Gold Shines Amid Geopolitical Tensions and Economic Uncertainty
Gold, the precious metal long revered as a safe-haven asset, experienced a respectable price increase on Friday, fueled by a confluence of geopolitical tensions and economic uncertainties. As of 5:25 PM EDT, gold futures based on the most active June 2024 contract settled at $2,413.80, after factoring gains of $15.80, or 0.66%. Similarly, spot gold rose to $2,391.77, up $13.01, or 0.55%, reflecting the metal's allure in times of turmoil.
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Bitcoin price flash crashes below $60k on Israel-Iran conflict, halving less than 10 hours away
Pre-halving volatility and an escalation in the Israel-Iran conflict saw Bitcoin briefly dip below $60k on Thursday evening, but it recovered above $64k in early trading on Friday as the halving countdown began.
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Sibanye cuts more jobs after shutting loss-making Marikana shaft
South Africa’s Sibanye Stillwater will close its 4 Belt shaft at Marikana and shed 855 jobs after failing to return it to profitability due to low platinum group metal (PGM) prices, the company said on Thursday.The diversified miner, like its industry peers Anglo American Platinum and Impala Platinum, is restructuring to contain costs after PGM prices plunged last year.In February, Sibanye said it cut about 2,000 jobs after restructuring its PGM operations, includingclosing mature and money-losing shafts.