Gold surged to record highs, defying the strong dollar, while global stocks dipped as investors remained cautious ahead of the U.S. election. With rising U.S. Treasury yields and potential market volatility, attention turns to the economic impact of election outcomes.
Gold prices reached record highs on Wednesday, defying the dollar's strength, which has pressured both the yen and the euro. Meanwhile, global stock markets dipped as investors hesitated to make significant moves ahead of the upcoming U.S. election in two weeks.
Recent U.S. economic data has suggested continued growth, leading investors to reconsider the extent to which the Federal Reserve may cut interest rates.
U.S. Treasuries have faced declines, resulting in three-month high yields, driving the dollar to multi-month peaks against the euro, pound, and yen, which is now trading at around 150 per dollar, prompting caution from Japanese officials.
Despite the slight downturn in stocks, the market remains close to record highs, indicating that investors are currently optimistic about the economy and corporate earnings. The MSCI All-World Index was down 0.1%, mirroring similar declines in Europe and U.S. futures.
With the election just weeks away, market volatility is anticipated. Betting odds have recently shifted in favor of Donald Trump over Kamala Harris, though opinion polls indicate a tightly contested race. Investors are particularly attentive to the potential impact of another Trump presidency, especially his proposed tariffs and immigration restrictions, which could drive inflation higher.
Gold remains stable after hitting a record high, fueled by economic concerns and geopolitical tensions. Investors await Fed updates.
The State Oil Fund of the Azerbaijan Republic (SOFAZ) will continue buying gold in 2025, aiming to increase its assets to 170 tonnes by April-May.
Europe's most expensive Christmas tree, made entirely of gold coins and valued at over €5.2 million, is dazzling visitors at Munich’s Goldhaus.
Kazakhstan ranks seventh in expanding gold reserves, boosting holdings by 151 tons from 2013 to 2023.
The White House confirmed on Tuesday that President Donald Trump will impose a new wave of tariffs on Wednesday, escalating fears of a deepening global trade war. The announcement, set for 4 p.m. ET in the Rose Garden, marks the culmination of weeks of warnings and speculation.
Australian Prime Minister Anthony Albanese and opposition leader Peter Dutton have both pledged to defend the country’s national interests as the United States signals possible tariffs targeting Australian beef exports.
A senior Russian official is expected to arrive in Washington this week for direct talks with the Trump administration, a source familiar with the plan confirmed.
From Wednesday, European visitors to Britain will need to purchase an Electronic Travel Authorisation (ETA) before arriving, as the UK implements new pre-entry screening measures to tighten border controls.
U.S. Defense Secretary Pete Hegseth has ordered the deployment of additional warplanes to reinforce American naval assets in the Middle East, the Pentagon confirmed on Tuesday. The move follows a renewed bombing campaign in Yemen and rising friction with Iran.
Aid groups in Myanmar’s worst-hit areas urgently need shelter, food, and water after a devastating 7.7 magnitude earthquake killed over 2,700 people. Rescue efforts face challenges due to ongoing civil war, damaged infrastructure, and restricted aid access, with the toll expected to rise.
Russian forces carried out a drone attack on Ukraine’s second-largest city, Kharkiv, late Wednesday, injuring at least twenty one people and causing structural damage, according to Ukrainian officials.
French far-right leader Marine Le Pen was banned from running for public office for five years after being convicted of embezzlement, ruling her out of the 2027 presidential race. She received a four-year prison sentence, with two years suspended, and a €100,000 fine. Le Pen plans to appeal.
Apple marked its 49th anniversary by reaching a market capitalization of $3.3 trillion. Despite recent tech stock volatility, Apple's shares surged 28% in 2024.
The Armenian armed forces attempted three reconnaissance drone flights over Azerbaijan Army positions near Gerenzur, but all were successfully intercepted. Meanwhile, Armenian units repeatedly fired on Azerbaijani positions from multiple regions, escalating tensions in the area.
President Donald Trump said a deal with TikTok's Chinese parent ByteDance to sell the short video app used by 170 million Americans would be struck before a deadline on Saturday.
Paul Marchant has resigned as CEO of Primark with immediate effect after admitting to an "error of judgment" in a social interaction last year. Parent company AB Foods expressed disappointment, citing the importance of integrity. Finance director Eoin Tonge will serve as interim CEO.
Apple marked its 49th anniversary by reaching a market capitalization of $3.3 trillion. Despite recent tech stock volatility, Apple's shares surged 28% in 2024.
The International Monetary Fund (IMF) Executive Board has completed the Seventh Review of the Extended Arrangement under the Extended Fund Facility (EFF) for Ukraine, enabling a disbursement of about $0.4 billion, which will be allocated for budget support.
Elon Musk’s xAI has acquired his social media platform X in a $33 billion all-stock deal.
The White House confirmed on Tuesday that President Donald Trump will impose a new wave of tariffs on Wednesday, escalating fears of a deepening global trade war. The announcement, set for 4 p.m. ET in the Rose Garden, marks the culmination of weeks of warnings and speculation.
Australian Prime Minister Anthony Albanese and opposition leader Peter Dutton have both pledged to defend the country’s national interests as the United States signals possible tariffs targeting Australian beef exports.
A senior Russian official is expected to arrive in Washington this week for direct talks with the Trump administration, a source familiar with the plan confirmed.
From Wednesday, European visitors to Britain will need to purchase an Electronic Travel Authorisation (ETA) before arriving, as the UK implements new pre-entry screening measures to tighten border controls.
U.S. Defense Secretary Pete Hegseth has ordered the deployment of additional warplanes to reinforce American naval assets in the Middle East, the Pentagon confirmed on Tuesday. The move follows a renewed bombing campaign in Yemen and rising friction with Iran.
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