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In a tumultuous trading session on Monday, gold prices experienced a significant decline, falling over 1% as global markets reacted to mounting economic concerns. The spot price of gold dropped to $2393.66 per ounce, while U.S. gold futures decreased by 1.4% to $2434.10. This downturn in gold prices can be attributed to traders cashing out on profits accrued during previous market highs, exacerbated by a broader sell-off across various sectors. The sell-off reflects investor anxiety regarding ec...
In a surprising turn of events, the U.S. economy has exhibited remarkable strength, buoyed by healthy corporate performance that continues to inspire confidence among investors. Recent reports highlight a robust performance in the second quarter of 2024, with many companies exceeding earnings expectations. This trend not only indicates a resilient economic landscape but also offers a positive outlook for the remainder of the year.
As corporations report their earnings, the data reveals an encour...
In a dramatic turn of events, US stock markets experienced significant declines on Monday, with the S&P 500 index plummeting amidst growing concerns over a potential recession. This downturn was largely triggered by disappointing economic data released last week, which stirred fears among investors about the health of the American economy.
Analysts reported that the selloff was initiated by a dismal reading from the ISM Manufacturing PMI, indicating a contraction in manufacturing activity. T...
