Gold prices eased for a third straight session on Tuesday, weighed down by rising Treasury yields, while the Middle East conflict kept inflation and rate-hike concerns elevated. FUNDAMENTALS * Spot gold fell 0.2% to $4,319.98 per ounce by 0100 GMT. Bullion hit a more than two-month low on Monday. * U.S. gold futures for August […]
Madagascar declared a nationwide state of energy emergency for 15 days on Tuesday, citing disruptions in energy supply caused by the ongoing conflict in the Middle East, its cabinet said. Several African governments have responded to surging global oil prices, spurred by the Iran war, by implementing sharp fuel price increases, energy-saving measures, or electricity rationing. “This decision was taken […]
Governor of the Bank of Ghana, Dr Johnson Asiama, has cautioned that rising tensions in the Middle East could undermine Ghana’s progress in reducing inflation, despite recent improvements in the country’s macroeconomic indicators. Speaking at the opening of the 129th meeting of the Monetary Policy Committee (MPC), Dr Asiama noted that developments in the global […]
South Africa’s President Cyril Ramaphosa said on Wednesday that the escalating conflict in the Middle East was already putting strain on the African continent’s supply chains and causing higher energy prices. Ramaphosa made the comments at an African energy conference in Cape Town, which is taking place at a time of extreme volatility in global energy markets. Oil […]
