While gold dipped below $ 2,500 per ounce, Goldman Sachs commodity analysts remain optimistic, suggesting gold could experience a “potential gain of 8%” amid the “current softening cyclical environment.” Goldman market strategists are particularly confident in this precious metal, stating that, out of all commodities, they have the “highest confidence” in gold. Gold Dips, …
Paraguayan authorities detected and shut down an illegal bitcoin mining farm that had over 2,700 miners connected directly to the country’s power grid. The operation, carried out in the city of Saltos de Guaira and situated near a national power facility, was deemed by authorities as the largest operation of its kind. Paraguayan Authorities Bust […]
The Abu Dhabi Agriculture and Food Safety Authority in the UAE has issued a new advisory prohibiting the use of farms for cryptocurrency mining. The advisory explicitly states that farms cannot be repurposed for cryptocurrency mining, which authorities consider a “misuse of the farm for purposes other than its intended use. Farmers caught engaging in […]
Goldman Sachs, a leading investment banking institution, has updated its gold price forecast due to the unforeseen strong performance of the metal in 2024. In a note directed to investors, the bank expects gold to reach $ 2,700 per ounce by year’s end, pushed by non-traditional factors. Goldman Sachs Updates Gold Price Outlook to …
The exchange rate of the Nigerian currency versus the greenback recently plunged to an all-time low of NGN860:USD1. The naira’s depreciation has been attributed to shortages of foreign exchange on the official market and the rising demand for forex. The Central Bank of Nigeria (CBN) said it has revoked the licenses of nearly 2,700 bureaux […]