Yen Pressured As BOJ Holds Rates, Dollar Set For Steep Weekly Drop

Economic

Forex

Summary:

The yen stayed under pressure after the Bank of Japan held rates steady on Friday, as expected, while the U.S. dollar headed for its steepest weekly drop since June as geopolitical tensions and abrupt policy shifts around Greenland unsettled investors.

The yen was slightly weaker at 158.54 following the BOJ's rate decision and after it raised its economic and inflation forecasts, highlighting the central bank's readiness to continue hiking still-low borrowing costs.

Last month, the BOJ raised its policy interest rate to a 30-year high but that has not helped the frail yen. Traders are concerned that a break beyond 160 per dollar could prompt Tokyo to step into the currency market to support the yen.

Moh Siong Sim, FX strategist at OCBC, said the market was hoping the yen's weakness might trigger a more forceful BOJ response but the central bank maintained the same rhetoric - an outcome that was pretty neutral for markets.

"After all, yen indirectly fits into the economic projections if the weakness is sustained," he said.

The spotlight will now be on comments from Governor Kazuo Ueda to gauge when the next hike will come and whether there is any hawkish tilt to support the yen. Ueda will hold a news conference to explain the decision at 0630 GMT.

"Governor Ueda in his remarks will likely lean into a more hawkish direction, which may keep the next meetings 'live' for a further policy rate hike," said Fred Neumann, chief Asia economist at HSBC.

"The Board appears to be leaning more hawkish as well, with one dissenter at today's meeting indicating that further policy rate hikes are on the table."

The yen has been under relentless pressure since Sanae Takaichi took over as Japan's prime minister in October, dropping more than 4% on fiscal concerns and hovering near levels that have spurred verbal warnings and intervention fears.

A bond market rout this week underscored investor nerves about Japan's fiscal position as Takaichi called a snap election for February and promised tax cuts, sending Japanese government bond yields to record highs. They have recovered somewhat since then but investors remain skittish.

Carol Lye, portfolio manager at Brandywine Global, said the authorities have to come up with a more concrete plan to calm the markets. "If there's no action, then it's just words. It's not going to anchor the market down."

"And until they do, I think there's still room for the JGBs across the entire curve to continue being volatile. The rate hikes are also not coming in quickly enough."

DOLLAR SELLING MOMENTUM

The shifting geopolitical landscape has weighed on sentiment this week as Trump said he had secured U.S. access to Greenland in a deal with NATO that came as he backed off tariff threats against Europe and ruled out taking the autonomous territory of Denmark by force.

The dollar has borne the brunt of investor angst in the currency markets as U.S. assets were pummelled at the start of the week amid the intensifying geopolitical tensions.

The dollar index , which measures the U.S. currency against six units, was at 98.366 after dropping 0.58% in the previous session, on course for a 1% slide, its worst weekly performance since June 2025.

The euro was steady at $1.1746, hovering near the three-week high it touched earlier this week, while sterling fetched $1.3496, near a two-week high hit in the previous session.

The Australian dollar was steady at $0.6841, while the New Zealand dollar was 0.3% weaker at $0.59105.

Thierry Wizman, global FX & rates strategist at Macquarie Group, said while a Greenland deal solves the immediate problem of tariffs and invasion, it doesn't solve the core issue of the seeming alienation of allies from one another.

"And that's not a good place to be if you want to preserve the USD's reserve-currency status."

Source: Reuters

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King Ten

Remarks of Officials

Commodity

Bond

Political

Economic

Washington's control over Venezuelan oil exports has sparked a new showdown with China, directly threatening the oil-for-debt deals that Beijing had relied on for repayment. This move further complicates Venezuela's path out of default and sets the stage for a financial clash between the two global superpowers.

China's Stake in Venezuelan Oil

Venezuela is saddled with a foreign debt of approximately $150 billion, and a significant portion of that—an estimated 10%—is owed to China. Until recently, the OPEC nation was servicing these loans by shipping oil directly to China.

This arrangement, however, was upended when the U.S. moved to control revenue from Venezuelan President Nicolas Maduro's government. According to debt experts, the dispute over these oil cargoes could make it much harder for Venezuela to restructure its debt following its 2017 default. It also jeopardizes Beijing's future cooperation in debt restructuring for other developing nations.

