Gold Silver Reports — UK Retail Sales Recover 0.6% On Month In June — UK retail sales grew 0.6 percent month-on-month in June, reversing a 1.1 percent fall in May, data from the Office for National Statistics revealed Thursday. Excluding auto fuel, retail sales climbed climbed 0.9 percent, in contrast to a 1.5 percent decrease in the previous month.
Global Economic
Global Economic – The global economy is the worldwide system of trade, production, and finance that connects countries. It involves the exchange of goods, services, and money across borders, driven by businesses, governments, and consumers. This system shapes jobs, wealth, and growth everywhere.
ADB Raises Developing Asias Growth Outlook
Gold Silver Reports — ADB Raises Developing Asias Growth Outlook — The Asian Development Bank (ADB) raised its developing Asias growth outlook citing stronger-than-expected export demand. In its Asian Development Outlook, released Thursday, the bank upgraded developing Asias growth outlook for 2017 to 5.9% from 5.7%.
Dollar Falls as U.S. Reform Hopes Dim; Gold Climbs: Markets Wrap
Gold Silver Reports — The dollar slid back to a 10-month low as President Donald Trump’s economic revitalization agenda once again faltered. European stocks dropped as some earnings disappointed, and gold climbed to the highest in two weeks.
US Weekly Jobless Claims Decrease To 247,000
Gold Silver Reports — US Weekly Jobless Claims Decrease To 247,000 — US first-time claims for unemployment benefits saw a modest decrease in the week ended July 8th, according to a report released by the Labor Department on Thursday.
Gold Futures Jump After Yellen’s Remarks
Gold Silver Reports — The gold market rendered a quick dovish read on Federal Reserve Chair Janet Yellen’s prepared testimony to Congress. Yellen said Wednesday that “considerable uncertainty always attends the economic outlook,” citing “uncertainty about when — and how much — inflation will respond to tightening resource utilization.”
GST May Lead to Inflation in the Short Run
Gold Silver Reports — The government may see a revenue loss of around `1 lakh crore and some jump in inflation in the coming year due to goods and services tax (GST), Thomas Isaac, Kerala’s finance minissaid on Thursday.
Economic Chaos Fuels Gold Mining Rush in Africa’s Newest Nation
Gold Silver Reports — After South Sudan’s peace deal collapsed, gun battles rocked the capital and soldiers ransacked his clothing store, Ahmed al-Nur faced the economic crisis in a trade that’s had an unexpected boost from the new wave of violence: gold.