Gold closed lower on Tuesday, after remarks by the U.S. Treasury Secretary, Janet Yellen, pointed to a possible interest rate hike to prevent the economy from overheating. Recent remarks by Fed officials indicated that despite recovery signs the economy is yet to achieve the central bank’s employment and price stability …

The United States Secretary of the Treasury, Janet Yellen, suggested on Tuesday that raising interest rates might be necessary in order to avoid the economy overheating amid increased government stimulus spending and investment plans. “It may be that interest rates will have to rise somewhat to make sure that our …

European stocks dropped on Tuesday, mainly due to large losses by the tech sector that echoed the decline of tech stocks in Wall Street across the Atlantic. The pan-European STOXX 600 index fell by 1.5%, with the technology sector losing about 3.8% in its worst daily performance since October 2020. …

New factory orders in the United States increased in March, supported by an improving local demand. In addition, business spending on equipment exceeded market expectations, data showed on Tuesday. Factory orders rose by 1.1% in March, following a 0.5% decline in February, according to the U.S. Department of Commerce. Unfilled …

Building permits in Canada increased in March compared with the month before, data showed on Tuesday. In March, the total value of Canadian building permits surged by 5.7% on a monthly basis to reach a seasonally adjusted level of CAD 10.9 billion, according to data by Statistics Canada. February’s reading …

Canada’s imports increased by 5.5% in March, while exports leveled up by 0.3%, data by Statistics Canada showed on Tuesday. Accordingly, the Canadian international merchandise trade balance returned to a deficit position, following two consecutive monthly trade surpluses. Canada registered a trade deficit of CAD 1.1 billion in March, compared …

The Chairman of the United States Federal Reserve, Jerome Powell, said on Monday that the U.S. economy is improving but still on the way to fully recover from the coronavirus pandemic. “We are not out of the woods yet, but I am glad to say that we are now making …

The main indices of the New York Stock Exchange (NYSE) closed mostly higher on Monday, as Wall Street investors looked at recent economic data that suggested the manufacturing sector, as an indicator for the economy, continue to expand but at a slow pace due to supply chain challenges. The Dow …

Oil prices rose on Monday, amid signs of an improved demand outlook, despite the rising number of cases of the coronavirus, especially in India. Recent expectations of a strong recovery in the global demand for crude oil during the second half of the year continue to provide support for oil …

Gold prices rose on Monday after four consecutive declines, on the back of the U.S. Dollar’s (USD) decline and an improved demand for safe haven assets, as Treasury bond yields retreated. Gold futures for June delivery gained $24.10, or 1.4%, to close at $1,791.80 per ounce. This marked the highest …