Gold broke the $3,000 an ounce price threshold for the first time on Friday as investors sparked a rally in the safe-haven asset amid mounting economic uncertainty due to President Donald Trump’s tariff war. Spot gold prices hit an all-time high of $3,004.86 earlier in Friday’s trading session before dipping back below the $3,000 level as traders took profits. Gold’s surge above the historic $3,000 milestone was driven by “beleaguered investors seeking the ultimate safe-haven asset given Trump’s tumult on stock markets,” said Tai Won, an independent metals trader. WHY GOLD PRICES COULD HIT $3,000 DESPITE VOLATILITY Traditionally viewed as a safe…
Canadian Prime Minister Mark Carney says US President Donald Trump “respected Canada’s sovereignty” in the first call between the pair, who spoke amid an ongoing trade war between the two neighbours. Trump has repeatedly suggested that Canada should become the 51st US state – an idea that has sparked widespread backlash among Canadians. Carney, currently in the midst of an election campaign, described the call as “very constructive”, while Trump said the call was “extremely productive”. Trump’s planned 25% tariff on vehicle imports is due to come into effect on 2 April, which could prove devastating for the Canadian car…
SpaceX’s Crew-10 launched into space Friday to bring home two NASA astronauts who have been stuck at the International Space Station (ISS) since June 6. The crew of four geared up in the “suit-up room” amid photos of the Apollo crew, before driving to the launchpad in multiple Teslas adorned with “LIF10FF” license plates — an ode to the mission number. Each astronaut received a medical check before being briefed by SpaceX and NASA. Later, they partook in various traditions, including a card game to eliminate any bad luck. SPACEX MAKES HISTORY WITH SUCCESSFUL TEST OF ‘MECHAZILLA ARMS’ The launch…
It’s probably not a big surprise that the liberal-left mainstream legacy media are doing everything they can to paint a negative picture of President Donald Trump’s economic policies. Now, we’ve become accustomed to the political media going after Trump for years, with phony accusations and mistaken conclusions. But now the fake news has spread to the economic and business media. And that’s really a pity. Reputable economists and economic journalists are ganging up on Trump, using tariffs as a stick to beat him over the head. It’s like the ‘Russia, Russia, Russia’ narrative has now come to economic coverage. And,…
Sauce and smoke return to Chick-fil-A sandwiches next week, and some new, fruity beverages can help customers wash them down. Starting March 17, the Smokehouse BBQ Bacon Sandwich will come back to locations nationwide. This time, diners have their choice of original, spicy or grilled chicken fillets. Assorted Pineapple Dragonfruit beverages will also join the lineup for what is being described as a “perfectly sweet pairing,” but both are for a limited time, Chick-fil-A said in a press release. The Smokehouse BBQ Bacon Sandwich pairs chicken with “crispy bacon hand-tossed in a brown sugar and black pepper blend, topped with…
Cryptocurrency exchange Kraken is preparing for an initial public offering next year, according to Bloomberg. The IPO is expected to take place during the first quarter of 2026 and comes amid the Trump administration’s pro-stance on digital assets. The company, in a response to Bloomberg, indicated it is monitoring the best time for a potential IPO. “We recently disclosed 2024 financial highlights to be more transparent about our business, which is something we started by being first to publish proof of reserves, and we’re going to continue to prioritize going forward,” Kraken said in response to a query from Bloomberg…
President Donald Trump boasted that the U.S. is experiencing a “manufacturing boom” following the release of the first full jobs report of his second term. The Labor Department on Friday reported that employers added 151,000 jobs in February, below the estimate of 160,000 jobs made by LSEG economists. However, manufacturing added 10,000 jobs in February, above LSEG economists’ estimate of a 5,000 gain. “During the last year the Biden administration saw a loss of more than 110,000 manufacturing jobs or 9,000 manufacturing jobs every single month. During the first full month in office, we’ve not only stopped that manufacturing collapse,…
Mortgage rates fell for a seventh consecutive week to the lowest level since December, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage decreased to 6.63% from last week’s reading of 6.76%. The average rate on a 30-year loan was 6.88% a year ago. The 30-year loan saw the largest weekly decline since mid-September, said Sam Khater, Freddie Mac’s chief economist. MORTGAGE RATES FALL TO LOWEST LEVEL IN OVER 2 MONTHS “The decline in rates increases prospective homebuyers’ purchasing power and should provide…
The U.S. Department of Justice is investigating the recent surge in egg prices, according to a report. Antitrust enforcers with the department are looking into the cause of rising prices, including whether egg producers have conspired to artificially inflate them by holding back supply, The Wall Street Journal reported, citing sources. Egg prices have nearly doubled in the last year and the U.S. Department of Agriculture (USDA) predicts they could rise again by 41% over this year. The department said last month it is willing to invest as much as $1 billion to address egg prices. AMERICANS TAKE TO RAISING…
The U.S. economy added jobs at a slower pace than expected in February, giving the Federal Reserve more labor market data to consider as it prepares to meet later this month. The Labor Department on Friday reported that employers added 151,000 jobs in February, below the estimate of 160,000 jobs made by LSEG economists. The unemployment rate was 4.1%, slightly higher than economists’ expectations that it would remain at 4%. US JOB CUTS SURGE 245% IN FEBRUARY ON FEDERAL GOVERNMENT LAYOFFS The number of jobs added in the prior two months were both revised, with job creation in December revised…