"Even under the best circumstances, this was going to be very messy—trying to disentangle where all these creditors stand in the credit hierarchy," said Christopher Hodge, chief economist with Natixis and a former U.S. Treasury official. He noted that while Washington only controls oil sale proceeds, this represents Venezuela's main source of revenue.

"The fact that now America is controlling all the finances into and out of the country... this seems to be unprecedented to me," Hodge added.

The Oil-for-Debt Mechanics

Documents from the state-run oil company PDVSA confirm that for the last five years, three supertankers have been transporting oil between Venezuela and China to cover interest payments under a 2019 deal. These shipments represent only a part of Venezuela's total crude exports to China.

Research from AidData, a lab at the U.S. university William & Mary, shows that cash proceeds from some oil sales to China were deposited into an account controlled by Beijing to service the debt. This allowed China to receive payments even as sanctions and Venezuela's default blocked other creditors.

US Intervention Changes the Game

The Trump administration declared that proceeds from Venezuelan oil sales will now be funneled into a Qatar-based account controlled by Washington. This move gives the U.S. president substantial leverage to decide which creditors get paid and when.

In response, China’s foreign ministry stated that Beijing "has repeatedly stated its position." During a January 7 news conference, Beijing condemned the redirection of the oil exports, insisting that the "legitimate rights and interests of China and other countries in Venezuela must be protected."

A White House spokeswoman, Taylor Rogers, told Reuters that Trump had brokered an oil deal that "will benefit the American and Venezuelan people." A U.S. official later clarified that the administration is allowing China to buy Venezuelan oil, but not at the "unfair, undercut" prices previously offered. Instead, these are now considered private market transactions, not debt payments.

"The people of Venezuela will collect a fair price for their oil from China and other nations," the official said. The Venezuelan communications ministry did not respond to a request for comment.

A Disrupted Creditor Hierarchy

Restructuring advisors warn that the U.S. takeover of Venezuela's oil revenue could upend the established order of creditors. Some $60 billion of Venezuela's bonds went into default in 2017, and a restructuring agreement is critical for the country to borrow again and attract investment.

"All of these things will have the practical effect of subordinating the claims of legacy debtholders," said global sovereign debt expert Lee Buchheit, who questioned whether Trump had the legal authority to determine who gets paid first.

Typically, bilateral lenders negotiate losses together through forums like the Paris Club of creditor nations. This sets a standard for the losses private lenders must also accept.

"Comparability of treatment will be a real challenge, particularly if the U.S. controls the use of oil revenues," noted Mark Walker, a sovereign debt advisor who has worked on potential Venezuelan restructurings.

Broader Risks for Global Debt Deals

If the U.S. pressures China to accept major writedowns on its Venezuelan debt and Beijing refuses, the stalemate could drag out a restructuring and cripple Venezuela's economic recovery.

Jean-Charles Sambor, head of emerging market debt at TT International, which holds Venezuelan bonds, warned this could keep Venezuela "in very dire straits during the foreseeable future." A prolonged crisis would, in turn, limit the amount the country can ultimately repay to any of its creditors.

While China has little immediate leverage—countries rarely take legal action against each other over sovereign loans—it holds a powerful long-term card. Beijing is the world's largest bilateral lender to developing nations, and its cooperation through platforms like the Common Framework has been crucial in recent debt talks for countries like Ghana, Zambia, and Ethiopia.

"China's obvious leverage is to refuse to cooperate in future Common Framework sovereign debt workouts until it feels that it has been treated fairly in Venezuela," Buchheit concluded. "And that threat would have some force."

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Gerik

Economic

Growth accelerates, powered by consumption

Revised figures released on January 22 paint a strikingly strong picture of US output growth. The world’s largest economy expanded at an annualized rate of 4.4% in the third quarter of 2025, slightly above the initial estimate of 4.3% and well ahead of the 3.8% recorded in the previous quarter. This marks the fastest pace of expansion since the third quarter of 2023.

Household consumption remained the dominant engine of growth. Consumer spending, which accounts for roughly 70% of US GDP, grew at a robust 3.5%, underscoring the continued willingness of households to spend despite elevated prices and borrowing costs. External trade also contributed positively, as exports increased while imports declined, providing an additional boost to headline GDP.

