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Silver recovers some losses, rises by 1.5%
Silver recovers some losses, rises by 1.5%
Precious metals traded mostly in the green on Friday, recovering somewhat from yesterday’s drop. The price increase was led by silver, which gained over 1.5% as the dollar weakened amid uncertainty about the Federal Reserve’s monetary policy direction. Silver added 1.56% to sell for $30.60 per ounce at 6:55 am ET. Gold increased by 0.54%, […]
Iranian media confirms Raisi’s death
Several Iranian media outlets, including the country’s state television, confirmed the death of 63-year-old President Ebrahim Raisi. The semi-official Mehr news agency, IRNA and the IRIB news agency confirmed the reports of his death. “The helicopter’s passengers, including Ebrahim Raisi, Hossein Amir-Abdollahian, Iran’s East Azerbaijan Province Governor Malek Rahmati, and Ayatollah Mohammad Ali Ale-Hashem, the representative of […]
Silver extends rally, surges 6%
Silver continued to extend gains on Friday, soaring 6% and trading at the highest levels since 2013. The precious metals rally was seemingly fueled by China’s announcement of measures to stabilize the property sector, as well as hopes of the United States Federal Reserve cutting rates soon following the lower-than-expected inflation reading. Silver surged 6% […]
Asia-Pacific trades higher after PBoC’s interest rate decision
Major markets in Asia-Pacific traded higher on Monday following the People’s Bank of China’s interest rate decision. Earlier, it was known that China held its one- and five-year loan prime rates unchanged at 3.45% and 3.95%, respectively. In other news from the region, Thailand’s economy grew by 3.5% in the first quarter of 2024. At […]
Asia trades mixed after Chinese data reports
Stock markets in the Asia-Pacific traded mixed on Friday following the release of major reports on the Chinese economy for April. Retail sales missed estimates, growing by 2.3% year-on-year, while industrial production exceeded expectations, adding 6.7%. The Nikkei 225 dropped 0.42% at 4:15 am CET, the Kospi Composite lost 0.80%, and the S&P/ASX 200 fell […]
Metals rise, silver jumps 3%, gold up 1%
The prices of precious metals continued to advance on Wednesday after the United States reported a weaker-than-expected increase in inflation in April, apparently raising optimism with investors that the Federal Reserve could consider cutting its interest rates in the near future. Silver soared by 3.11% at 1:17 pm ET to sell for $29.50 per ounce. […]
Precious metals rise as US inflation slows
The prices of precious metals gained ground on Wednesday as investors digested the latest inflation digits coming from the United States. The country’s annual inflation slowed in April, falling to 3.4%, which was slightly less than what analysts expected and down from March’s 3.5%. With the cooling in inflation, traders are seemingly hoping that the […]
Europe closes mixed after data batch
Major stock markets in Europe closed mixed on Tuesday following a batch of data that came during the day. German and Spanish inflation in April was confirmed at 2.2% and 3.3%, respectively. British unemployment increased to 4.3% during the first quarter. The economic sentiment in Germany showed progress in May. Investors were also pulled toward […]
US oil inventories reportedly down by 3.1M barrels
Crude oil inventories in the United States decreased by 3.1 million barrels in the week that ended May 10, private data from the American Petroleum Institute (API) allegedly showed on Tuesday. Meanwhile, reserves in Cushing, Oklahoma, allegedly declined by 601,000 barrels. Gasoline stockpiles fell by 1.27 million barrels, while distillate inventories rose by 349,000 barrels, […]
Asia mixed, Hong Kong, S. Korea markets closed for holiday
Major stock indexes traded mixed on Wednesday, in contrast to Wall Street’s gains ahead of the United States Consumer Price Index (CPI) report due later today. Australia’s S&P/ASX 200 gained 0.54% at 3:44 am CET. On the Chinese mainland, the Shanghai Composite and the Shenzhen Composite reduced by 0.14% and 0.24%, respectively and Japan’s Nikkei […]
