
Startups on the Rise: Africa's Bold New Voices
Owusu Akoto, CEO, FreezeLink; Chilufya Mutale-Mwila, Co-Founder & Chief Visionary Officer, eShandi; and Dennis Mwangi, Managing Partner, Thalia Psychotherapy spotlight African startups worth watching and how innovation across the continent is addressing critical needs and creating new opportunities with Bloomberg's Jennifer Zabasajja at the 2025 Qatar Economic Forum, Powered by Bloomberg. (Source: Bloomberg)
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Bloomberg
an hour ago
- Bloomberg
Trump's Twists and Turns Over Iran Leave Oil Traders Hanging
The oil market is wrestling with Donald Trump's next act in the conflict between Iran and Israel, with the US president's every utterance over the fighting seemingly capable of spiking or crashing prices. In a wild week, Brent futures have surged 11% from before Israel attacked its nemesis, but with sharp moves up and down from one day to the next.
Yahoo
2 hours ago
- Yahoo
Gold prices should hit $4,000 as U.S. deficits may overshadow the Israel-Iran conflict, BofA says
Wars and geopolitical conflicts typically aren't long-term growth drivers for gold prices, according to analysts at Bank of America, which sees the precious metal reaching $4,000 an ounce over the next year. Despite the Israel-Iran conflict heating up, the outlook for gold is likely to be swayed more by the U.S. budget deficit. Gold is often seen as a safe-haven asset during times of global turmoil, but wars and geopolitical conflicts typically aren't long-term growth drivers for gold prices, according to analysts at Bank of America. In fact, gold has actually dipped 2% in the week since Israel began its airstrikes on Iran. Meanwhile, tensions are ramping as reports Saturday said B-2 stealth bombers are headed over the Pacific. That's as President Donald Trump weighs involvement in the conflict, potentially with bombers dropping massive 'bunker busters' on heavily fortified Iranian nuclear sites. In a note on Friday, BofA analysts said they expect gold prices to reach $4,000 per ounce in the next year, representing an 18% jump from current levels. 'While the war between Israel and Iran can always escalate, conflicts are not usually a sustained bullish price driver,' they wrote. 'As such, the trajectory of the US budget negotiations will be critical, and if fiscal shortfalls don't decline, the fallout from that plus market volatility may end up attracting more buyers.' The Israel-Iran conflict has drawn attention away from Trump's tax-and-spending bill making its way through Congress. While the House and Senate versions have key differences that need to be reconciled before it can become law, the bill's fiscal impact is still expected to add trillions of dollars to U.S. deficits in the coming years. That's raised fears about the sustainability of U.S. debt and global demand for the flood of Treasury bonds that will be issued to finance all the red ink. And amid Trump's trade war, the U.S. dollar—traditionally viewed as a haven asset—has suffered as well, slumping against other top currencies and providing more upside to gold. Central banks around the world have dumped $48 billion in Treasuries since late March alone. At the same time, central banks keep buying gold, continuing a trend that began years earlier. A recent survey from the World Gold Council found that geopolitical instability and potential trade conflicts are chief reasons why central banks in emerging economies are shifting toward gold at a much faster rate than those in advanced economies. BofA estimated the central banks' gold holdings are now equivalent to just under 18% of outstanding U.S. public debt, up from 13% a decade ago. 'That tally should be a warning for US policymakers. Ongoing apprehension over trade and US fiscal deficits may well divert more central bank purchases away from US Treasuries to gold,' analysts warned. Meanwhile, the market still doesn't appear to be overexposed to gold. BofA estimated that investors have allocated just 3.5% of their portfolios to gold. And regardless of how Congress ends up rewriting the budget bill, analysts said deficits will remain elevated. 'Therefore, market concerns over fiscal sustainability are unlikely to fade no matter the result of Senate negotiations,' BofA predicted. 'Rates volatility and a weaker USD should then keep gold supported, especially if the US Treasury or the Fed are ultimately forced to step in and support markets.' This story was originally featured on
Yahoo
3 hours ago
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Nvidia (NVDA) Rises After Cathie Wood Rebuilds $18.5M Stake Near All-Time High
Cathie Wood's Ark Innovation ETF (ARKK, Financials) resumed its position in Nvidia (NVDA, Financials), purchasing 128,163 shares valued at approximately $18.5 million on June 16, as the stock trades just 2.7% below its all-time high of $149.41. The move marks a reversal from 2022, when Wood exited her Nvidia position amid tightening U.S. export controls and macroeconomic concerns. She began rebuilding the stake in April following eased trade tensions and the Trump administration's decision to roll back AI-related export restrictions. Warning! GuruFocus has detected 4 Warning Signs with NVDA. The buy came shortly after Nvidia reported fiscal first-quarter results on May 28, with adjusted earnings of 96 cents per share on $44.06 billion in revenue, beating expectations of 93 cents and $43.31 billion, respectively. For the July quarter, the company forecast $45 billion in revenue, nearly $1 billion below consensus estimates, citing the impact of chip restrictions to China. Nvidia said revenue would have been about $8 billion higher without those curbs. China accounted for 13% of the company's revenue in the past fiscal year. Despite geopolitical risks, Nvidia stock is up 8.3% year to date. Wood's purchase comes as Ark Innovation ETF gains momentum, rising 15.9% in 2025 through June 18, outpacing the S&P 500's 1.9% increase. Wood's strategy remains focused on innovation platforms such as artificial intelligence, robotics, and blockchain, with Nvidia seen as a core holding aligned with those themes. Her flagship fund, however, has faced volatility, including a 60% decline in 2022 and a five-year annualized return of negative 0.3%, compared with the S&P 500's 15.7%. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data