Signs of a “K-shaped” recovery deepen

Despite the impressive growth figures, analysts increasingly warn that the US economy is evolving into a “K-shaped” pattern. On one side, higher-income households continue to benefit from rising equity markets and asset prices, reinforcing strong discretionary spending. On the other, lower-income households face stagnant wage growth and persistently high living costs, fueling dissatisfaction that is not fully captured by aggregate GDP data.

This divergence between strong spending data and fragile consumer sentiment highlights a growing imbalance beneath the surface of the expansion, raising questions about its durability if financial conditions tighten further or asset markets lose momentum.

Labor market momentum continues to fade

In contrast to the GDP surge, labor market indicators suggest a clear slowdown. Initial jobless claims rose slightly to 200,000 in the week ending January 17, up 1,000 from the previous week. While still below consensus expectations and historically low, the trend reinforces the view that hiring momentum has weakened.

US employers appear increasingly cautious, adopting a stance of “less hiring, fewer layoffs.” In December 2025, the economy added just 50,000 jobs, little changed from November’s downwardly revised figure. Since March 2025, average monthly job creation has fallen to just 28,000, a dramatic slowdown from the roughly 400,000 jobs per month seen during the post-pandemic boom of 2021–2023.

Job openings have also declined, slipping from 7.4 million in October to 7.1 million by the end of November. Even so, the unemployment rate remains relatively low at 4.4%, masking the loss of underlying dynamism in hiring.

A policy dilemma for the Federal Reserve

This uneven economic backdrop presents a difficult challenge for the Federal Reserve ahead of its policy meeting next week. Most economists expect the central bank to keep its benchmark interest rate unchanged after three consecutive rate cuts, as policymakers weigh strong growth against weakening labor indicators.

Fed Chair Jerome Powell has recently cautioned that labor market conditions may be weaker than headline figures suggest. He noted that recent employment data could be revised down by as much as 60,000 positions, implying that employers may have been cutting an average of around 25,000 jobs per month since spring 2025. This period coincides with the introduction of broad import tariffs under the Trump administration, adding another layer of uncertainty to the outlook.

Corporate signals point to further strain

Adding to concerns, several major US corporations including UPS, General Motors, Amazon and Verizon have announced workforce reductions. These moves suggest that corporate confidence is softening and that labor market pressures could intensify in the coming months, even as overall economic growth remains strong.

Taken together, the latest data reveal an economy moving at two different speeds. Output and spending remain resilient, but the labor market is steadily losing momentum. For policymakers, this contrast increases the risk of a policy misstep, as decisions made on the basis of strong growth alone may overlook mounting weaknesses beneath the surface.

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Political

A peace body with an unusually broad mandate

The so-called “Peace Council” was initially framed as an institution to oversee Gaza’s reconstruction, but its founding charter makes clear that its scope is far wider. According to documents cited by AFP, the council defines itself as an international body aimed at restoring stability, rebuilding legitimate governance and securing long-term peace in regions affected or threatened by conflict, without limiting its remit to Palestine or the Middle East.

At the center of the structure sits Donald Trump, who would serve simultaneously as council chair and the United States’ representative. The charter grants the chair sweeping authority, including the unilateral power to create, amend or dissolve subsidiary bodies deemed necessary to fulfill the council’s mission. In effect, the institution is designed less like a multilateral organization and more like a centralized executive platform.

Governance concentrated in one office

Under the proposed rules, Trump would also appoint the council’s executive leadership, described as “global-scale leaders,” serving two-year terms and removable at the chair’s discretion. The chair themselves can only be replaced through voluntary resignation or incapacity. A US official has confirmed that Trump could remain chair even after leaving the White House, unless he chooses to step down, underscoring how closely the institution is tied to his personal authority rather than to the US presidency as an office.

The executive board would include figures closely associated with Trump’s foreign-policy circle, among them US Secretary of State Marco Rubio, special envoy Steve Witkoff, former UK prime minister Tony Blair, Trump’s son-in-law Jared Kushner, and financier Marc Rowan. Decisions would be taken by majority vote, with the chair casting the deciding ballot in the event of a tie.

Membership by invitation and by cheque

Perhaps the most controversial element is the financial dimension. Membership is by invitation from Trump and limited to heads of state or government. While the charter states that contributions are formally voluntary, it introduces a crucial exception: countries that contribute more than $1 billion in cash during the council’s first year are exempt from the standard three-year membership limit and effectively gain a permanent seat.

