Latest news with #economic
Yahoo
a day ago
- Business
- Yahoo
Oil Poised for Small Weekly Loss Ahead of OPEC+ Supply Decision
(Bloomberg) -- Oil was on track for a marginal weekly decline ahead of an OPEC+ meeting on output policy that's expected to lead to another supply hike. NYC Congestion Toll Brings In $216 Million in First Four Months Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania The Economic Benefits of Paying Workers to Move NY Wins Order Against US Funding Freeze in Congestion Fight Why Arid Cities Should Stick Together Still, West Texas Intermediate futures edged above $61 a barrel on Friday, paring some of that weekly loss. A sub-group led by Saudi Arabia is set to meet on Saturday to decide on July production levels, following preliminary talks last week on a third consecutive supply increase. 'The real story now is tomorrow's OPEC+ meeting among the eight producers that conducted voluntary cuts,' said Arne Lohmann Rasmussen, chief analyst at A/S Global Risk Management. 'The increase is coming at a time of weak economic signals and heightened uncertainty, which is weighing on prices.' The revival of idled output by OPEC and its allies at a faster-than-expected pace has raised concerns around a looming glut and helped to drag oil lower. Fears over a global economic slowdown due to President Donald Trump's tariffs has also put pressure on prices, though they now face legal uncertainties. A US trade court blocked parts of the president's levies this week, deeming them illegal, while a federal appeals court has offered a temporary reprieve from the ruling. US crude stockpiles, meanwhile, shrunk by 2.8 million barrels last week, the most in about two months, according to data from the Energy Information Administration on Thursday. Gasoline inventories also declined. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol ©2025 Bloomberg L.P.
Al Arabiya
3 days ago
- Business
- Al Arabiya
Saudi Arabia's top diplomat, US special envoy to Damascus discuss Syria developments
Saudi Arabia's Foreign Minister Prince Faisal bin Farhan discussed the situation in Syria with US Ambassador to Turkey and Special Envoy for Syria Thomas Barrack, the Kingdom's foreign ministry said on Wednesday. Prince Faisal met Barrack in Riyadh where 'they discussed steps to support the Syrian people on both the humanitarian and economic levels, along with ways to provide aid and assistance during this critical phase,' the ministry said. Barrack was appointed as Syria envoy after US President Donald Trump announced from Saudi Arabia earlier this month that he was going to lift sanctions that were imposed on Syria. The day after his announcement, Trump met with Syria's President Ahmed al-Sharaa in Riyadh in the presence of Saudi Crown Prince Mohammed bin Salman. The US officially issued a sanctions waiver for Syria last week. After the waiver announcement was made, in Turkey's Istanbul.
CBS News
4 days ago
- Business
- CBS News
3 gold price scenarios that could occur this June, according to experts
We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. Gold prices have been on a steady upward trend over the last 18 months, approximately. KanawatTH/Getty Images Gold has had a pretty good year so far, at one point even reaching above $3,400 per ounce — a record for the precious metal. In recent weeks, though, things have changed. Thanks to shifting inflation expectations, fluctuating Treasury yields, and ever-moving demand for safe-haven assets and diversification, gold prices have been volatile, bottoming out around $3,200 in mid-May. While gold prices have begun to recover already, it's a good reminder that the gold market is always changing, particularly in today's unpredictable economic climate. And if you're interested in investing in gold (or any asset, for that matter), having a good idea of what may come next is critical. Want to make sure you're prepared to make the right decisions for your portfolio this summer? We asked some experts for their predictions on what could happen with gold prices this June. Invest in gold before the price spikes again here. Gold price scenarios that could occur this June, according to experts Here are three potential gold price scenarios that could occur this June, alongside the circumstances in which these scenarios could become a reality: Gold prices could stabilize For much of June, you can likely expect things to remain fairly steady in the gold world, according to the experts we spoke with. For one, the next Federal Reserve meeting isn't until June 17 — and that's when the central bank could make a move to either increase or reduce its federal funds rate. This could spur or tamp down demand for gold, depending on which path the bank takes. "It will be an important event to watch," says Ben Nadelstein, head of content at Monetary Metals. "Any change in policy direction or even a shift in tone around future rate cuts could move the gold market." As of May 27, the CME Group's FedWatch tool puts the probability of a rate