Gold prices have soared past the $2,300 level, a significant milestone for investors and traders alike. This surge has sparked renewed interest in the precious metal, with many analysts predicting further gains in the coming weeks.
California’s unemployment rate has reached the highest level in the United States, according to recent data released by the Bureau of Labor Statistics. With a rate of 8.3%, the state has seen a significant increase in joblessness over the past year.
The energy industry in the United States has experienced a significant boost in recent years, with oil production reaching record levels under the Biden administration. According to recent reports, the US has become the world’s top producer of oil, surpassing both Saudi Arabia and Russia.
Bitcoin has reached its highest level in over a year, with the cryptocurrency surging past the $12,000 mark. The spike in value comes as President Trump recently expressed his support for the digital currency, stating that he believes it has the potential to become a global currency.
Gold Hits Record High
Gold prices surged to over $2,100 per ounce on Tuesday, marking the highest level ever recorded for the precious metal. Traders are betting on further interest rate cuts to combat economic uncertainties caused by the ongoing pandemic.
In a worrying trend for investors, New York Community Bancorp’s (NYCB) stock price has dropped below $4, sparking concerns among Wall Street analysts about the bank’s loan losses and deposit levels.
China has just reported its lowest level of foreign direct investment since 1993, signaling a slowdown in investment from overseas businesses. The country received only $103 billion in foreign direct investment in 2020, a drop of 4% from the previous year.
The adoption and popularity of crypto exchange-traded products have hit bull run levels, with an impressive $67 billion in assets under management. This significant milestone highlights the growing interest and demand for digital assets among investors around the globe.
According to recent reports, foreign direct investment in China has reached its lowest level in decades. The decrease in investment can be attributed to a number of factors, including the ongoing trade war between the United States and China, as well as uncertainty surrounding China’s economic growth.
# Rise in material prices and shortage of skilled labor contributes to slowdown
