Gold and silver prices increased on Wednesday as US Treasury bond yields dropped after the release of data showing that retail sales growth had stalled in December. The stalled growth suggested a weakening economy, which precedes the release of key jobs data. Precious metals like gold tend to be supported by lower US yields. This
India’s top jewellery maker, Titan Co., is reporting that customers are becoming cautious, with record-high gold prices dampening demand in the world’s second-largest bullion market. Sales growth is now primarily driven by price increases rather than volume, with customer growth remaining “muted,” according to Chief Financial Officer Ashok Kumar Sonthalia in an interview with Bloomberg
Gold prices rose more than 1% on Wednesday as a weaker dollar and falling bond yields boosted sentiment. Gold prices climbed back over $5,100 per ounce, while silver rose more than 4% as investors digested key employment data from the US. Meanwhile, oil prices also jumped more than 2%, with Brent hitting $70 per barrel
Gold and oil prices tumbled on Thursday in a volatile session as traders assess geopolitical tensions and positive economic data. Gold prices slipped more than 2% and silver plunged 7% as stronger US employment data prompts traders to push back expectations for an early Federal Reserve (Fed) interest rate cut. Oil prices plunged by nearly
The operator of outdoor apparel brand Eddie Bauer filed for Chapter 11 bankruptcy protection on Monday, becoming another mid-market retailer to fall prey to the adverse impact of shifting consumer demand, rising costs and persistent uncertainty over trade policy. In court filings in the District of New Jersey, the company said it was exploring a
The cryptocurrency market is having a poor start to the week after an underwhelming performance over the weekend. Bitcoin briefly dropped below the $88k level after losing 1.2% of its value. Ether, the second-largest cryptocurrency by market cap, also dropped below $2,900 as it is down 2% over the weekend. Meanwhile, XRP, the native coin
Ripple, the global blockchain and digital payment company, has announced a strategic partnership with Jeel, the innovation arm of Riyad Bank in Saudi Arabia. Reece Merrick @reece_merrick ·Follow More big news from the Middle East! @Ripple is partnering with @Jeelmovement, the innovation arm of @RiyadBank, to advance Saudi Arabia’s financial future through blockchain innovation 🇸🇦
The cryptocurrency market has slightly recovered from Sunday’s dip, but it is not out of the woods yet. Bitcoin has reclaimed the $88,000 level, while Ether is approaching the $3,000 psychological level. Meanwhile, XRP has failed to surge above the $2.0 psychological level and is now trading at $1.88. Bulls are attempting to regain control
XRP was pushing higher toward the $2.00 level as gains spread across the broader cryptocurrency market. The token traded above $1.90, tracking strength in Bitcoin, which retested levels above $89,200, while Ethereum moved back above $3,000. The rebound was reflected across the market, with all top 10 cryptocurrencies trading in positive territory at the time
Ripple has secured full approval for an Electronic Money Institution licence in Luxembourg, a regulatory milestone that clears the way for the company to scale payments services across the European Union. The authorisation was granted by Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier, after Ripple met all outstanding conditions tied to its