Gold Prices Rise for Fifth Week Amid Iran-Israel Tensions
Published: Friday, 19 April 2024 09:17 | 
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Gold prices continued their upward trend, marking a fifth consecutive week of gains as investors sought refuge in the safe-haven asset amid escalating Middle East tensions between Iran and Israel. On Friday, spot gold increased by 0.1% to $2,380.68 per ounce and had earlier reached up to $2,417.59. The overall gain for the week was over 1%. U.S. gold futures also saw a rise of 0.1%, standing at $2,396.60. Tensions heightened following reported explosions in an Iranian city, attributed to an Israeli attack, although Iran downplayed the incident, suggesting no immediate retaliation. Analyst Peter Fertig highlighted that these geopolitical uncertainties are bolstering gold's status as a safe-haven investment.
Powell Signals Delay in Rate Cuts Amid Ongoing Inflation Concerns
Published: Thursday, 18 April 2024 04:37 | |
| Federal Reserve Chair Jerome Powell has indicated that due to persistently high inflation, anticipated interest rate cuts might be postponed to later this year, potentially maintaining higher rates for an extended period. Speaking at the Wilson Center, Powell expressed concerns that recent data do not confirm inflation is under control and hinted it may take longer than previously expected to stabilize. He emphasized that if high inflation continues, the Fed is prepared to keep interest rates elevated as necessary. This stance suggests that the Fed might implement fewer rate reductions than the three quarter-point cuts previously forecasted in March.
The REAL Reason the South Lost the Civil War
Published: Thursday, 18 April 2024 02:34 | |
| As the Union and Confederate armies faced off during the Civil War, an equally fierce economic battle waged behind the scenes, ultimately deciding the war's fate.
Has the Housing Market Crash Arrived?
Published: Thursday, 18 April 2024 02:11 | |
| The economy might be booming, but housing is in a recession: Top real estate CEO says he’s never seen anything like it in 20 years...
Silver Market Faces Major Deficit as Industrial Demand Hits Record Highs
Published: Thursday, 18 April 2024 02:02 | |
| The Silver Institute's annual World Silver Survey, conducted by UK-based Metals Focus, projects the silver market it to experience its second-largest deficit in two decades in 2024. This forecast is driven by a record 9% increase in industrial demand, expected to reach 710.9 million ounces, with the solar sector playing a crucial role. Demand for silver in photovoltaic (PV) solar panels alone is anticipated to surge by 20% to 232 million ounces. As a result, robust demand continues to surpass supply, supporting high silver prices and leading to a further depletion of above-ground stocks.