Gold price falling amid Fed meeting

The price of gold has dropped a bit before the meeting of Fed that is taking place today. Currently, the precious metal is attacking 2-months lows due to Fed meeting, which has the potential to push the prices of gold even lower. The metal has lost about 7% of its value in the past 2 weeks, while many expect that the worst is yet to come.

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Gold hits $2,000

Gold rose above $2,000 for the first time in one year. This is because of the ongoing fears about the crash of the banking system. Gold is up 10% so far in 2023.

WTI Crude falls below $70

WTI crude fell by more than 5% to $67.5. This is the lowest level since December 2021, marking the end of the commodity rally for now.

WTI crude drops amid high volatility

WTI crude fell by more than 5% to below $73, close to a level not seen since early December. The decline is likely caused by financial contagion fears following the Sillicon Valley Bank and Signature Bank collapses.

Commodities fall after Fed’s press

Silver tumbled from $21 to $20 in the midst of a global selloff. The commodity fell by almost 5% in a single day. Platinum also dropped by 4.7%, and gold declined by 1.8%.

US natural gas drops 10% πŸ“‰

US natural gas tumbled 10% when the market opened. This is after the commodity bottomed out and rose almost 50% in less than two weeks.

Platinum jumps 4.5%

Platinum was on track to lose 20% in six weeks but refused to drop below $900. Instead, it jumped more than 4.5% to $950, slowly rising back to $1,000.

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EUR gains on all fronts

The euro strengthened against all fiat currencies, supporting the ongoing trends. EUR/AUD jumped 1.5%, while EUR/JPY and EUR/GBP are up 1.2%.

Texas introduces a Bitcoin bill

Texas introduced a bill that should protect Bitcoin miners, holders, and developers. The bill explains how Bitcoin made several technological breakthroughs, including blockchain and distributed ledger.

FRC gains 30% amid banking mayhem

After a banking bloodbath for the past few weeks, First Republic Bank (FRC) gained 30%. The stock jumped from $12 to $16, but is still down from $120 three weeks ago.

Canada’s inflation drops

Canada’s annual inflation rate dropped to 5.2% from the previous month’s 5.9%. This is the lowest reading since January 2022 and falls short of the market’s projection of 5.4%. Core inflation decreased as well, from 5% to 4.7%.

Crypto optimism grows

After Balaji made a bet that Bitcoin would hit $1 million, Strike CEO, Jack Mallers, joined him. This is due to fears of hyperinflation in the US. In the meantime, the fear and greed index reached 16-month highs, bringing euphoria to the crypto market.

Florida Governor wants to ban CBDCs

Florida Governor Ron DeSantis called for a ban on central bank digital currencies (CBDCs). He pointed out some negative effects, including higher surveillance over citizens or a cap on CBDC holdings.


Banks cool down even more before Fed – another green day for stocks

Banks cool down even more before Fed – another green day for stocks

The US Treasury stepped in again to make sure every little bank can count on it. All eyes are starting to turn on Fed.
Gold respects $2,000 resistance for now – can it smash through?

Gold respects $2,000 resistance for now – can it smash through?

Gold could pause its rally as investors now anticipate the Fed’s monetary policy meeting, which can go either way.

Financial sector jumps as Yellen calms investors

Markets think the crisis is over, bidding up regional banks and the whole financial sector.
Bitcoin: An extraordinary asset class defying traditional labels

Bitcoin: An extraordinary asset class defying traditional labels

Discover how Bitcoin challenges traditional asset classes and reshapes the financial landscape with its unique attributes.