WASHINGTON: Mortgage rates in the United States moved higher this week, ending a three-week decline as global energy market volatility and inflation concerns pushed borrowing costs upward. Read More: Rate-starved US banks happily gobble mortgage business According to the latest market update, the average 30-year fixed mortgage rate climbed to 6.3%, reversing the downward trend seen over […]
Federal Reserve
Global gold prices tumbled sharply
Global gold prices tumbled sharply on Monday, hitting their lowest level in four months as rising geopolitical tensions and shifting interest rate expectations dampened investor demand for the precious metal. Read More: Gold prices increase by Rs 1,000 per tola Spot gold fell more than eight per cent during the session, touching a low of $4,097.99 […]
Trump claims authority to impose tariffs despite Supreme Court ruling
WASHINGTON — US President Donald Trump on Sunday asserted his right to impose tariffs, despite the Supreme Court last month striking down his global tariff measures. Read More: US Supreme Court strikes down Trump’s global tariffs In a series of posts on his Truth Social platform, Trump said he “has the absolute right to charge TARIFFS in another form” and […]
Global stocks fall as oil surge fuels market uncertainty
Global financial market declined on Friday as escalating tensions linked to the Iran war pushed oil prices above $100 per barrel, raising concerns about inflation and future interest rate decisions. All three major US stock indexes ended the day and the week in negative territory. The Dow Jones Industrial Average slipped 0.25%, while the S&P […]
Gold rises above $5,000 as investors await U.S. jobs data
Gold prices extended rises on Monday, trading just above the $5,000-per-ounce mark, as the U.S. dollar weakened and investors awaited key labour market data to gauge the future trajectory of interest rates. Read More: Gold rises, silver volatile as global markets tumble Spot gold rose 1.3% to $5,026.04 per ounce by 0333 GMT, following a […]
Dollar rises as Trump signals Fed pick, shutdown fears ease
TOKYO: The U.S. dollar rose on Friday, trimming its weekly losses, after President Donald Trump said he would soon announce his nominee to lead the Federal Reserve and as optimism grew that Washington would avoid a government shutdown. Read More: Dollar weakens amid ‘sell America’ trade, Yen slumps too Trump said he planned to name his […]
US Federal Reserve holds rates steady amid Trump pressure
The US Federal Reserve held interest rates steady on Wednesday, resisting pressure from President Donald Trump to implement cuts. In a 10-2 vote, the central bank maintained the federal funds rate at 3.50–3.75%, citing solid economic growth and stabilizing unemployment. Read More: Dollar faces pressure but remains dominant in global finance The Federal Open Market […]
Gold surges past $5,200 as dollar slides to four-year low
Gold extended its blistering rally on Wednesday, surging past the $5,200 mark for the first time, as the US dollar sank to a near four-year low amid growing investor unease over US economic prospects and currency policy. Read More: Gold price tumbles Rs1,500 in Pakistan Spot gold rose 1.1% to $5,243.58 per ounce by 0314 GMT, […]
Gold and silver hit record highs amid tariff fears
BENGALURU: Gold and silver surged to record highs on Monday as investors sought safe-haven assets amid fresh geopolitical tensions and uncertainty over US trade policy. Read More: Gold surges Rs7,500 per tola in Pakistan – Daily Times Spot gold jumped 1.7 per cent to $4,672.49 per ounce by 12:05pm ET, after briefly touching an all-time […]
Dollar faces pressure but remains dominant in global finance
The US dollar remains the world’s most influential currency despite facing turbulence from political uncertainty, shifting monetary trends and efforts by major economies to diversify away from it. Analysts argue that the present phase reflects diversification rather than rapid de-dollarisation, as the global financial system still overwhelmingly depends on the greenback. Read More: Rupee slightly […]