China's Energy Consumption Per Person Outstrips Europe, Led by Tech and Renewables
China’s per capita energy use surpassed Europe’s for the first time last year, driven by technology and manufacturing demands. While China increased coal-fired generation, it also led in adding renewable energy capacity, reducing its carbon intensity. This shift highlights a global decarbonization challenge, as declining fossil fuel use in Europe may increase emissions in manufacturing-heavy […]
Tether Launches a New Gold-Backed Dollar-Tracking Token
Tether has introduced “Alloy,” a new gold-backed asset, with its first token, aUSD₮, pegged to the U.S. dollar and backed by Tether Gold. This innovative product aims to provide price stability by combining the stability of the dollar with the value of gold. The system adjusts collateral values in real-time, and liquidates assets if gold’s […]
Thailand Joins China In Driving Gold Bull Market
Thailand Joins China In Driving Gold Bull Market By Jan Nieuwenhuijs of Gainesville Coins Shedding its long-standing price sensitivity to the price of gold, Thailand is currently a gold buyer driving the price up, just like China. Present changes in the global gold market, in which pricing power is shifting East, could be a precursor […]
Yuan Hits Weakest Level Since November as China Loosens Currency Control
China’s central bank set the yuan’s reference rate at its weakest since November, signaling a loosening grip on the currency as the dollar strengthens and traders expect prolonged high US interest rates. The yuan remains under pressure due to capital outflows and mixed economic data, while Chinese banks maintain their benchmark lending rates.
SNB Unexpectedly Cuts Rates Again As Swiss Inflation Continues To Ease
SNB Unexpectedly Cuts Rates Again As Swiss Inflation Continues To Ease The Swiss National Bank unexpectedly cut interest rates on Thursday for the second time this year, pointing to easing price pressures that allowed it to maintain its position as the front-runner in the global policy easing cycle now underway. The Swiss franc, which had […]
Soft U.S. Data Pushes Gold to Two-Week High
Gold prices reached a two-week high on Thursday due to weak U.S. economic data boosting expectations of Fed rate cuts later this year, along with global election uncertainties. Spot gold rose 0.3% to $2,333.69 per ounce, while U.S. gold futures remained steady at $2,347.30. Market expectations of the Fed’s policy shift and persistent geopolitical tensions […]
CBO Raises 2024 US Budget Deficit Forecast by 27% to Nearly $2 Trillion
The Congressional Budget Office (CBO) has increased its 2024 US budget deficit forecast by 27% to nearly $2 trillion, highlighting significant federal borrowing. The deficit is now projected at $1.92 trillion, up from $1.69 trillion in 2023, due to additional spending and student-loan relief measures. The CBO also predicts faster growth and higher inflation, with […]
Gold Prices Rise as Market Eyes Potential Fed Rate Cuts
Gold prices reached a one-week high early Thursday, driven by expectations of a Fed rate cut due to signs of easing inflation and a slowing US economy. Geopolitical risks in Europe also supported gold, although a stabilizing US Dollar and rebounding bond yields kept the price below the 50-day Simple Moving Average.
New York’s Top Court Declines To Hear Trump’s Gag Order Appeal
New York’s Top Court Declines To Hear Trump’s Gag Order Appeal Authored by Jack Phillips via The Epoch Times (emphasis ours), The top court in New York state just declined to hear former President Donald Trump’s appeal of a gag order relating to his falsification of business records case. (Left) Judge Juan M. Merchan on […]
Continuing Jobless Claims Keep Rising, California Initial Claims Crash
Continuing Jobless Claims Keep Rising, California Initial Claims Crash After the prior week’s surge to 10-month highs (on the back of California claims suddenly soaring after Newsom introduced his brilliant $20 min wage fast food gambit), analysts expected a small dip in claims last week… and they were right with initial claims falling from 243k […]