.S. employment figures, which have heightened expectations for Federal Reserve interest rate cuts in the near future. Spot gold rose by 1.1% to $2,372.16 per ounce, reaching a two-week high. This uptick resulted in
The recent economic data has sent gold prices on the rise, with investors betting on a potential interest rate cut from the Federal Reserve. This week, spot gold gained 0.2% reaching $2,350.87 per ounce, hitting a more than two-week high. The increase in prices this week has marked a 2.2% rise so far. U.S. gold
Recently elected President of Panama, Jose Raul Mulino, has unveiled ambitious plans for the country, signaling a shift towards pro-investment and pro-business policies. His proposals include addressing the impact of climate change on the Panama Canal, boosting tourism through a national railway project, and tackling the country’s debt and fiscal challenges. However, a critical analysis
The price of Western Texas Intermediate (WTI) crude oil edged higher to $78.95 on Thursday following a surprise draw in US crude stocks. The Energy Information Administration (EIA) reported a decline of 1.4 million barrels in crude inventories for the week ending May 3, signaling an increase in demand. This news provided support for WTI
British neobank Monzo recently announced that it has raised an additional $190 million in funding, bringing its total raised this year to $610 million. This funding round saw participation from new investors such as Hedosophia, CapitalG, and Singaporean sovereign wealth fund GIC. The latest funding round values Monzo at around $5.2 billion, surpassing its previous
The USD/JPY exchange rate is currently hovering around 154.784, but intervention risks are looming large. Masato Kanda recently issued a warning, stating that the government would step in if there are any speculative or disorderly movements in the foreign exchange markets. This has sparked concerns among investors, especially after the currency pair experienced a sharp
Billionaire investor Stanley Druckenmiller recently made headlines for his decision to slash his significant investment in chipmaker Nvidia earlier this year. He cited concerns that the rapid growth in artificial intelligence may be overblown in the short term. Druckenmiller revealed his rationale, stating, “We did cut that and a lot of other positions in late
The U.S. stock futures showed minimal changes on Tuesday, following a positive streak in the Dow. The slight increase in Dow futures, along with higher S&P 500 futures and a dip in Nasdaq 100 futures, reflected the optimism among investors. This positive sentiment came on the heels of April’s weaker-than-expected job growth, which raised hopes