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.
The U.S. military announced that it has completed a new wave of strikes against Iranian military targets under U.S. President Donald Trump's orders. T...
Aid organisations in Afghanistan are struggling to keep women in work as Taliban restrictions force them to spend more on male guardians, transport an...
The Trump administration is pressing ahead with new immigration rules that will impose fixed time limits on visas for foreign students, cultural excha...
AI-powered shopping assistant Phia has been accused of using "cookie stuffing" to claim affiliate commissions for purchases it did not generate, according to a Bloomberg investigation. The company says the issue has now been resolved.
China's technology sector is producing billion-dollar startups at its fastest pace in nearly five years, with artificial intelligence and robotics driving a new wave of investment that is reshaping the country's innovation economy.
China has approved fast-fashion retailer Shein's long-awaited initial public offering (IPO) in Hong Kong, clearing the way for the company to pursue a stock market listing after previous attempts in the U.S. and London failed.
Pakistan is seeking fresh Turkish investment after Prime Minister Shehbaz Sharif and President Recep Tayyip Erdoğan agreed to deepen economic cooperation and reaffirmed their commitment to increase bilateral trade to $5 billion.
U.S. President Donald Trump announced the reimposition of a U.S. naval blockade on all Iranian ports and warned that power plants and bridges could be targeted next week unless Tehran returns to negotiations.
The United States carried out a third consecutive night of airstrikes against Iran, targeting military capabilities around the Strait of Hormuz as Donald Trump announced the reinstatement of a blockade on Iranian shipping and proposed a 20% fee on cargo passing through the strategic waterway.
The U.S. military announced that it has completed a new wave of strikes against Iranian military targets under U.S. President Donald Trump's orders. The operation targeted command centres, air defence systems, missile and drone facilities, and coastal surveillance sites across multiple locations.
The death toll from the fire at a live music pub in Bangkok has climbed to 32 after two more victims died from their injuries, according to Thailand's Police Hospital.
Ukraine and Russia exchanged fresh attacks on Tuesday, with Kyiv targeting shipping and energy infrastructure inside Russia while Moscow launched another large-scale missile and drone assault on Ukrainian cities.
AI-powered shopping assistant Phia has been accused of using "cookie stuffing" to claim affiliate commissions for purchases it did not generate, according to a Bloomberg investigation. The company says the issue has now been resolved.
The UK government has nationalised British Steel, taking full ownership of the country's only primary steelmaker from its Chinese owners to safeguard the future of the UK's steel industry.
Saudi Arabia is moving crude through the Red Sea port of Yanbu at close to maximum capacity this week, as tensions with Yemen's Houthis add to broader concerns over Gulf shipping routes, according to data and industry sources cited by Reuters.
A senior U.S. commerce official told lawmakers on Tuesday that only a small number of Nvidia's H200 artificial intelligence chips have been shipped to China so far, as scrutiny grows over Washington's export controls on advanced technology.
Oil prices rose nearly 3% on Tuesday to their highest level in four weeks as the United States and Iran stepped up attacks around the Strait of Hormuz, adding fresh uncertainty to global energy supplies.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment