The US government is facing a potential shutdown as Congress failed to pass a spending bill before the funding deadline on Friday. Essential services like border protection and law enforcement will continue, but non-essential government functions will cease. Tech billionaire Elon Musk opposed the bill, leading to its rejection by Congress, and now Speaker Mike Johnson must find a solution before the midnight deadline to avoid a shutdown and address the debt ceiling issue.
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The Fed's hawkish signal sparked gold jitters — but analysts see support for the precious metal in 2025
The U.S. Federal Reserve surprised markets with a more hawkish outlook on interest rates for 2025, causing gold prices to drop, but analysts predict solid support for the precious metal due to factors like central bank demand and safe-haven appeal. The Fed's updated "dot plot" now indicates two rate cuts next year, raising concerns about potential inflation from President-elect Donald Trump's proposed trade tariffs, leading to a stronger U.S. dollar and lower gold prices. Despite...
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