Wednesday, 27 Nov, 2024

Business

Investors will want to own gold as ‘America faces a debt reckoning' - Maison Placements Canada's John Ing

One of Toronto’s oldest boutique investment firms is warning investors that gold could be a good asset to own as the world faces significant threats in the coming months and years. In his latest research report, John Ing, president and CEO of Maison Placements Canada, said he is

Forex Today: Gold shines as US yields slide; WTI tumbles

The US Dollar Index (DXY) rose marginally on Thursday and finished around 104.40. The Greenback recovered ground despite weak US economic data and the decline in US yields. US Continuing Jobless Claims reached the highest level since 2022, and Initial Claims rose to 231,000, the

EU delegation meets govt representatives, labour leaders 

A visiting European Union delegation led by Paola Pampaloni, deputy managing director of the Asia and Pacific Department at the European External Action Service, on Tuesday (November 14) held separate meetings with the government representatives and labour leaders. The meeting with the

TCB starts selling onion at Tk 50 per kg 

The government started selling soybean oil, potatoes, onions, and lentils through ‘Truck sale’ at subsidized prices in the capital today (November 14). Senior Commerce Secretary Tapan Kanti Ghosh inaugurated the truck sale program in front of the TCB building in the

Powell’s Hawkish Stance Leads to Slump in Gold and Palladium Prices

Gold fell more than 1% on Friday and was headed for a second straight weekly decline as safe-haven demand eased while the hawkish stance from Federal Reserve Chair Jerome Powell added to the downside. Palladium tumbled to five-year lows below $1,000 an ounce, hastening a retreat

Economic loss stands at over $3.5b in six days of BNP's blockade: Joy

Prime Minister Sheikh Hasina's ICT Affairs Adviser Sajeeb Wazed Joy has said the country's estimated loss to the economy stands at over US$3.5 billion from the six days alone between October 28 and November 6 as BNP, Jamaat-e-Islami, and their allies observed a total of six days

Turkish parliament dumps products over Israel support

Turkiye’s parliament removed two international brands from its restaurants on Tuesday over their alleged support for Israel, according to an official statement and a source who named the two companies. The two companies did not immediately respond to a request for comment.

Govt announces Tk 12,500 as minimum RMG wage 

The government announced Tk 12,500 as the minimum wage for the readymade garment workers on Tuesday (November 7) amid the ongoing workers' protest. State Minister for Labour and Employment Monnujan Sufian came up with the development at a meeting held at Segunbagicha office in

Italy to seize $835m from Airbnb in tax evasion inquiry

An Italian judge has ordered the seizure of €779.5m ($835.5m; £676.8m) from short-term rental giant Airbnb, over alleged tax evasion. Prosecutors say the firm failed to collect a tax from landlords on around €3.7bn of rental income. Landlords in Italy are required to

62,000 eggs imported from India

The government imported 62,000 eggs from India through Benapole land port on Sunday (November 6) evening. The consignment with 295 cartons eggs entered the land port around 3.30pm.  Acting Director of Benapole Land Port Rezaul Karim confirmed the matter. The price per egg

Gold price hits record high of Tk 1,04,626 per bhori

The Bangladesh Jeweller’s Association (BAJUS) on Sunday (November 5) raised the price of gold by Tk 1,750 to Tk 1,04,626 per bhori. The standing committee on pricing and price monitoring of BAJUS made the decision at a meeting. The price of 22-carat gold is now Tk 8,970 per

Sayem Sobhan Anvir re-elected as BAJUS president

Bashundhara Group Managing Director (MD) Sayem Sobhan Anvir has been re-elected as president of the Bangladesh Jeweller's Association (BAJUS). He will lead this traditional trade organization for the second consecutive term for the next two years. BAJUS election board chairman

12kg LPG price goes up by Tk 18

The Bangladesh Energy Regulatory Commission (BERC) has increased the price of a 12kg liquefied petroleum gas (LPG) cylinder by Tk 18 to TK 1,381 for the month of November. In October, the price was increased by Tk 79 to TK 1,363.  BERC authority announced the new price at a

Govt decides to import potatoes

The government has decided to import potatoes to keep the price of the daily essential item stable. Commerce ministry Public Relations Officer Md Haidar Ali confirmed the matter today (October 30). He said interested importers are requested to apply to the ministry in this regard.

Gold price hits record high in Bangladesh

Jewellers in Bangladesh have raised gold by Tk 2,333 to Tk 1,02,876 per bhori, which is a record high inflating price of the yellow metal on the market in Bangladesh. The standing committee on pricing and price monitoring of Bangladesh Jeweller’s Association (BAJUS) made the

Powell's hawkishness doesn't scare the gold market as uncertainty remains elevated

The gold market continues to trade near session highs as Federal Reserve Chair Jerome Powell reiterated his stance that interest rates will have to be higher for longer, but he provided little new guidance on monetary policy heading into year-end. Analysts have noted that the gold

OTC demand pushing gold to Asia could be why prices can withstand 5% bond yields - WGC's Reade and Cavatoni

The gold market is holding solid ground near its highest level in seven weeks even as 10-year U.S. bond yields push closer to 5%. Gold's resilience comes as the market continues to see lackluster investment demand with solid outflows in gold-backed exchange-traded products. In the

Gold's gains will continue to $2100 with oil prices delivering added support - Walsh Trading's Lusk

Gold prices are continuing the climb higher that began with the outbreak of the latest round of hostilities between Israel and Hamas on Oct. 6. The precious metal’s spot price has gained over $162 in the last two weeks, hitting a high just under $1,978 on Thursday afternoon. Oil

Gold prices continue to see technical selling pressure as US existing home sales drop to 2020 pandemic lows

The U.S. housing market could be showing early signs of stabilizing as sales activity of existing homes falls to its lowest level since June 2020. Existing home sales declined by 2% last month to a seasonally adjusted and annualized rate of 3.96 million units, compared to August's

IMF to approve 2nd tranche loan of $681m in Dec, BB hopes

Bangladesh Bank (BB) is optimistic that the second tranche of the US$4.7 billion loan, which amounts to $681 million, will be approved by the IMF during its board meeting on December 11. BB Spokesperson Mezbaul Haque was briefing media following a meeting with the visiting review team