Putin’s gold strategy explains why sanctions failed
There are more than 16,000 sanctions imposed against Russia. Yet the Russian economy and war machine grew by 3.6% in 2023 and is projected to grow another 2.6% in 2024.
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There are more than 16,000 sanctions imposed against Russia. Yet the Russian economy and war machine grew by 3.6% in 2023 and is projected to grow another 2.6% in 2024.
SYDNEY (AP) — Falling rocks inside a gold mine in Australia killed one worker and left another with life-threatening injuries, rescuers said.
A record-breaking rally for gold may yet continue, particularly as investors position for interest rate cuts — but analysts say silver appears well placed to outshine the yellow metal in the second half of the year.
Gold continued to break price records on Friday, trading at US$2,183 an ounce at mid-afternoon, following a more dramatic rally in Bitcoin. Gold led Bitcoin in 2020 and 2021, during the Covid crisis. This time Bitcoin clearly led gold, suggesting that investors have more confidence in the high-tech alternative to the dollar.
A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
One helpful way to think about the recent gold rally: it's a case of schadenfreude. The yellow metal does well when other assets — and the world — are in trouble.
Gold prices pushed higher Tuesday after futures pricing for the precious metal notched fresh records in the previous two sessions — with analysts seeing strength lasting at least into the second half of the year.
This is CNBC's live blog covering Asia-Pacific markets.