This structure blurs the line between voluntary funding and paid influence. While US officials stress that there is no mandatory fee, the implication is clear: financial commitment buys longevity and, by extension, greater sway in shaping the council’s agenda.

Who joins and who stays away

Invitations have reportedly gone out to dozens of countries, spanning close US allies and geopolitical rivals alike. China has been invited, as have Vladimir Putin and Volodymyr Zelensky, despite the ongoing war between their countries.

Some governments moved quickly to signal participation. Hungary’s Prime Minister Viktor Orbán, one of Trump’s strongest supporters within the European Union, has agreed to join, as have the United Arab Emirates. Canada has also indicated it will participate, while explicitly ruling out any $1 billion payment for permanent status.

Others have drawn a firm line. France has said it will not join, a decision that prompted Trump to threaten punitive tariffs on French wine. Ukrainian officials have expressed discomfort at the prospect of sitting on the same council as Russia, while the United Kingdom has voiced concerns about Putin’s inclusion.

A transactional vision of global governance

Seen in context, the “Peace Council” reflects a broader pattern in Trump’s approach to international relations. It prioritizes deal-making over institutions, personal authority over procedural constraint, and financial leverage over consensus-based legitimacy. The offer of permanent membership in exchange for a billion-dollar contribution is not merely a funding mechanism; it reframes diplomacy as a transaction in which influence is explicitly priced.

Supporters may argue that such a structure could cut through bureaucratic inertia and mobilize resources quickly in crisis zones. Critics counter that it undermines international law norms, marginalizes existing multilateral bodies and risks turning peacebuilding into a marketplace dominated by wealth and political loyalty.

Ultimately, the proposed council says less about conflict resolution mechanics and more about how Trump envisions global order: centralized, personalized and unapologetically transactional. Whether it becomes an operational institution or remains a provocative concept, it highlights a growing tension between traditional multilateralism and a new, power-driven model of diplomacy.

Source: AFP

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Economic

From fandom to economic force

India’s live entertainment sector is undergoing a structural shift, driven primarily by young, urban and increasingly affluent consumers who prioritize experiences over material consumption. What was once a niche cultural activity has evolved into a mass-market phenomenon, with concerts, festivals and comedy shows becoming recurring lifestyle spending rather than occasional splurges. This change reflects a broader transformation in consumption patterns, where social experiences, visibility and identity play a central role in how discretionary income is allocated.

The demographic backdrop is critical. India is set to add more than 100 million people to its working-age population between 2024 and 2030, the largest increase globally. At the same time, income per capita is projected to grow faster than in other major emerging markets. Together, these trends are expanding the pool of consumers who can afford premium entertainment and are willing to spend on live experiences multiple times a year.

Scale, frequency and premiumization

The growth is no longer limited to headline-grabbing international acts. In 2025 alone, India hosted more than 34,000 live events across concerts, theater and comedy, marking a 17% expansion in the sector. Attendance is heavily skewed toward younger audiences, with roughly 70% of attendees under 35 and more than half under 30. This age profile reinforces repeat attendance, as live entertainment becomes embedded into regular social life rather than a once-a-year event.

A notable feature of this expansion is premiumization. Demand for VIP sections, hospitality upgrades and exclusive viewing experiences has doubled, indicating that consumers are not just attending more events but are also willing to pay more for comfort, status and convenience. This mirrors patterns previously seen in mature markets, suggesting India’s live entertainment economy is moving up the value chain rather than relying solely on volume growth.

Beyond metros: the rise of regional hubs

One of the most economically significant shifts is the spread of live entertainment beyond traditional metropolitan centers. Smaller cities and regional hubs are seeing sharp increases in attendance, driven by digital platforms that flatten access to global artists and enable fandom to travel easily across geographies. Cities such as Shillong, Guwahati and Nashik recorded triple-digit growth in live event footfall in 2025, challenging the long-held assumption that large-scale concerts are viable only in top-tier metros.

This geographic diversification matters because it broadens the economic impact. When concerts move into smaller cities, spending on hotels, transport, food and retail follows, creating localized economic boosts that are more evenly distributed across the country.

Spillover effects across the economy

The spillover effects from live entertainment are increasingly measurable. Large-scale concerts now function as temporary economic catalysts, driving tourism inflows and lifting revenues across multiple sectors. For example, Coldplay’s concerts in Ahmedabad generated billions of rupees in economic value, benefiting hotels, airlines, local transport operators and retailers. These effects highlight that live entertainment is no longer just a cultural product, but part of a broader experience economy with multiplier effects.

