Latest news with #Baer
India.com
16-07-2025
- Business
- India.com
Gold And Silver Prices Decline For 2nd Consecutive Day
New Delhi: Both gold and silver saw a drop during Wednesday's trading session, continuing their downward trend for the second consecutive day this week amid looming uncertainty around the US tariffs. The price of 24-carat gold dropped by Rs 416, from Rs 97,916 to Rs 97,500 per 10 grams, according to the India Bullion and Jewellers Association (IBJA). Similarly, the price of 22-carat gold decreased by Rs 381 from Tuesday's price of Rs 89,691 to Rs 89,310 per 10 grams. Additionally, the price of 18-carat gold dropped, from Rs 73,437 per 10 grams in the previous session to Rs 73,125 per 10 grams. Following the trend, the price of silver dropped from Rs 1,11,997 per kilogram to Rs 1,11,200, a decrease of Rs 797. In the week ahead, key U.S. data, including PPI and jobless claims, will guide further movement, according to analysts. The futures market, meanwhile, is moving upward. Both gold and silver displayed a positive trend in the futures market, despite the drop in spot prices. Gold for delivery on August 5, 2025, was trading at Rs 97,415 on the Multi Commodity Exchange (MCX), up 0.21 per cent. At Rs 1,11,805, silver futures for delivery on September 5, 2025, were up 0.29 per cent. The price of gold and silver increased slightly on the global stage. Silver increased by 0.34 per cent to $38.24 per ounce on the Comex exchange, while gold increased by about 0.27 per cent to $3,345.60 per ounce. "Gold is caught in a consolidation, with prices remaining rangebound between $3,300 and $3,500 per ounce. The market is missing an imminent trigger to restart the recent rally, despite a broad-based agreement on a favourable fundamental backdrop," said Julius Baer, Head of Economics at Carsten Menke. 'Central bank buying is still sound but not as strong as earlier in the year. We still see a longer-term favourable fundamental backdrop. Silver, meanwhile, broke out, first and foremost reflecting renewed investor interest. Its catch-up potential to gold seems to be very much exhausted. We lift our price targets but downgrade our view to Neutral,' Baer said.
Al Etihad
14-07-2025
- Business
- Al Etihad
Dubai among 10 most expensive cities for HNWIs
14 July 2025 13:52 A. SREENIVASA REDDY (ABU DHABI)Dubai is among the top 10 most expensive cities for high-net-worth individuals (HNWIs), according to the 2024 edition of Julius Baer's Global Wealth and Lifestyle Singapore retained its position as the most expensive city for the second year in a row. It was followed by London, which overtook Hong Kong to claim second place. Hong Kong, now in third, remains Asia's second-most costly city for affluent the top ten are Monaco (4th), Zurich (5th), Shanghai (6th), followed by Dubai (7th), New York (8th), Paris (9th), and Milan (10th).Dubai's seventh-place ranking marks a notable climb from its 12th position last Baer's Lifestyle Index ranks 25 cities by analysing residential property, cars, business class flights, dining experiences and other luxuries. The bank surveyed high-net-worth individuals with bankable household assets of $1 million or more from February to March to the report, Dubai continues to strengthen its reputation as a global wealth hub. It was ranked the most expensive city in the Middle East and Africa (MEA) region, with its rise in the index driven by surging property prices and strong demand across luxury placed in the global top five for hotel suites, fine dining, and health insurance costs. The city also posted high rankings in residential property pricing, underlining a strong appetite for upscale real estate and luxury report highlights the UAE's appeal to HNWIs, citing a stable economy, favourable tax policies, and world-class a commentary accompanying the report, Julius