gold news

  welcome back to our weekly update I'm Charlotte mlau with investing news.com and we're going to run through a few of this week's biggest stories in the whining industry if you enjoy this video don't forget to hit the like button subscribe to our Channel or leave us a comment below let's get into it the gold price spent the first four days of this week trading between about 2625 and 2655 per ounce as Market Watchers waited for the latest us jobs data November numbers are due out on

December 5th and will be available by the time this video is posted an increase of more than 200,000 jobs is expected after a rise of only 12,000 in October a month impacted by hurricanes and a labor strike the figures will help inform the US Federal reserve's decision on interest rates when it meets from December 12th to 13th however recent comments from Cher jome po have already shed some light on the direction the Central Bank may take speaking at an event hosted by the new New York Times P

said the US economy is in very good shape adding that he sees no reason for that to change CME group's fedwatch tool currently shows a strong probability of a 25 basis point cut next week which would bring 2024's total to 100 basis points in a somewhat surprising turn of events Powell also weighed in on bitcoin saying it's a speculative asset that people are not currently using as a form of payment or a store of value in his view that makes it a competitor for gold not the US dollar the price of Bitcoin

crossed the 100,000 threshold for the first time ever after pow spoke sparking the idea that his words helped push it over the edge after a strong year Bitcoin is up close to 125% year-to date m&a activity was in the air in the gold space this week as Northern Star resources announced plans to buy degay mining in an AllShare deal valued at 5 billion Australian dollars deg's main asset is the Western australia-based h gold project which Northern Star believes will enhance its existing portfolio of assets Condor gold was also

in focus on the m&a front after agreeing to be acquired by Metals exploration condor's Flagship laat India project is located in Nicaragua and Metal's exploration believes it has a relatively near-term path to production that will benefit its shareholders China has responded to New American export controls by Banning US exports of critical minerals like gallium germanium and antimony the restrictions put in place by the US Target China's semiconductor industry officials have cited National Security concerns related

to Chinese advancements in artificial intelligence for military applications meanwhile the critical minerals that fall under China's export ban are key in various high-tech Industries including defense the full impact of these actions has yet to be seen But as Donald Trump prepares to take the helm in the US once again there's wide consensus among experts that trade tensions with China are likely to ramp up further thank you for watching if you like this video make sure you hit the like button and

subscribe to our Channel we'd also love to hear your thoughts so leave us a comment below [Music]