Your cart is currently empty!
Gold CAD: $3,218.11
Silver CAD: $39.34
Silver CAD: $39.34
Gold Soars Amidst Middle Eastern Conflict | Golden Times
By
GOLDEN TIMES
GOLD SILVER MART CORP.
Issue #22 April 7, 2024
FINANCIAL UPDATES
- U.S. unemployment rate fell to 3.8% from 3.9% last month
- Unemployment rate in Canada jumped to 6.1% in March, from 5.8% last month
- Markets are now pricing a 64% probability of a June rate cut
- Elon Musk said tesla will debut a Robotaxi on August 8
- Apple explores home robotics as potentially the ‘Next Big Thing’
- Ukrainian drone struck one of Russia’s biggest refineries, shooting up oil prices
GOLD NEWS
Gold surged to a new all-time high as investors sought refuge in the safe-haven asset amid rising tensions in the Middle East on Tuesday. Despite a stronger dollar and diminished expectations for U.S. interest rate cuts, gold attracted considerable interest from investors. The rush towards safety in gold was triggered by reports of Israeli air strikes on an Iranian embassy compound in Damascus, Syria. In response, Iranian President Ebrahim Raisi condemned the attacks as an “inhumane assault in brazen violation of international law” and cautioned that there would be repercussions.
Zimbabwe’s central bank has launched a new currency backed partly by gold, as it seeks to tackle sky-high inflation and stabilize the country’s long-floundering economy.
NOTABLE HEADLINES
Israelis protest as little progress has been made in defeating Hamas. Biden urged an immediate Gaza cease-fire in a call with Netanyahu.
Major earthquake strikes off of Taiwan’s coast, killing at least 9 and injuring hundreds
A Boeing 737 lost engine cover during takeoff.
TOP CHARTS
Gold breaks $2300 (USD), yet another all-time high
Exon Mobile breaks all time highs as oil prices revamp
Donald Trump Media Company is down 50% from highs on low revenue reports
THIS PAST WEEK
The latest report from the Department of Labor brought positive news, revealing that the US added 303,000 jobs last month, surpassing expectations. This robust employment growth was accompanied by a drop in the unemployment rate to 3.8% from the previous 3.9%. Surprisingly, this encouraging data didn’t unsettle investors; instead, it bolstered confidence in the market, leading to an increase in stock prices. The positive report may give Fed Chair Jerome Powell more leeway in not rushing into rate adjustments. However, with more people entering the workforce and wage growth slowing down, there’s a suggestion that the labor market can expand without igniting inflation concerns. Fed member Kashkari hinted at this sentiment, noting that if inflation remains stable, it could call into question the necessity of recent rate cuts.
Best selling products
-
1 oz Sunshine Minting Silver Bar
As low as $44.32 -
1 oz Canadian Silver Maple Leaf Coin 2024
As low as $45.16 -
1 oz American Eagle Silver Coin 2023
As low as $48.25 -
1 oz Silver Buffalo Round
As low as $43.61 -
1 oz Royal Canadian Mint Gold Bar
As low as $3,360.45
Featured Articles
Please note that the article I have shared is for informational purposes only and does not constitute financial advice. The content provided is based on general knowledge and research, and individual financial situations may vary. It is always recommended to consult with a qualified financial advisor or professional before making any financial decisions or investments. The author and I do not assume any responsibility or liability for the accuracy, completeness, or suitability of the information provided in the article.
Processing…
Success! You're on the list.
Whoops! There was an error and we couldn't process your subscription. Please reload the page and try again.
Leave a Reply