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Gold Prices Drop 2% as Rising US Treasury Yields Impact Demand

New york: Gold prices experienced a significant decline of approximately 2% on Tuesday, driven by the surge in US Treasury yields, which has increased the opportunity cost of holding non-yielding assets. The precious metal’s spot price fell to around …

World Bank Estimates Venezuela Earthquake Damage at $19.6B

Ankara: The World Bank Group estimated on Thursday that the June 24 earthquakes in Venezuela caused $19.6 billion in direct physical damage. The twin earthquakes registering magnitudes of 7.2 and 7.5 struck the South American nation on June 24, severe…

Hormuz Traffic Falls as Bab el-Mandeb Activity Rises

Ankara: Maritime activity showed an uneven pattern across key chokepoints, as ship crossings dropped in the Strait of Hormuz while the Bab el-Mandeb Strait experienced increased vessel movements, an international maritime tracker reported on Friday.