Gold, Silver Near Record Highs as US Data Support Rate-Cut Bets

The Irish Central Bank has raised its growth forecasts, indicating that the economy is showing resilience against headwinds from the US economic landscape. This adjustment reflects a positive outlook amid global uncertainties, particularly those stemming from the US market.

Gold prices remained steady during the morning Asian session, buoyed by expectations of potential interest rate cuts from the Federal Reserve. This trend reflects a growing investor sentiment towards gold as a safe-haven asset amid economic uncertainties.

The U.S. is considering the reclassification of marijuana, which could significantly impact the cannabis industry. This potential change aims to align federal regulations with the evolving public perception and state-level legalization efforts surrounding cannabis use and sales.

Former President Donald Trump has signed an executive order aimed at easing federal regulations on marijuana, a move that has generated optimism within the cannabis industry. This decision is seen as a significant shift in the regulatory landscape, potentially leading to increased investment and growth opportunities in the sector.

Asian equities experienced gains following the release of US inflation data, which indicated a cooling trend, thereby strengthening the case for potential interest-rate cuts by the Federal Reserve. This positive sentiment also contributed to a rise in American stocks, alleviating previous concerns in the tech sector.

Australia has revised its resource export earnings upward by 4%, highlighting a significant boost in the gold sector, which is a key component of the country's economy. This adjustment reflects the ongoing strength of gold prices, which have been buoyed by global economic conditions and investor demand for safe-haven assets.

The Trump family has entered into a significant deal with TAE Technologies, a fusion energy firm, which includes a joint venture with the UK government's atomic laboratory. This partnership aims to advance nuclear fusion technology, reflecting a growing interest in sustainable energy solutions.

Belarus is preparing for a significant agreement with the United States, as stated by President Lukashenko, emphasizing that this deal will not come at the expense of its relationship with Russia. This development indicates a potential shift in Belarus's foreign policy as it seeks to engage more with the US while maintaining its ties with Moscow.