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South Korea’s Reserve Bank Holds Back AmidGlobal Rush

Gold bars (Courtesy of Getty Images) South Korea has remained muted to a new gold rush fueled by various central banks across the world gobbling up the precious metal, raising concerns that Asia’s fourth-largest economy is one of a handful of nations missing out on the great profit-making opportunity.   According to the World Gold [...] READ MORE

Ukrainian Drones Strike Deep, Hitting Major Russian OilRefinery

Summary Ukraine launches mass drone attack Fire at NORSI refinery, drone downed near Kirishi NORSI is badly damaged - sources Russia says it repels cross-border attack by Ukrainian proxies   MOSCOW, March 12 (Reuters) - Ukraine pounded targets in Russia on Tuesday with dozens of drones and rockets in an attack that inflicted serious damage [...] READ MORE

Economists Question the Recession-Predicting Power of theInverted Yield Curve

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 28, 2024. BENGALURU, March 12 (Reuters) - A key indicator of an oncoming recession implied by the U.S. bond market is no longer reliable, according to nearly two-thirds of strategists polled by Reuters.   A persistent [...] READ MORE

BRICS Expansion and De-Dollarization Efforts Challenge USand EU Economic Dominance

Source: iStock The BRICS bloc is ready to continue its expansion in 2024. Successfully inducting multiple new nations in January, the bloc is expected to invite more countries to join sometime this year. With more countries showing interest in BRICS and its missions, the United States and the European Union are facing a new developing [...] READ MORE

The Latest Inflation Breakdown

Americans plagued by surging prices over the past 20 months continue to face strain as the cost of meeting everyday necessities remains stubbornly high.   The Labor Department said Tuesday that the Consumer Price Index (CPI), a broad measure of the price of everyday goods, including groceries, gasoline, and rent, rose 0.4% in February from [...] READ MORE

Gold’s Rally Leaves Some Market ExpertsBaffled

The price of gold has surged 7 per cent in just over a week to hit record highs, leaving longtime market watchers struggling to explain what has been one of the yellow metal’s most curious rallies.   The sudden price move has lifted the haven asset above its previous peak reached in December to hit [...] READ MORE

Record Inflows Catapult Bitcoin Near All-Time Highs

(Bloomberg) -- Bitcoin rose to a record for the third time in five days before traders appeared to take the opportunity to realize some of the recent gains.   The original cryptocurrency reached an all-time peak of $72,968 on Tuesday, before pulling back below $70,000. The fresh highs were reached in the wake of a [...] READ MORE

Gold Retreats from All-Time Highs as Traders Eye UpcomingU.S. Inflation Data

Investing.com-- Gold prices fell in Asian trade on Tuesday, retreating from record highs as traders lock-in some profits ahead of key U.S. inflation data that is widely expected to factor into the path of interest rates.   Growing bets on interest rate cuts by as soon as June, coupled with increased safe haven demand, saw [...] READ MORE

CPI Up 0.4% in February, a 3.2% Increase From a YearAgo

KEY POINTS The consumer price index, a broad measure of goods and services costs, increased 0.4% for the month and 3.2% from a year ago. The monthly measure was in line with expectations while the 12-month reading was slightly higher. The core CPI rose 0.4% on the month and was up 3.8% on the year. [...] READ MORE