Author: News Room

Investing.com– Gold prices fell slightly in Asian trade on Tuesday, but were sitting on some gains from the prior session as signs of a cooling U.S. economy ramped up expectations of rate cuts and drove the dollar to two-month lows.  But the yellow metal still remained well below record highs hit in May, with upcoming labor market data, due later in the week, set to provide more cues on the path of U.S. interest rates.  fell 0.1% to $2,347.66 an ounce, while expiring in August fell 0.1% to $2,368.50 an ounce by 00:36 ET (04:36 GMT).  Rate cut hopes grow…

The Australian Dollar edges lower, possibly due to an unexpected current account deficit of A$ 4.9 billion in Q1. Australia’s GDP is expected to grow by 0.2% in the first quarter, against the previous 0.2% rise. The US Dollar remains stable due to the upward correction in US Treasury yields. The Australian Dollar (AUD) halted its three-day winning streak on Tuesday, likely due to Australia’s unexpected current account deficit of A$ 4.9 billion (USD 3.2 billion) in the first quarter. This shift from a downwardly revised surplus of A$ 2.7 billion in the previous quarter missed market expectations of an…

Bitcoin did not give up on the $68,000-$70,000 price range and might be gaining some momentum for a breakthrough attempt. The digital gold is currently trading at around $69,000, bouncing off of the 26 EMA. However, $69,400 is a significant resistance threshold that may cause some serious trouble if BTC does not gain enough momentum. As Bitcoin attempts to break through the critical $70,000 barrier once more, the BTC/USD chart shows a bullish sentiment. The price has demonstrated resilience and the possibility of upward movement by recently rebounding off the 26-day Exponential Moving Average. This rebound implies that buyers are…

President Joe Biden’s decision to call out his predecessor Donald Trump as a “convicted felon” for the first time represents a significant hardening of his rhetoric against his Republican general election foe. Biden’s escalation at an off-camera fundraiser in Connecticut on Monday evening came as some Democrats pressed for a more robust political attack on the presumptive Republican nominee following his guilty verdict in his New York hush money trial last week. “For the first time in American history a former president that is a convicted felon is now seeking the office of the presidency,” Biden said. “But as disturbing…

Topline Robert F. Kennedy Jr.’s presidential campaign sued Nevada’s top election official Friday over what the campaign argues is an unconstitutional rule that would effectively nullify his effort to appear on the ballot—the latest complaint filed by his campaign, which is looking to get the independent candidate on the ballot in enough states so he can qualify for the presidential debate stage. Key Facts The lawsuit against Nevada Secretary of State Cisco Aguilar, who said RFK Jr.’s petition was likely invalid because it did not name his running mate, Nicole Shanahan, alleges the requirement to name a running mate on…

“I want to invite you guys over to my place for Thanksgiving,” I told a few coworkers while enjoying a picnic at the Singapore Botanic Gardens back in 2008.It had been a month since I moved from New York to Singapore and I felt happily settled in my new life. I was 27, just married, and thrilled to start the next chapter of my life on the other side of the planet.A welcoming group of colleagues from around the world — whose ages ranged from just out of college up to almost ready for retirement — had contributed to the…

Former President Donald Trump’s conviction on Thursday hasn’t dampened his appeal among donors and supporters.On Monday, Trump’s campaign team said it raised $141 million in donations alongside the Republican National Committee. The RNC is led by former North Carolina GOP chair Michael Whatley and Trump’s daughter-in-law Lara.According to the statement, the former president pulled in two million donations last month, with a quarter of those donors being new to the campaign. The sum raised is nearly double the $76 million the campaign and the RNC collected in April. “We are moved by the outpouring of support for President Donald J.…

By Hyonhee Shin SEOUL (Reuters) -South Korean President Yoon Suk Yeol said on Tuesday the country will step up cooperation with African nations to secure a stable supply of critical minerals and speed up negotiations to promote economic partnerships and trade. Hosting a first-ever summit with the leaders of 48 African countries, Yoon said South Korea will increase development aid for Africa to $10 billion over the next six years as it looks to tap the continent’s rich mineral resources and potential as a vast export market. “We will seek sustainable ways to work together on issues directly related to…

By Max A. Cherney and Stephen Nellis TAIPEI/SAN FRANCISCO -Intel launched its next generation Xeon server processors on Tuesday, as it looks to claw back data center market share and revealed that its Gaudi 3 artificial intelligence accelerator chips would be priced much lower than its rivals’ chips. The sixth generation Xeon chips are crucial for Intel (NASDAQ:), which has been steadily losing data center market share to Advanced Micro Devices (NASDAQ:). Intel’s share of the data center market for x86 chips has declined 5.6 percentage points over the past year to 76.4%, with AMD now holding 23.6%, according to…

Gold price attracts some sellers on Tuesday, largely ignoring a combination of supporting factors. Fed rate cut bets drag the USD to a nearly two-month low, but does little to lure XAU/USD bulls. Traders now look forward to this week’s important US macro data and key central bank event risks. Gold price (XAU/USD) meets with a fresh supply during the Asian session on Tuesday and erodes a part of the previous day’s recovery gains from the $2,315-$2,314 area, or over a three-week low. The downside, however, seems cushioned in the wake of firming expectations that the Federal Reserve (Fed) will…