Yearly Archives: 2023
Positive Progress On U.S. Debt Ceiling Bill
Written on May 17, 2023 at 6:08 am, by lishitong
Investors are rotating out of gold en masse on optimism surrounding the U.S. avoiding a default Both President Biden and House Speaker Kevin McCarthy struck an optimistic tone regarding the prospects of reaching a consensus to raise the national debt ceiling and avert a potentially catastrophic default on the debt. As a result, gold pricesContinue Reading
All Eyes On Biden Meeting Outcome
Written on May 16, 2023 at 6:05 am, by lishitong
US Treasury Secretary Janet Yellen has once again emphasised the need to pass the debt ceiling bill before June 1, warning that failure to do so could result in the federal government running out of cash to meet its obligations. President Biden is set to hold a meeting with congressional leaders today to reach aContinue Reading
Dollar Boosted By Fed’s Hawkish Comments
Written on May 15, 2023 at 5:52 am, by lishitong
A bounce in the U.S. dollar has put downward pressure on oil and gold prices Equity markets were stagnant while the dollar has strengthened, driven by hawkish comments from various Fed officials stressing high inflation in the U.S. On the other hand, President Joe Biden and the country’s congressional leaders are going to meet onContinue Reading
