International News
Why JPMorgan, HSBC are pulling bullion from Bank of England
Trade disruption between the United States and Europe, caused by US President Donald Trump’s tariff threats, has led to a big shift in the gold market. A surge in gold prices in the US, driven by trade uncertainties, has triggered a rush to transport gold from London to New York, creating one of the biggest movements of physical bullion in years.
Leading global banks, including JPMorgan Chase and HSBC, are capitalising on the price gap between the two markets, using commercial flights to ferry gold across the Atlantic, the Wall Street Journal reported on Monday.
Gold prices have reached record highs amid concerns over trade policies, with the price of gold futures in New York soaring 11 per cent this year to $2,909 per troy ounce. Analysts predict the price could soon surpass $3,000 per troy ounce for the first time.
Meanwhile, gold prices in London have lagged behind, trading about $20 lower per ounce since early December.Market participants have attributed this price gap to recent tariff threats by US President Trump, who has criticised Europe’s trade policies and hinted at further duties on the region. Although gold is not directly targeted by these tariffs, the market has reacted sharply, with traders exploiting the discrepancy.
International News
US Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
While Overall Buying Power Remains High, Ongoing Inflation and Rising Household Costs Mean Some Families Will Have To Watch Their Spending More Carefully Than Others
The National Retail Federation (NRF) predicts Americans will spend $1.01 trillion on holiday shopping in November and December. That is a 4.2% jump from $972 billion last year.
NRF said its forecast was based on economic modeling that incorporates consumer spending, employment, wages and historical retail sales data. It excludes automobile, gasoline and restaurant sales
Extra Hiring: To handle the surge in shoppers, stores plan to hire 325,000 to 375,000 temporary holiday workers.
Mixed Budget Impact: Higher gas prices and inflation could still strain some family budgets, affecting low- and high-income shoppers differently.
Retailers expect a strong shopping season because people continue to make holiday spending a priority.
Store owners are ready to attract shoppers by offering competitive prices, deals, and choices for every budget.
While overall buying power remains high, ongoing inflation and rising household costs mean some families will have to watch their spending more carefully than others.
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US Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
Belgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day
Limelight Lab Grown Diamonds Crosses 100 Stores Milestone This Dussehra: Targets 200 In 2027
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International News23 hours agoUS Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
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National News17 hours agoBelgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day
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National News17 hours agoLimelight Lab Grown Diamonds Crosses 100 Stores Milestone This Dussehra: Targets 200 In 2027
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New Premises18 hours agoJoyalukkas Opens Its 2nd Bengaluru Showroom in Jayanagar
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