Dear followers everywhere, welcome to a new global tour of the financial markets, businesses, and companies around the world, and everything new for today, Monday, November 18, 2024.. coming to you from Banker, so stay with us.
Starting with the global gold market, where the prices of the yellow metal recovered, after suffering losses in the previous six sessions, driven by the cessation of the rise of the US dollar.
Gold rose in instant transactions by 1.3 percent to $2,593.32 per ounce by 12:06 GMT, moving away from the lowest level in two months that it recorded on Thursday.
In the same context, Goldman Sachs Bank revealed positive expectations for the performance of the yellow metal during the coming period.
According to a report published by Bloomberg, Goldman Sachs expects gold prices to reach a record level during the year 2025, due to the increase in central bank purchases and the reduction of interest rates in the United States, expecting the price of an ounce to reach $3,000.
From gold to energy markets, oil prices rose on Monday, with the intensification of the fighting between Russia and Ukraine over the weekend, but concerns about weak demand for fuel in China, the second largest consumer in the world, and expectations of a global oil surplus cast a shadow over the markets.
Brent crude futures rose by 18 cents to $71.22 per barrel, and US West Texas crude futures rose by 6 cents to $67.08 per barrel.
The next news in our global tour comes from the European Central Bank, which confirmed that Trump’s plans may fuel tensions in the markets
European Central Bank Vice President Louis de Guindos warned that the spending plans announced by US President-elect Donald Trump may lead to an inflation of the US budget deficit in addition to raising fears in the markets.
He pointed out during a banking conference in Frankfurt that the public debt ratio in the United States is close to 100 percent of GDP, with a spending deficit of about 7 percent.
Among the corporate news in our global tour, the American company “Spirit Airlines”, which specializes in low-cost flights, has applied for bankruptcy protection to the competent authorities, in light of the presence of major problems related to competition, as well as the unsuccessful merger process with “JetBlue Airways.” “.
According to a report, the company filed for bankruptcy protection, according to a judicial document, under Chapter Eleven of the New York law, listing assets and liabilities ranging between one billion and ten billion dollars.
The last news in our global tour from Türkiye, which intends to cancel government support for large electricity consumers in the residential and commercial sectors as of next February, according to what the country’s Official Gazette reported.
The Official Gazette announced that subsidies will be dropped for consumers whose consumption exceeds 5,000 kilowatt-hours annually, while the subsidy ceiling for industrial users and the public and private sectors will be set at 15,000 kilowatt-hours annually.
