The Fed raised rates another 0.25% the week before last.
This marks the 5th rate hike since the Fed embarked on its policy tightening in December 2015 and the fourth rate hike in the last 12 months. The Fed’s latest statement also indicates it plans on raising rates three more times in 2018.
After a quiet overnight session, the price of Brent Crude spiked following news of an explosion at a Libyan crude oil pipeline that feeds the Es Sider sea terminal - home of the largest oil depot in Libya - a source from the Libyan National Army told The Libya Times Tuesday. The blast happened near 30km northwest of Marada, the source said.
Merry Christmas to our American friends. Happy Christmas to the rest of the Anglosphere. Felicem natalem Christi to our Latin-speaking audience, and góðr jól to those who are reviving Old Norse as a great language!
Let’s address two themes about the gold price trend that are increasingly in popularity the past few months—as the price of gold has been falling. Blame bitcoin. And blame rising interest rates.
The February 2014 collapse of Tokyo-based bitcoin exchange Mt. Gox was, for more than 24,000 investors around the world, a traumatic event. It also ushered in a two-year crypto bear market that saw the price of a single bitcoin plunge from a peak of $1,200 to a low of around $200 before the torrid bull market of the present day began.