Bengaluru — Gold prices edged higher on Tuesday, drawing some support from a subdued dollar as investors assessed the severity of the Omicron coronavirus variant’s impact on the global economy.
“This is the kind of news that should have given a bigger lift to gold. The fact that it hasn’t suggests there’s a lot of underlying weakness in gold,” said DailyFX currency strategist Ilya Spivak, adding negative inflation-adjusted Treasury yields were keeping gold afloat. Investors now await Federal Reserve chair Jerome Powell’s congressional testimony later this week after his warning on Monday that the new Covid-19 strain muddied the central bank’s inflation outlook and prices could continue to rise for longer than earlier thought.
South Africa can jump start its economy if it does the following: 1-Remove the race based BBBEE laws! 2-Remove all labour law red tape! 3-Reduce Corporate Income Tax to 22%! (This will be lowered to 27% next year tho) .... TalkingAfrica
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