Goldsmiths arrange products in a gold and jewellery store in Istanbul, Turkey. Reuters
Domestic gold prices in India jumped to a record following an unexpected increase in import duty in the country’s budget, hitting demand and forcing dealers to offer the highest discount in nearly three years.
Trade anxiety and escalating tensions between the United States and Iran sent gold soaring to a six-year high on Tuesday, and saw traders dive back into safe-harbour government bonds and the yen and Swiss franc at the expense of the dollar.
Gold prices rose on Monday to their highest in more than two months as heightened Sino-US trade tensions and Washington's threat of tariffs on Mexico stoked worries of a global recession and drove
French President Emmanuel Macron announced an 8 billion euro ($8.8 billion) plan to make France the top producer of clean energy vehicles in Europe and urged French carmakers to make vehicles in their own country.
Dubai Silicon Oasis Authority announced the completion of more than 3,000 transactions worth approximately Dhs10 million in two months, from mid-March to mid-May 2020, while working remotely.
India’s stringent lockdown norms have lasted longer than expected, said Fitch Ratings as it further reduced India’s GDP forecast to (-) 5 per cent from an earlier projected growth of 0.8 per cent for the current fiscal.
The euro retreated from near two-month highs and equity markets wavered on Wednesday even as the EU unveiled a 750b euro ($823 billion) recovery fund that helped offset concerns about unrest in Hong Kong over Beijing’s proposed security laws.