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Zimbabwe’s Gold-Backed ZiG Weakens for First Time Since Debut

Unit sheds nearly 1% of value as it tracks gold price movement ZiG part of wider plan to abandon US dollar use, official says   Zimbabwe’s gold-backed currency the ZiG weakened for the first time since its debut earlier this month.   The currency traded almost 1% weaker at 13.38 per dollar on Thursday compared [...] READ MORE

There is a de-dollarisation happening in global economy – why not bring back ‘gold standard’?

Gold and Bitcoin rocked up with new pricing records in recent weeks. This is more than just coincidental. It’s been a busy month for both Bitcoin fans and gold hawks, with both reaching record highs on the back of soaring inflation, market volatility and high rates. While both assets typically attract quite polarising investors, their [...] READ MORE

Real Estate: Shocking Data

  Discover the latest trends in residential and commercial real estate that could reshape the entire banking sector! Join Alan Hibbard as he breaks down shocking data, revealing potential consequences for homebuyers, renters, and even the economy at large. From plummeting median home prices to collapsing apartment rents, find out how the real estate bubble [...] READ MORE

It’s not just investors watching the Fed: Central bankers across Southeast Asia are trying to time rate cuts to ensure their currencies don’t collapse

As 2024 began, Fed watchers thought it was a matter of when, not if, the U.S. central bank would cut interest rates. Four months into the year, most aren’t quite so optimistic: The Federal Reserve now is signaling that it’s in no rush to cut rates, thanks to a more resilient than expected U.S. economy [...] READ MORE

GDP growth slowed to a 1.6% rate in the first quarter, well below expectations

KEY POINTS Gross domestic product, a broad measure of goods and services produced in the January-through-March period, increased at a 1.6% annualized pace, below the 2.4% estimate. The personal consumption expenditures price index, a key inflation variable for the Federal Reserve, rose at a 3.4% annualized pace for the quarter, its biggest gain in a [...] READ MORE

Gold gains despite higher US Treasury yields, weaker dollar lends support

Production of gold at Novosibirsk precious metals plant (Reuters) - Gold prices firmed on a weaker dollar on Thursday, even as U.S. Treasury yields rose after economic data showed signs of persistent inflation, lowering hopes of the Federal Reserve cutting interest rates anytime soon.   Spot gold rose 0.8% to $2,333.79 per ounce by 2:07 [...] READ MORE

Feature: Turkish investors flock to gold amid Middle East turmoils

This photo taken on April 17, 2024 shows gold ornaments on display in a jewelry store in Istanbul, Türkiye. (Photo by Safar Rajabov/Xinhua) ISTANBUL, April 24 (Xinhua) -- Faruk Mutlu, a Turkish citizen, stepped into a bustling jewelry store in Türkiye's vibrant city of Istanbul. Armed with his savings, he resolved to convert them into [...] READ MORE

Tech Giants Hit in Late Hours After Meta’s Outlook: Markets Wrap

Wall Street traders gearing up for GDP report on Thursday Yen weakens past key 155 level, adding to intervention risk   Big tech sold off in late hours after Meta Platforms Inc.’s disappointing outlook raised concern on whether the industry that has powered the bull market in equities has run too far.   A $250 [...] READ MORE

Investors loved weak yen boosting shares until it went too far

(Bloomberg) — The yen has become stuck around a 34-year low against the dollar after months of declines, increasing concern the currency is becoming a liability for Japan’s economy and stocks. Japan’s depreciating currency has helped the country’s shares climb to records, as many of the biggest companies are manufacturers whose income earned abroad rises [...] READ MORE