change at just 5.6%, though — so any major push toward or away from gold is unlikely. After the Fed meeting, an implementation of proposed tariffs could impact gold prices, experts says. "Gold prices have been reacting more to headlines in recent months rather than substantive changes to global conditions," says Brett Elliott, director of content at precious metals marketplace APMEX. See what gold price you could secure here now. Gold prices could drop Gold prices could very well drop, too, particularly if the Fed opts to increase rates at its June meeting (though this isn't probable). "A rate hike from the Federal Reserve is unlikely, but possible if tariffs cause inflation to rise and the labor market remains strong," Elliott says. "This kind of reversal would prompt capital flows from gold to treasuries." Changing geopolitical conditions could also push gold prices downward. "If tariffs and trade wars are resolved amicably, central banks pull the plug on their gold buying sprees, or the U.S. government finally displays some fiscal restraint, we could see gold prices retract," Elliott says. But if they do fall, don't expect anything substantial. "Central Bank buying continues at a ravenous pace," says James Cordier, CEO and head trader at Alternative Options. "This puts a solid floor under prices." Gold prices could rebound If economic data released in June starts to point to a weakening economy, the Fed could be moved to lower rates. This would be the push gold prices need to climb further, Cordier says. "A weaker outlook will cause a cry for lower U.S. interest rates, in turn, giving a new boost to gold demand as a softer dollar spurs buying," Cordier says. Additionally, "any geopolitical events that significantly increase risk" could move gold prices upward, too. "If trade negotiations stall, global tensions worsen, or the stock market corrects and pushes interest rate expectations lower, then gold could break through to new highs," Nadelstein says. The bottom line If you do choose to buy gold this June, there are many ways to go about it. You can buy gold stocks, purchase physical gold bars and coins or, if you're saving for retirement, consider a gold IRA. If you're not sure which option is best for your gold purchases, talk to an investment professional or financial advisor. They can help you make the right moves for your portfolio, even during this unpredictable gold price climate.
Yahoo
5 days ago
- Business
- Yahoo
Ethereum Surges 5% to Break $2,550 Resistance Amid Institutional Confidence
Ethereum has demonstrated remarkable strength in recent trading, forming a clear uptrend with higher lows and higher highs while reclaiming the critical $2,550 pivot level. The price action shows a convincing rebound from the $2,470-$2,495 demand zone, though technical indicators suggest caution as ETH approaches the significant $2,800 resistance level where on-chain data reveals a cluster of investor cost basis that could increase selling pressure. Global economic tensions and ongoing trade disputes continue to cast shadows over crypto markets, yet Ethereum's resilience stands out amid the uncertainty. Technical Analysis Highlights ETH formed a clear uptrend with higher lows and higher highs over the 24-hour period, demonstrating strong bullish momentum. Above-average volume during the 22:00 and 00:00 hours supported ETH's breakthrough of previous resistance levels. A notable volume spike of 178,236 units during the 07:00 hour coincided with ETH reaching its 24-hour high of $2,597. The subsequent pullback to $2,554 suggests profit-taking after the substantial rally, potentially setting up a consolidation phase. In the final hour, ETH experienced significant volatility with a sharp 0.73% correction from $2,571.25 to $2,552.40. Dramatic price action between 13:53-13:55 saw ETH plummet to $2,545.12, accompanied by volume spikes exceeding 10x the average minute volume. A potential short-term support zone has formed near $2,548, aligning with the broader 24-hour support level at $2,550. External References "Ethereum Price Analysis: Is ETH Primed for a 'Healthy' Correction?", CryptoPotato, published May 25, 2025. "Ethereum (ETH) Price Prediction for May 26: ETH Slides Below $2,500 as Bears Pressure Rising Wedge Breakdown", Coin Edition, published May 26, 2025. "Ethereum Price Finds Its Footing: Bulls Prepare for Another Push", NewsBTC, published May 26, 2025. "Ethereum (ETH) Price Prediction for May 27: Bulls Aim for $2,650 as Breakout Gains Momentum", Coin Edition, published May 26, 2025. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
6 days ago
- Business
- CNA
CNA938 Rewind - Is long-term investing wise, in the long term?
CNA938 Rewind Economic recessions and market volatility are a real risk, together with the repercussions of US President Donald Trump's tariff policies. Would long-term investing still be the right move against this backdrop? Cheryl Goh calculates the details with Chua Inn Chong, Financial Services Manager at Phillip Securities.
