Citi Research analysts have increased their gold price prediction for the upcoming three months to $3500 per ounce, up from the earlier anticipated $3200 per ounce. In their view, the desire to purchase precious metals is fueled by worries regarding how U.S. import tariffs will affect international trade. Moreover, Chinese regulators have recently permitted ten insurance firms to invest as much...

According to Ngozi Okonjo-Iweala, the head of the World Trade Organization (WTO), if the trade war between the US and China persists, the global GDP will contract by 7% in the long run. The standoff between the countries could divide the world into two trading blocs, forcing nations to decide who to trade with, Ms. Okonjo-Iweala stated. "We are quite worried about what we perceive as a possible...

During a meeting on Thursday, April 17, the European Central Bank (ECB) once more lowered the deposit rate to 2.25%, which influences the monetary policy direction. During a meeting on April 17, the ECB cut the deposit rate, which sets the trajectory of monetary policy, by 25 basis points (b. p.), reaching its lowest level since the end of 2022, at 2.25%. The prime rate, the rate banks use to...

Fitch Ratings has released a special revision to its quarterly macro outlook for the global economy (Global Economic Outlook, GEO), lowering the forecast due to rising external pressures. The worldwide GDP growth prediction was downgraded by 0.4 percentage points from the March assessment, falling below 2 per cent. Fitch stated in a press announcement that this marks the worst outcome for the...

The negativity among major investors regarding the future of the US dollar has peaked in the last twenty years, according to findings from a Bank of America survey. Sixty-one percent of those surveyed anticipate a decline in the value of the US dollar within the next year, reaching the highest point since May 2006. The dollar has declined 9 percent relative to a collection of key currencies...

Beijing has insisted that Chinese airlines refrain from accepting new Boeing airplane deliveries and halt any acquisitions of aircraft equipment and spare parts from U.S. firms, Bloomberg reports, quoting sources. The sources reported that this order was issued after China enacted 125% tariffs on U.S. products last week as part of a trade conflict with America. Subsequently, the price of...

U.S. stock indexes deepened their drop in trading on Thursday following reports of an additional rise in U.S. tariffs on Chinese imports. Dow Jones Industrial Average dropped by 5.06%, Standard & Poor's 500 declined by 5.92%, Nasdaq Composite fell by 6.8%. The S&P 500 dropped by 6.1% during the session, marking the largest decline since March 2020. CNBC reported referring to a White...

The Financial Policy Committee (FPC) of the Bank of England stated that risks in the global economy have risen considerably following the declaration of extensive tariffs on imports in the U.S., with a threat of a "further sharp correction" in financial markets. The committee found that hedge funds encountered mandatory short positions because of severe market volatility, yet have typically...

According to the Saudi news agency SPA, Saudi Aramco has found fourteen hydrocarbon fields and reservoirs in the Empty Quarter and Eastern Region of Saudi Arabia, as stated by the kingdom's Energy Minister Prince Abdulaziz bin Salman. Three oil fields of Arab Extra Light quality have been located in the Eastern Region: Jabu, Sayahid, and Ayfan. The oil reservoirs Jubaila and Unayzah-A were found...