The US stock markets experienced a sharp drop in share value on Monday as shares in tech giant Apple dropped by 5%, with the Dow Jones losing 2.3% (601 points) and the Nasdaq – a tech specialist market – losing 2.8% share value.
November Gold News 2018
Pound Sterling has fallen in value today by 1.5 cents to $1.283 – lowest level in November so far – due to a combination of Dollar strength and further Brexit concerns.
The United States Mint is reported to have added a 1oz bullion Palladium coin to its production list for 2019. So far the Mint has produced proof editions in for the past two years, with strong sales for its limited issue quantities.
Cryptocurrencies require significantly more energy to generate one US Dollar in value according to a new paper published in the journal Nature Sustainability last week.
The latest figures from the European Commission have forecast growth for each of the member state of the European Union, with the UK, Italy and Denmark occupying the bottom three places for Gross Domestic Product (GDP) growth in 2018.
The forecast sees the UK and Italy slump into a joint last place for 2019, and the UK to be alone at the bottom in 2020, with the predictions made by the European Commission based on a soft Brexit deal.
The results of yesterday’s mid-term elections have been coming through steadily today, with the Democrats gaining enough seats for a majority in the lower house of Congress. Before the voting began, many journalists and pundits were predicting a ‘Blue Wave’ of anti-Trump voting and while it wasn’t quite realised, the Democrats still gained from the Republicans quite comfortably overnight.
Investors are erring on the side of caution today as the United States heads to the ballot box for the Midterm elections. The halfway point in the current administration’s tenure is expected to see the House of Representatives, the lower house of Congress, swing from Republican to Democrat based on current forecasts.
The Bank of England announced that it would not be raising interests yesterday, citing the uncertainty of Brexit as the deciding factor. The Monetary Policy Committee voted 9-0 in favour of keeping rates at their current level, not wanting to commit to a prediction for how beneficial or harmful the UK’s exit from the European Union will be next Spring.