International News
US jewellery, watches sales up by 4.4 per cent year-on-year
Sales of watches and jewelry in the US showed further signs of growth in December 2024, up 4.4 per cent year-on-year, according the latest figures from the US Department of Commerce. But there’s been a marked slowdown since the 10 per cent increases of last September and October.
November saw sales up by just 3.0 per cent, revised down from 5.8 per cent based on actual through-the-till transactions rather than estimates. October has been revised up from 9.7 per cent to 10.0 per cent.
The average monthly year-on-year growth for the full year is 5.4 per cent, so December was little below par. Having said that, it was the 15th consecutive month of growth after a long period (the end of 2022 and much of 2023) of falling sales.
International News
US Midterm Elections: Gold, Silver Prices Surge As Democrats Take Control Of Congress
Democratic Win In Congress Creates Financial Support For Gold Because It Puts Downward Pressure On The U.S. Dollar and Interest Rates
​Gold and silver prices jumped on Wednesday as election results pointed to major victories for the Democratic Party in the U.S. midterm elections.
​This continues a strong trend from 2025, a year in which gold prices rose by 66% and silver prices surged by 135%.
​Gold: Rose 3.4% to reach $4,073 per ounce.
​Silver: Rose 5.1% to reach $52.28 per ounce.
​The main driver was the outcome of the U.S. midterm elections. As votes were counted, projections showed that Democrats won control of the House of Representatives and took over several state governor positions.
​Here is how other major financial markets reacted to the news:
​U.S. Stocks: Rose as political uncertainty decreased.
​U.S. Dollar: Fell by about 0.3%.
​Treasury Yields (Interest Rates): Moved lower.
​Oil Prices: Went down.
Democratic win in Congress creates financial support for gold because it puts downward pressure on the U.S. dollar and interest rates.
A divided government often leads to political arguments over government budgets, creating economic uncertainty. At the same time, global issues like the war involving Iran and a weaker U.S. dollar are competing against the Federal Reserve’s effort to raise interest rates.
​In short, less government spending usually means lower long-term interest rates and a weaker dollar, which makes precious metals like gold and silver more attractive to investors.
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