EUR/USD 1.16435
0.071%
Gold 5207.89
1.349%
Oil 83.355
-0.012%
USD/JPY 157.658
-0.003%
GBP/USD 1.34585
0.169%
GBP/JPY 212.189
0.232%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Israel Defense Forces: About 50% of the ballistic missiles Iran launched at Israel during the war were loaded with cluster bombs.On March 10th, a senior U.S. Department of Defense official stated that Google is deploying AI agents for approximately 3 million Department of Defense personnel to automate routine tasks. Emil Michael, Under Secretary of Defense for Research and Engineering, said that Googles Gemini AI agent can independently perform tasks after being set by users, initially running on unclassified networks. He added that the Department of Defense is discussing with Google deploying these agents on classified cloud platforms. Google Vice President Jim Kelly stated in a blog post on Tuesday that this new capability will allow civilian and military personnel at the Department of Defense to build AI agents using natural language. Google has previously faced internal criticism for its collaborations with the Department of Defense. In 2018, thousands of employees protested the companys involvement in Project Maven, a Pentagon plan to use AI to analyze video data from overseas drone warfare. The opposition ultimately led to Google not renewing its contract for the project.March 10th - Data released Tuesday by the National Association of Realtors (NAR) showed that U.S. existing home sales unexpectedly rose in February, while the previous months data was revised upwards, thanks to lower mortgage rates and moderate asking prices. Contractual sales volume increased by 1.7% to an annualized rate of 4.09 million units, exceeding market expectations. A bright spot in the housing market is improved affordability, with recent declines in mortgage rates and moderate price increases. The NARs monthly housing affordability index (reflecting changes in home prices, median income, and borrowing costs) is currently at its most favorable level since 2022. The associations chief economist, Lawrence Yun, stated, "Housing affordability is improving, and consumers are responding. But theres still a long way to go to return to pre-pandemic transaction activity levels." The report showed that the median price of existing homes rose 0.3% year-over-year to $398,000 last month, one of the smallest increases since the housing boom during the pandemic. Existing home inventory increased 4.9% year-over-year to 1.29 million units, the highest February level since 2020.Israeli Foreign Minister: (When asked when and how the war with Iran will end) We will consult with Washington when the time is right.French Finance Minister: We are prepared to impose sanctions on excessive price increases at gas stations.

As Investors Digest Fed Policy Decisions, Gold Prices Rise

Charlie Brooks

Jun 17, 2022 11:11

16.png


As investors processed the U.S. Federal Reserve's decision to implement a colossal interest rate increase, the price of gold increased in Asia on Thursday morning.


At 12:23 AM ET, gold futures rose 0.66 percent to $1,671.75. (4:23 AM GMT). The dollar, which typically swings in the opposite direction of gold, declined on Thursday morning.


Wednesday, the U.S. Federal Reserve increased interest rates by 75 basis points to combat inflation after the U.S. consumer price index jumped 8.6 percent year-over-year in May, the highest increase since 1994.


Jerome Powell, chairman of the Federal Reserve, said that the central bank would implement another hefty rise in July, but "today's 75-basis-point increase is atypically high and I do not anticipate further movements of this magnitude."


The Fed's decision decreased longer-term U.S. government bond rates and moved the dollar off two-decade highs, which pushed gold up as much as 1.9% in the previous session.


Michael McCarthy of Tiger Brokers told Reuters that inflation hedge purchasing, possible safe-haven demand, and pressure from a rising interest rate environment are keeping gold prices stable.


"Gold has remained unusually range-bound for weeks (despite huge news)," said McCarthy, adding that the dollar's general upward trend suggested a cautious picture for gold.


In comparison to other precious metals, silver rose 1.11 percent. Platinum increased by 0.02 percent, whilst palladium increased by 0.60 percent.


Suggestion