Baer stated: 'The UAE continues to attract entrepreneurs and the wealthy, with strong infrastructure, quality of life, and an ever-growing financial services sector.''The momentum of millionaires relocating to Dubai, which began during the pandemic, is predicted to continue. The net inflow is destined to surpass that of all other countries, positioning Dubai as a leading destination for the global elite,' the report global economic uncertainty, Julius Baer observed that luxury prices in many cities rose modestly. In Dubai, however, demand for premium goods and services remains especially robust. The report forecasts that Dubai's rise in the rankings may continue, supported by continued investment in infrastructure, innovation, and economic diversification. Source: Aletihad - Abu Dhabi
MTV Lebanon
02-07-2025
- Business
- MTV Lebanon
Israel urges China to pressure Iran to rein in nuclear ambitions
Israel urged China to use its economic and political sway to rein in Iran's military and nuclear ambitions. 'China is the only one capable of influencing Iran,' Ravit Baer, Israel's consul general in Shanghai, told reporters on Tuesday in the city. 'Iran would collapse if China didn't buy its oil.' Baer's remarks come with Israel-China relations under strain because of Israel's war in Gaza and last month's attacks on Iran, a key Middle Eastern partner of Beijing. Baer reiterated her comments in a Bloomberg TV interview on Wednesday, saying China's purchases of Iranian oil gives it influence over Tehran. 'Unfortunately, a lot of the money and the revenues that come from selling oil — Iranian oil — in Iran goes to Iran's malign activities in the region,' Baer said in the television interview. The Iranian consulate in Shanghai and the Chinese Foreign Ministry didn't immediately reply to requests for comment. During Israel and Iran's 12-day war, the Islamic Republic's military and nuclear sites were significantly damaged and several top army commanders and atomic scientists were killed. The US brokered a ceasefire that began last week, though Tehran voiced skepticism about the durability of the truce and said it's prepared to retaliate against any renewed aggression from Israel. China and Russia — Iran's main partners among world powers — both condemned Israel's strikes, but did little to support Tehran. Beijing has also consistently called for Israel to end its conflict in Gaza against Hamas and take steps toward a two-state solution for the Palestinians, something Prime Minister Benjamin Netanyahu says would threaten his country's security. China buys around 90 percent of Iran's oil exports of roughly 1.7 million barrels a day. In addition, Beijing signed a strategic partnership in 2021 outlining $400 billion of potential Chinese investments over 25 years in Iran. 'They can pressure Iran, they have political power over Iran, they can help change its maligned activities in the region,' Baer said. 'There are many things China can do.' Still, there's little evidence China would be able to sway Iran significantly with regard to military and nuclear strategy. While Tehran has built deeper ties in recent years with Beijing and Moscow, it's always pushed back against the prospect of foreign interference in key policy decisions. Moreover, President Xi Jinping will likely prefer to focus on economic ties when it comes to relations with Iran. 'I don't think China is interested in being a mediator' between Israel and Iran, Baer said. 'Being a mediator is a big responsibility, requires lots of money and hard decisions.' She added that Israel's relations with China — Israel's biggest trading partner after the US — haven't significantly deteriorated despite the conflicts since 2023. 'We're still having good conversations,' she said. 'Even if we disagree politically, it doesn't mean you cannot cooperate.'
