Gold remains stable after hitting a record high, fueled by economic concerns and geopolitical tensions. Investors await Fed updates.
Gold prices remained stable on Monday following a historic surge last week, driven by global geopolitical tensions and economic uncertainty. Spot gold was flat at $2,983.09 per ounce as of 0518 GMT, after hitting an all-time high of $3,004.86 on Friday. Meanwhile, U.S. gold futures dipped slightly by 0.3% to $2,992.30.
Analysts attribute gold’s strong momentum to stagflation concerns, heightened by inflationary pressures and fears of a potential U.S. recession. Kelvin Wong, senior market analyst at OANDA, noted that gold’s short-term outlook remains bullish, with resistance levels at $3,016 and $3,030.
Market uncertainty has been fuelled by concerns over U.S. tariffs, which have impacted consumer sentiment, alongside ongoing geopolitical tensions in the Middle East and Ukraine. However, a potential breakthrough in diplomatic efforts emerged as Donald Trump announced plans to discuss a ceasefire with Russian President Vladimir Putin.
Investors are now focused on the U.S. Federal Reserve’s upcoming monetary policy meeting, with Chair Jerome Powell’s comments on inflation and trade policies expected to influence gold’s trajectory. Gold has already gained 14% in 2025, reinforcing its status as a hedge against economic instability.
Apple’s iPhone, along with other foreign-branded smartphones, saw a sharp 21% decline in shipments in China this January. Economic shifts and rising competition from local brands are reshaping the market, putting pressure on international players like Apple.
Reliance Jio will offer free IPL streaming to users recharging with ₹299 or more. The matches can be streamed on the new JioHotstar platform. The plan also includes a 50-day trial of Jio's broadband services, aiming to boost home internet dominance.
Inditex, parent company of Zara, reported a 4% sales growth in Q1 2025, down from 11% last year, amid concerns about weakening consumer demand. Despite this, the company plans a 9% dividend increase and €1.8 billion investment in growth, with expansion into new markets.
Spotify paid a record $10B in royalties in 2024, with 1,500+ artists earning over $1M. Despite growth, it faced legal challenges over songwriter payments, though a U.S. lawsuit was dismissed. Streaming's impact on artist revenue remains a key industry debate.
BioNTech forecasts a revenue decline for 2025, expecting between 1.7 billion and 2.2 billion euros, down from 2.75 billion euros last year. This drop is due to Pfizer write-downs and stable vaccination rates. BioNTech also plans significant job cuts and new hires.
Chinese search engine giant Baidu has launched two updated AI models—Ernie 4.5 and Ernie X1—in a bid to bolster its competitive edge in the artificial intelligence market.
China has defended its recent military exercises near Taiwan as a punitive response to what it calls the island’s president’s continued promotion of separatism.
A suspected act of sabotage caused an oil spill near Oslo, with 50-60 tons leaking from a disused transformer station, Norwegian media reported. Authorities have contained much of the spill, but some oil has reached the Sandvikselva River, prompting ongoing cleanup efforts.
The Council of the EU on Monday approved an extra €3.5 billion (approximately $3.8 billion) in financial support for Ukraine, consisting of non-repayable grants and loans, according to a press release from the European Council.
A large number of countries are prepared to deploy peacekeeping troops to Ukraine if a peace deal with Russia is reached, a spokesperson for British Prime Minister Keir Starmer said. More than 30 nations are expected to join the "coalition of the willing" to support Ukraine.
The inside of a Herculaneum delicate & ancient scroll, unseen for nearly 2,000 years, has been revealed using Artificial Intelligence.
World leaders welcomed the 30-day ceasefire proposal that Ukraine has agreed to, calling it a step toward ending the conflict with Russia.
President Donald Trump has vowed to respond to the European Union's counter-tariffs, escalating tensions over the U.S. steel and aluminum duties that have sparked a trade dispute between the two economic powers.
Regarding the Armenia-Azerbaijan process, we cannot forget the years of occupation, and we will not forget them, President Ilham Aliyev said in his speech at the opening ceremony of the 12th Global Baku Forum.
In Tuesday’s closely watched parliamentary election, Greenland’s pro-business opposition Demokraatit party took a commanding lead after over 90% of the ballots were counted.
Uzbekistan has announced the sale of state shares in three major automotive companies as part of its ongoing privatization efforts.
The National Bank of Kazakhstan is launching the Gold Coin project, a digital version of an investment coin, beginning on March 17, 2025.
Apple’s iPhone, along with other foreign-branded smartphones, saw a sharp 21% decline in shipments in China this January. Economic shifts and rising competition from local brands are reshaping the market, putting pressure on international players like Apple.
Uludağ, one of Türkiye’s oldest and largest soft drink brands, will receive a €25 million loan from the European Bank for Reconstruction and Development (EBRD) to finance investments in production lines and renewable energy capacity.
Reliance Jio will offer free IPL streaming to users recharging with ₹299 or more. The matches can be streamed on the new JioHotstar platform. The plan also includes a 50-day trial of Jio's broadband services, aiming to boost home internet dominance.
Chinese search engine giant Baidu has launched two updated AI models—Ernie 4.5 and Ernie X1—in a bid to bolster its competitive edge in the artificial intelligence market.
China has defended its recent military exercises near Taiwan as a punitive response to what it calls the island’s president’s continued promotion of separatism.
A suspected act of sabotage caused an oil spill near Oslo, with 50-60 tons leaking from a disused transformer station, Norwegian media reported. Authorities have contained much of the spill, but some oil has reached the Sandvikselva River, prompting ongoing cleanup efforts.
The Council of the EU on Monday approved an extra €3.5 billion (approximately $3.8 billion) in financial support for Ukraine, consisting of non-repayable grants and loans, according to a press release from the European Council.
A large number of countries are prepared to deploy peacekeeping troops to Ukraine if a peace deal with Russia is reached, a spokesperson for British Prime Minister Keir Starmer said. More than 30 nations are expected to join the "coalition of the willing" to support Ukraine.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment