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Economics

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UBS Expects Higher Gold Prices as US Dollar Weakens — ‘Gold’s Rally Has Further to Run’

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Global investment bank UBS predicts continued pressure on the U.S. dollar and further gold price increases. “We expect the U.S. dollar to stay under pressure as yield differentials narrow,” UBS explained, adding: “Gold’s rally has further to run.” UBS highlighted that gold has gained over 24% this year, driven by increased investment demand, and expects […]

UBS Expects Higher Gold Prices as US Dollar Weakens — ‘Gold’s Rally Has Further to Run’ Read More »

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Analyst Claims Saudi Arabia Has Covertly Bought 160 Tonnes of Gold Since 2022

Leave a Comment / Bitcoin, Covert purchases, Crypto, Crypto Hacked, Cryptocurrency, Economics, Ethereum, gold, Jan Nieuwenhuijs, Saudi Arabia, U.S. dollar / / / , , , , , , ,

Jan Nieuwenhuijs, a gold market analyst, claims that Saudi Arabia has been covertly buying gold since 2022, trying to get its hands on physical gold due to its neutral and sanction-proof traits. According to his figures, 160 tonnes have been acquired without disclosure, likely to avoid upsetting the U.S. government for these actions. Analyst Alleges

Analyst Claims Saudi Arabia Has Covertly Bought 160 Tonnes of Gold Since 2022 Read More »

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CME Futures and Polymarket Predict Jumbo 50bps Rate Cut – Will the Fed Deliver?

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As the U.S. central bank members prepare for their meeting on Wednesday, just a day ago, the likelihood of a 25-basis point (bps) rate cut versus a 50bps cut was evenly split at 50-50. Fast forward to today, and the odds are now tipping in favor of a larger 50bps reduction. Predictions from betting market

CME Futures and Polymarket Predict Jumbo 50bps Rate Cut – Will the Fed Deliver? Read More »

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Saudi Minister Hints at 86 Million Tonnes of Petroyuan Adoption, States Country Is ‘Open to New Ideas’

Leave a Comment / Bitcoin, China, crude, Crypto, Crypto Hacked, Cryptocurrency, Economics, Ethereum, Petroyuan, Saudi Arabia / / / , , , , , ,

Bandar Alkhorayef, Saudi Minister of Industry and Mineral Resources, stated that while the petroyuan – the use of the Chinese currency to settle oil shipments – was not “substantial to the ministry,” the country was open to new ideas, trying not to mix politics and commerce. This hints at the yuan’s adoption for this purpose.

Saudi Minister Hints at 86 Million Tonnes of Petroyuan Adoption, States Country Is ‘Open to New Ideas’ Read More »

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Fed Rate Decision Looms as Market Predicts 25bps Cut With 87% Probability

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With just six days to go before the U.S. Federal Reserve’s Federal Open Market Committee (FOMC) meeting, the likelihood of a 25 basis points (bps) rate cut is growing stronger by the day. The possibility of a 50bps cut remains slim, though it still holds a 13% chance, as reported by CME’s Fedwatch tool. Market

Fed Rate Decision Looms as Market Predicts 25bps Cut With 87% Probability Read More »

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Over $55 Billion in Settlements Between Russia and Turkey Potentially Disrupted by Recent Western Sanctions

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Trade settlements between Russia and Turkey via bank transfers are now being disrupted due to the new sanctions enacted against Russia. According to Russian media, the U.S. is currently checking all sources of transfers to and from Russia, and bank headquarters are heavily scrutinizing Russian citizens opening bank accounts in the country. Settlements Between Russia

Over $55 Billion in Settlements Between Russia and Turkey Potentially Disrupted by Recent Western Sanctions Read More »

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Recession Concerns Ignite Amid US Economic Slowdown and Market Volatility

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In recent weeks, both economists and technical indicators have hinted that the U.S. may be on the brink of a recession, causing anxiety to ripple through the markets. Meanwhile, over on X, the topic of recession is gaining more traction by the day, with users discussing the likelihood of an economic downturn. Social Media Buzzes

Recession Concerns Ignite Amid US Economic Slowdown and Market Volatility Read More »

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Bilateral Settlement Between China and Russia Worsens Due to New Sanctions

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The payment flow between China and Russia is being disrupted once again due to the enactment of a new package of sanctions that includes 46 Chinese companies allegedly assisting the Russian war effort. This has affected imports of dual-use products, which can be used for both military and civilian purposes, as well as other merchandise.

Bilateral Settlement Between China and Russia Worsens Due to New Sanctions Read More »

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Payments in National Currencies Surge to 92% Among SCO Members

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Payments in national currencies among Shanghai Cooperation Organization (SCO) members have reportedly increased from 40% in 2022 to 92%, signaling a move away from reliance on the U.S. dollar. Similar to the BRICS economic bloc, the SCO, which includes Russia, China, India, and recently added Iran, is encouraging the use of local currencies to strengthen

Payments in National Currencies Surge to 92% Among SCO Members Read More »

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The Fed Under Fire: Elizabeth Warren Pushes for Unprecedented Rate Cut

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As the U.S. Federal Reserve’s Federal Open Market Committee (FOMC) gears up for its meeting on Sept. 18, anticipation is building for a rate cut. Market participants are placing their bets, with expectations leaning toward either a 25 basis points (bps) reduction or a 50bps cut. However, Massachusetts Senator Elizabeth Warren is urging the Fed

The Fed Under Fire: Elizabeth Warren Pushes for Unprecedented Rate Cut Read More »