The Star
02-07-2025
- Business
- The Star
Israel urges China to pressure Iran to rein in nuclear ambitions
FILE PHOTO: People walk amidst debris at the Evin prison after Israeli air strikes the previous month, in Tehran, on July 1, 2025. During Israel and Iran's 12-day war, the Islamic Republic's military and nuclear sites were significantly damaged and several top army commanders and atomic scientists were killed. - AFP SHANGHAI: Israel urged China to use its economic and political sway to rein in Iran's military and nuclear ambitions. "China is the only one capable of influencing Iran,' Ravit Baer, Israel's Consul General in Shanghai, told reporters on Tuesday (July 1) in the city. "Iran would collapse if China didn't buy its oil.' Baer's remarks come with Israel-China relations under strain because of the Jewish state's war in Gaza and last month's attacks on Iran, a key Middle Eastern partner of Beijing. During Israel and Iran's 12-day war, the Islamic Republic's military and nuclear sites were significantly damaged and several top army commanders and atomic scientists were killed. The US brokered a ceasefire that began last week, though Tehran's voiced skepticism about the durability of the truce and said it's prepared to retaliate against any renewed aggression from Israel. China and Russia - Iran's main partners among world powers - both condemned Israel's strikes, but did little to support Tehran. Beijing has also consistently called for Israel to end its conflict in Gaza against Hamas and take steps toward a two-state solution for the Palestinians, something Prime Minister Benjamin Netanyahu says would threaten his country's security. China buys around 90 per cent of Iran's oil exports of roughly 1.7 million barrels a day. In addition, Beijing signed a strategic partnership in 2021 outlining US$400 billion of potential Chinese investments over 25 years in Iran. "They can pressure Iran, they have political power over Iran, they can help change its maligned activities in the region,' she said. "There are many things China can do.'i Still, there's little evidence China would be able to sway Iran significantly with regards to military and nuclear strategy. While Tehran has built deeper ties in recent years with Beijing and Moscow, it's always pushed back against the prospect of foreign interference in key policy decisions. Moreover, President Xi Jinping will likely prefer to focus on economic ties when it comes to relations with Iran. "I don't think China is interested in being a mediator' between Israel and Iran, Baer said. "Being a mediator is a big responsibility, requires lots of money and hard decisions.' She added that Israel's relations with China - the Jewish state's biggest trading partner after the US - haven't significantly deteriorated despite the conflicts since 2023. "We're still having good conversations,' she said. "Even if we disagree politically, it doesn't mean you cannot cooperate.' - Bloomberg
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Business Standard
02-07-2025
- Business
- Business Standard
Israel urges China to pressure Iran to rein in military, nuclear ambitions
Israel urged China to use its economic and political sway to rein in Iran's military and nuclear ambitions. 'China is the only one capable of influencing Iran,' Ravit Baer, Israel's Consul General in Shanghai, told reporters on Tuesday in the city. 'Iran would collapse if China didn't buy its oil.' Baer's remarks come with Israel-China relations under strain because of the Jewish state's war in Gaza and last month's attacks on Iran, a key Middle Eastern partner of Beijing. During Israel and Iran's 12-day war, the Islamic Republic's military and nuclear sites were significantly damaged and several top army commanders and atomic scientists were killed. The US brokered a ceasefire that began last week, though Tehran's voiced skepticism about the durability of the truce and said it's prepared to retaliate against any renewed aggression from Israel. China and Russia — Iran's main partners among world powers — both condemned Israel's strikes, but did little to support Tehran. Beijing has also consistently called for Israel to end its conflict in Gaza against Hamas and take steps toward a two-state solution for the Palestinians, something Prime Minister Benjamin Netanyahu says would threaten his country's security. China buys around 90 per cent of Iran's oil exports of roughly 1.7 million barrels a day. In addition, Beijing signed a strategic partnership in 2021 outlining $400 billion of potential Chinese investments over 25 years in Iran. 'They can pressure Iran, they have political power over Iran, they can help change its maligned activities in the region,' she said. 'There are many things China can do.' Still, there's little evidence China would be able to sway Iran significantly with regards to military and nuclear strategy. While Tehran has built deeper ties in recent years with Beijing and Moscow, it's always pushed back against the prospect of foreign interference in key policy decisions. Moreover, President Xi Jinping will likely prefer to focus on economic ties when it comes to relations with Iran. 'I don't think China is interested in being a mediator' between Israel and Iran, Baer said. 'Being a mediator is a big responsibility, requires lots of money and hard decisions.' She added that Israel's relations with China — the Jewish state's biggest trading partner after the US — haven't significantly deteriorated despite the conflicts since 2023. 'We're still having good conversations,' she said. 'Even if we disagree politically, it doesn't mean you cannot cooperate.'