Recognizing this potential, India has set an explicit ambition to rank among the world’s top five live entertainment destinations by 2030. If achieved, this would position concerts and festivals alongside manufacturing, technology and tourism as contributors to economic growth.

Infrastructure as the binding constraint

Despite rapid demand growth, infrastructure remains the sector’s main bottleneck. India has fewer than ten purpose-built venues capable of hosting crowds above 10,000 in major cities, and almost none in smaller urban centers. As audience expectations rise, shortcomings in crowd management, transport access, safety and venue quality become more visible, risking friction that could slow growth if not addressed.

To sustain momentum, investment will need to extend beyond artist bookings and marketing into physical venues, logistics, security systems and digital ticketing integration. The success of recent large-scale concerts has demonstrated feasibility, but scaling nationally will require coordinated public and private investment.

A consumer economy inflection point

India’s live entertainment boom reflects a deeper shift in the consumer economy. As basic consumption stabilizes for a growing middle and upper-middle class, spending is rotating toward experiences that offer emotional value, social capital and memorability. Live music and events sit squarely at this intersection.

If infrastructure gaps are addressed and regional expansion continues, live entertainment could become a durable pillar of India’s domestic demand story. Rather than a passing youth-driven trend, concerts are increasingly shaping urban economies, travel patterns and leisure spending, signaling that India’s experience economy is approaching a decisive breakout phase.

Source: CNBC

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Economic

Commodity

Poland’s strategic bet on gold

The National Bank of Poland has emerged as one of the most aggressive gold buyers among central banks. With holdings of roughly 550 tonnes valued at more than €63 billion, Poland is not merely increasing its reserve buffer but clearly elevating gold to a core pillar of national financial strategy.

NBP President Adam Glapiński has consistently framed gold as an asset free from credit risk, independent of foreign monetary policy, and resilient in periods of systemic stress. In an environment defined by geopolitical fragmentation, sanctions risk and monetary uncertainty, that argument has gained traction well beyond Poland.

Overtaking the ECB: More than symbolism

Poland’s gold holdings now exceed the roughly 506.5 tonnes held by the European Central Bank. While the ECB sets monetary policy for the euro area, its own gold reserves are relatively modest, with most bullion held by national central banks instead.

Against this backdrop, Poland’s position strengthens its financial standing within Europe and enhances policy flexibility should regional or global shocks intensify. The comparison highlights a broader tension between centralized monetary authority and national balance-sheet resilience.

A rapid shift in reserve composition

Gold accounted for less than 17% of Poland’s foreign-exchange reserves in 2024. By the end of 2025, that share had surged above 28%, marking one of the fastest reallocations toward gold among central banks globally. This was not a reactive move but a proactive restructuring of reserves during a period of heightened market volatility.

NBP’s ambitions go further. The long-term target is to raise gold holdings to 700 tonnes, with an estimated value of around 400 billion zloty. That objective suggests Poland views gold not as a tactical hedge, but as a permanent anchor of its reserve framework.

A global wave of central bank gold buying

According to the World Gold Council, central banks bought gold aggressively throughout 2025. Roughly 95% of surveyed institutions expect total global gold reserves to continue rising over the next 12 months.

The main drivers are diversification, reduced reliance on the US dollar, and protection against monetary and geopolitical shocks. Some countries, notably China and Russia, are widely believed to underreport purchases, fuelling speculation that gold may play a larger role in any future alternative monetary architecture.

Record prices and a bullish 2026 outlook

Poland’s buying spree has coincided with a historic rally in gold prices. While analysts expect the pace of gains to moderate in 2026, medium-term forecasts remain constructive. Goldman Sachs has raised its gold price outlook to $4,900 per ounce, while J.P. Morgan has suggested prices could reach as high as $5,300 per ounce if central-bank and investor demand remains strong.

Central bank purchases do not directly set prices in the short run, but they underpin market confidence and reinforce gold’s role as the ultimate safe-haven asset for both institutional and private investors.

Gold’s return as a strategic asset

Poland’s experience illustrates how gold is reclaiming a central role in national financial security strategies. Critics argue that gold generates no yield compared with bonds, but in a world of elevated uncertainty, policymakers increasingly prioritize capital preservation, liquidity and independence over nominal returns.

