Money

Protesters storm LVMH Paris store over pension reform changes

Published

3 years ago

April 14, 2023

ticker NEWS

Union activists have barged into the Paris headquarters of luxury goods company LVMH and fill it with red smoke.

Violence erupted in Paris and other cities, as riot police charged protesters and fired tear gas.

Trade unions urged a show of force, a day before the Constitutional Council rules on the legality of a bill that will raise the state pension age by two years to 64.

It was the 12th day of nationwide protests against President Emmanuel Macron’s pension reform proposal since mid-January.

Striking workers disrupted garbage collection in Paris and blocked river traffic on the Rhine in eastern France.

If the Council approves the bill, possibly with some caveats, the government will be entitled to promulgate it.

It’ll hope that closes a long chapter of sometimes violent protests.

But demonstrators said they would keep up the fight even if the Council gave a green light.

They want a referendum on the bill or for it to go back to parliament.

The industrial action has lost some steam though.

Thinner crowds have rallied in the past few weeks compared with the more-than 1 million-strong numbers seen early on.

Money

Bitcoin declines to $104,782 amid trade tensions

Bitcoin drops to $104,782 as Trump intensifies US-China trade tensions, impacting global markets

Published

15 hours ago

October 12, 2025

Ahron Young

Bitcoin drops to $104,782 as Trump intensifies US-China trade tensions, impacting global markets

In Short:
– Bitcoin dropped to $104,782 due to heightened US-China trade tensions.
– The S&P 500 Index fell over 2% amid escalating market uncertainty.

Bitcoin fell to $104,782 amid escalating US-China trade tensions.On October 10, U.S. President Donald Trump announced a significant increase in tariffs on Chinese goods, raising them to 100%.

The decision follows China’s recent restrictions on rare earth mineral exports, which are crucial for various technologies and manufacturing sectors.

The trade dispute affected global markets, resulting in a more than 2% decline in the benchmark S&P 500 Index.

Bitcoin experienced an 8.4% drop at $104,782 by 17:20 ET, while Ethereum, the second-largest cryptocurrency, fell by 5.8% to $3,637 at 17:21 ET.

Money

Gold plunges as investors react to Middle East ceasefire

Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.

Published

3 days ago

October 10, 2025

ticker NEWS

Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.

Gold prices have fallen sharply, dropping over two per cent to below $4,000 per ounce, as investors took profits following the announcement of a Gaza ceasefire agreement. The deal between Israel and Hamas triggered a shift away from safe-haven assets, with silver and platinum also sliding.

The U.S. dollar strengthened as markets responded to the news, making precious metals more expensive for foreign buyers. Analysts say the pullback is likely temporary, with long-term demand for gold and silver expected to remain strong amid global instability and rising debt levels.

Market experts warn that volatility will continue as geopolitical tensions persist, even as short-term optimism grows around the Middle East peace process.

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Money

Gold and silver prices drop after Gaza ceasefire

Gold dips below $4,000/oz amid profit-taking and Gaza ceasefire; silver also softens from record highs

Published

3 days ago

October 10, 2025

Ahron Young

Gold dips below $4,000/oz amid profit-taking and Gaza ceasefire; silver also softens from record highs

In Short:
– Gold prices fell over 2% to below $4,000 per ounce due to a stronger dollar and profit-taking.
– Silver eased to $48.93 per ounce, influenced by market activity and ongoing high demand despite supply issues.

Gold prices fell over 2% on Thursday, dropping below $4,000 per ounce. The decline followed a strong rise earlier in the year and was influenced by a stronger dollar and profit-taking after a ceasefire deal between Israel and Hamas.Spot gold decreased to $3,959.48 per ounce, while U.S. gold futures for December delivery settled at $3,972.6.

Silver also experienced a slight decline, easing from its record high to $48.93 per ounce. The dollar index increased, making gold more expensive for overseas buyers.

Traders noted increased activity in the market as profit-taking coincided with reduced tensions in a historically volatile region.

An independent metals trader stated that while gold and silver may need to consolidate further, the underlying demand drivers remain intact.

Market Overview

Gold surpassed $4,000 per ounce on Wednesday, reaching $4,059.05, boosted by geopolitical tensions and strong demand from central banks. The asset has gained about 52% this year, reflecting a significant increase due to various economic factors. The U.S. central bank’s decision to cut rates in September also contributed to the rally, with expectations for future cuts in the coming months.

Silver’s price increase of 69% this year is tied closely to similar economic trends impacting gold. Notably, liquidity issues in the silver market are being exacerbated by strong demand and tight supply conditions. Other precious metals, such as platinum and palladium, also saw declines during this period.