X is moving deeper into financial services as its long-awaited payments platform, X Money, enters internal testing and prepares for a wider rollout. The initiative marks a major step in Elon Musk’s effort to transform X from a social media network into a financial ecosystem. By combining messaging, payments, and asset management, the platform aims
The number of Americans filing new claims for unemployment benefits declined less than expected last week, suggesting the US labor market remains resilient despite signs of cooling hiring momentum and recent weather-related disruptions. Seasonally adjusted initial jobless claims fell by 5,000 to 227,000 in the week ending February 7, the Labor Department said on Thursday.
Precious metals are experiencing renewed selling pressure, with silver prices falling sharply on Thursday. This decline has largely erased the brief rebound the sector saw earlier this week. On COMEX, the March silver contract shed more than 13% on Thursday, while gold fell more than 2% below $4,900 per ounce. Meanwhile, oil prices also fell
Markets are being jolted across asset classes as risk appetite frays. Bitcoin has cracked a key support level, deepening fears the crypto sell-off has further to run. In equities, Hims & Hers has ignited a price war in weight-loss drugs, rattling Big Pharma. Commodities are back under pressure as gold and silver slide sharply after
Silver prices continued to drop on Friday as the metal headed for its second weekly decline on a stronger dollar and profit-taking. The recent renewed weakness highlighted the extent of the technical damage caused by last Friday’s historic sell-off. This development calls into question whether the previously most powerful bull run in metals history can
Asian equities, cryptocurrencies, and precious metals came under renewed pressure on Friday as investors pulled back from risk assets, rattled by technology-sector weakness, credit concerns in Southeast Asia, and fresh signs of slowing momentum in the US economy. Markets across the region reflected a cautious tone, while volatility spilled into commodities and digital assets, underscoring
Gold prices reclaimed the psychologically crucial level of $5,000 per ounce on Monday as economic data from the weekend boosted sentiment. A weaker dollar against a basket of major currencies lifted prices as it makes commodities priced in the greenback cheaper for overseas buyers. Gold experienced a surge, moving beyond the significant $5,000 level during
Gold prices reclaimed the $5,000 per ounce mark on Monday as the dollar slipped against a basket of major currencies. Silver prices also surged more than 6% to trade around $82 per ounce. The white metal is gaining interest from reflation trades, driven by political developments in Japan and continuous US monetary easing expectations. Oil
Gold prices drifted lower in Asian trade on Tuesday, snapping a two-day positive streak for the precious metal. Experts believe that the market lacked strong follow-through selling, and demand from central banks has created a floor for the prices. Even though gold prices fell on Tuesday, the yellow metal remained above the psychologically-crucial level of
At current levels, gold reflects both fear-driven flows and structural repricing with a move towards $6,000 looks realistic in the near future, says B2PRIME Group’s Eugenia Mykuliak. Invezz spoke with Mykuliak, founder and executive director of B2PRIME Group, a global financial services provider for institutional and professional clients, in an exclusive interview to discuss price