Floods on Indonesia's holiday island of Bali have killed at least nine this week and affected 600 people, blocking off major roads in the capital and disrupting a busy travel destination, officials said on Wednesday. Continuous heavy rains between Tuesday evening and Wednesday caused the floods and killed five people in Bali's capital Denpasar, Abdul Muhari, the spokesperson of the country's disaster mitigation agency said in a statement. Four more people were killed in the regions of Jembrana, Gianyar, and Badung, Abdul added. Two people were still missing. Out of 600 people affected,...
Gold rose during the North American session on Tuesday with buyers eyeing the $2,700 mark for the first time since November 25. One of the drivers of the yellow metal's rise was expectations that the Federal Reserve (Fed) will cut interest rates at its December meeting. At the time of writing, XAU/USD was trading at $2,694, up 1.32%. US economic data released on the day showed that small businesses have grown optimistic about the economy, according to a survey by the National Federation of Independent Business. However, traders are focused on the release of US inflation figures on the...
Gold prices continued their rally on Tuesday. China's Politburo, promising further economic stimulus to support growth, and the resumption of Gold purchases by the People's Bank of China (PBOC) acted as a boost for the precious metal. Another source of support for Gold was safe-haven flows fueled by uncertainty in the Middle East, following the fall of the Bashar al-Assad regime in Syria, and political deadlock in France and Germany. Finally, rising bets that the Federal Reserve (Fed) will cut interest rates next week pushed US yields to multi-week lows, providing additional support for...
Silver prices followed gold's gains in the European session on Tuesday (10/12), trading near $31.90 and hitting an intraday peak of $32.04. The metal's safe haven status and close correlation with gold have supported its gains. Market uncertainty surrounding geopolitical instability and U.S. economic policy has boosted silver's appeal as a store of value. However, like gold, silver's rally has faced resistance from a stronger U.S. dollar. The People's Bank of China's gold purchases reflect broader global demand trends. Coupled with concerns about potential inflation stemming from Trump's...
Gold prices rose in Europe on Tuesday (10/12), still supported by optimism about a Fed rate cut this month, fiscal stimulus from China and geopolitical tensions in the Middle East. Investors are eyeing the release of the US Consumer Price Index (CPI) on Wednesday and the Producer Price Index (PPI) on Thursday, both of which are expected to have an impact on the Federal Reserve's interest rate cut decision. Traders now see about a 90% chance of a 25 basis point rate cut next week, according to the CME FedWatch tool, up significantly from 73% last week. Source: newsmaker.id
Silver (XAG/USD) prices extended its rally for the second day, trading around $32.00 per troy ounce during Asian hours on Tuesday. The daily chart analysis shows a bullish bias, with the currency pair moving up within an ascending channel pattern. Moreover, the 14-day Relative Strength Index (RSI) remains above the 50 mark, further supporting the bullish sentiment. The XAG/USD pair continues to trade above the nine- and 14-day Exponential Moving Averages (EMAs), strengthening the bullish outlook and signaling a strengthening of the short-term price momentum. This indicates increased buying...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
Poland shot down a drone in its airspace on Wednesday with the support of military aircraft from its NATO allies. This is the first time a member of the Western military alliance is known to have...