Crossing the 550-tonne threshold is unlikely to be the end of Poland’s accumulation. As the global financial order continues to evolve under geopolitical strain and monetary realignment, Poland is positioning itself at the forefront of a renewed central-bank embrace of gold as a cornerstone asset rather than a symbolic reserve.

Source: Euronews

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Central Bank

Remarks of Officials

Data Interpretation

Daily News

Economic

Singapore's core inflation remained at its highest level for the year in December, according to official data released on January 23, signaling potential price pressures heading into 2026.

While the month-end figure was elevated, inflation over the full year of 2025 showed a significant cooling trend. The joint report from the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry (MTI) provides a detailed look at the nation's price dynamics.

Full-Year 2025 Inflation Review

For 2025 as a whole, core inflation averaged 0.7%, a sharp decline from the 2.8% recorded in 2024. This core metric, which excludes private transport and accommodation costs, is a key indicator of household expenses. The final figure, however, was slightly higher than the official forecast of around 0.5%.

Similarly, overall inflation for 2025 averaged 0.9%, falling from 2.4% the previous year.

A Closer Look at December's Numbers

In December, both core and overall inflation registered at 1.2%, figures that were unchanged from November. This level marks the highest core inflation reading since December 2024.

Several key categories influenced the December data:

• Private Transport: Inflation in this sector accelerated to 3.7% from 3.5% in November, primarily due to a smaller decline in petrol prices.

• Utilities: Electricity and gas prices fell by 4.2%, a slightly faster drop than the 4.1% seen in November, driven by a larger fall in electricity costs.

• Retail Goods: Prices for retail and other goods were flat in December after a 0.3% rise in November. Higher prices for alcoholic beverages and tobacco were offset by lower costs for personal effects and furniture.

• Stable Categories: Inflation for food, services, and accommodation showed no change from the previous month.

Outlook for 2026: A Projected Rise in Inflation

Looking ahead, MAS and MTI project that both core and overall inflation will rise in 2026. This forecast is based on several domestic and external factors.

On the international front, imported costs are expected to continue declining, but at a slower pace. While global crude oil prices are forecast to fall, regional inflation is anticipated to pick up modestly.

Domestically, unit labor costs are expected to increase as productivity growth normalizes. At the same time, private consumption demand is likely to remain steady, supporting price levels.

The official report noted that the inflation outlook remains subject to uncertainties. MAS and MTI did not reiterate their previous 2026 forecast for inflation to fall between 0.5% and 1.5%. An updated forecast will be provided in the upcoming monetary policy statement on January 29.

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Yen Pressured As BOJ Holds Rates, Dollar Set For Steep Weekly Drop

DOLLAR SELLING MOMENTUM

Source: Reuters

Venezuela Oil Seizure Sparks US-China Debt Standoff

China's Stake in Venezuelan Oil

The Oil-for-Debt Mechanics

US Intervention Changes the Game

A Disrupted Creditor Hierarchy

Broader Risks for Global Debt Deals

A Two-Speed US Economy: Strong Growth Masks a Cooling Labor Market

Growth accelerates, powered by consumption

Signs of a “K-shaped” recovery deepen

Labor market momentum continues to fade

A policy dilemma for the Federal Reserve

Corporate signals point to further strain

What Trump’s “Peace Council” Reveals: Power, Payment and a New Diplomatic Model

A peace body with an unusually broad mandate

Governance concentrated in one office

Membership by invitation and by cheque

Who joins and who stays away

A transactional vision of global governance

Source: AFP

India’s Live Music Boom Is Becoming a Real Economy, Not Just a Trend

From fandom to economic force

Scale, frequency and premiumization

Beyond metros: the rise of regional hubs

Spillover effects across the economy

Infrastructure as the binding constraint

A consumer economy inflection point

Source: CNBC

Poland’s Gold Accumulation Surpasses the ECB: A Strategic Signal in a Shifting Monetary Order

Poland’s strategic bet on gold

Overtaking the ECB: More than symbolism

A rapid shift in reserve composition

A global wave of central bank gold buying

Record prices and a bullish 2026 outlook

Gold’s return as a strategic asset

Source: Euronews

Singapore Inflation Ends 2025 at Yearly High

Full-Year 2025 Inflation Review

A Closer Look at December's Numbers

Outlook for 2026: A Projected Rise in Inflation

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