Author: Steven Sahiounie

Gold prices have more room to run as global banks struggle and the U.S. Federal Reserve renders another interest rate decision, potentially breaking all-time highs — and staying there. “A sooner Fed pivot on rate hikes will likely cause another gold price surge due to a potential further decline in the U.S. dollar and bond yields,” said Tina Teng from financial services company CMC Markets. She expects gold will trade between $2,500 to $2,600 an ounce. Investors have been flocking to gold and Treasurys as bank stocks have been whacked by the shuttering of Silicon Valley Bank and Credit Suisse’s implosion. Gold is…

Bitcoin has rallied nearly 70% so far this year — and industry insiders who spoke to CNBC remain bullish, with one saying the world’s biggest cryptocurrency could reach new heights. Bitcoin previously hit its all-time high of $68,990.90 in November 2021. Since then it has fallen about 60%. Marshall Beard, chief strategy officer at U.S.-headquartered cryptocurrency exchange Gemini, said $100,000 could be a possibility for bitcoin. “I think bitcoin probably breaks all-time highs this year,” Beard said, adding that the $100,000 price figure is an “interesting number.” Beard said that if bitcoin gets to its previous record high of near…

The Palestinian Health Ministry says the martyr was targeted by a bullet straight in the head, leading to a complete laceration of the skull. The Palestinian Ministry of Health on Thursday confirmed that 25-year-old Amir Imad Abu Khadijeh was shot dead this morning in an Israeli occupation forces raid in the village of Izbat Shoufa, southeast of the northern West Bank city of Tulkarm. The Ministry indicated that the martyr was brought to a hospital in Tulkarm after he was shot in the lower extremities and hit by a bullet in the head that led to a complete laceration of…

The Swiss National Bank raised its benchmark interest rate by 50 basis points Thursday, taking it to 1.5%. The rate is the fourth consecutive hike and the change in policy rate is in line with analyst expectations. The additional monetary tightening has been put in place to counter “the renewed increase in inflationary pressure,” the bank said in a press release. It also said further rises “cannot be ruled out … to ensure price stability over the medium term.” Average annual inflation will average 2.6% in 2023 and 2% in 2024 and 2025, according to a new forecast by the Swiss National Bank,…

The co-founder of Ethereum, Joseph Lubin, hit out at regulators likening the ether cryptocurrency to a security Wednesday, saying it was more akin to a commodity like oil. In an interview with CNBC’s Arjun Kharpal at the Paris Blockchain Week Thursday, Lubin said he was “very confident” ether was not a security. If it were treated as such, ether would need to be registered with regulators and subjected to much stricter requirements around pre-clearance and reporting. “Anyone can say anything, it doesn’t make it true,” Lubin told CNBC. The concerns that ether may be deemed a security stem from a lawsuit filed…

The Russian Security Council Deputy Chairman says the West would like to destabilize the political situation in Russia. Russian Security Council Deputy Chairman Dmitry Medvedev pointed out that if Germany decides to implement the decision of the International Criminal Court (ICC) on the arrest of Russian President Vladimir Putin, it will be equal to declaring war on Russia. Earlier, German Justice Minister Marco Buschmann confirmed that the warrant for Putin’s arrest would be valid in Germany after a request from the ICC. The order was also supported by Chancellor Olaf Scholz, who, during his visit to Japan, said that “no…

LONDON — The Bank of England on Thursday hiked interest rates by 25 basis point as it grapples with persistent high inflation against the backdrop of concerns over the banking system. The Monetary Policy Committee voted 7-2 in favor of raising the Bank rate to 4.25%, in a widely anticipated move after official data on Wednesday showed that U.K. inflation unexpectedly jumped to an annual 10.4% in February. In its summary, the MPC highlighted that global growth is expected to be stronger than projected in its February Monetary Policy Report, while core consumer price inflation — which excludes volatile food and energy prices — has…

The half-day talks were the latest sign that China and Australia are re-engaging after a diplomatic freeze. China and Australia held defense talks focused on regional security issues, officials said on Thursday, just days after Beijing condemned Canberra’s plan to deploy a fleet of nuclear-powered submarines. An Australian defense spokesperson confirmed that Australian defense officials hosted a team from the People’s Liberation Army (PLA) for the discussions in Canberra on Wednesday. The half-day talks were the latest sign that China and Australia are re-engaging after a diplomatic freeze. China warned Australia, Britain, and the United States that they were walking “a…

Diplomatic relations between the Soviet Union and the Sultanate of Oman were established in 1985 Russian President Vladimir Putin has held a phone call with Sultan of Oman Haitham bin Tariq Al Said, the Kremlin press service reported. This was the first telephone conversation between the two countries’ leaders since the establishment of diplomatic relations. The call was initiated by Oman. According to the Kremlin, the parties “thoroughly discussed the current state of and the prospects for Russian-Omani interaction.” “Special attention was paid to the expansion of trade and economic cooperation and the implementation of mutually beneficial joint projects, particularly…

Austria’s Alexander Schallenberg was defending Raiffeisen Bank over its business in Europe’s largest country Russia will always remain important for the European Union, Austria’s foreign minister told Reuters on Wednesday. Alexander Schallenberg was responding questions about Raiffeisen Bank’s continued operations in the sanctioned country. The diplomat made his comments after the US government launched a probe last month into the Austrian lender over its dealings in Russia. “Let’s get real,” he said. “91% of Western companies are still in Russia and doing what is sensible: waiting, containment, ring fencing.” Raiffeisen Bank International is Austria’s second-largest lender and, despite sanctions, still plays a critical role…