Business
Gold Rises as Silver Swings Amid Global Market Turbulence
Gold rises amid market turbulence as silver swings sharply, CME raises margins, and investors seek safe havens during global stock selloffs
Gold prices climbed sharply on Friday while silver experienced extreme swings, reflecting heightened volatility in global markets. The movements followed a selloff in equities as investors sought refuge amid uncertainty.
Also read: Ondo State @50: A Golden Jubilee or a Moment for Reflection?
By 05:52 GMT, spot gold rose 2.3% to $4,879.45 per ounce, up 0.3% for the week.
U.S. gold futures for April delivery edged up 0.2% to $4,897.20 per ounce, reinforcing gold’s role as a safe-haven asset during turbulent trading conditions.
Silver, in contrast, surged 3.8% to $73.91 per ounce after plunging roughly 10% earlier in Asian trade.
The metal has faced significant pressure in recent weeks, dropping more than 13% for the week, following an 18% fall the previous week its steepest weekly decline since 2011.
China’s UBS SDIC Silver Futures Fund also hit its 10% daily limit, marking its sixth consecutive session of decline.
Market analysts attributed the swings to deteriorating risk sentiment. Ilya Spivak, head of global macro at Tastylive, said: “In this environment, gold is holding its own while silver is caving in under the risk-off mood.”
The CME Group responded to the turbulence by raising margin requirements for gold and silver contracts for the third time this year, aiming to reduce risk amid volatile trading.
Also read: Adekunle Gold Honoured with Street Named After Him in Lagos
Other precious metals saw modest gains on Friday, with spot platinum rising 0.4% to $1,993.95 per ounce and palladium climbing 2.2% to $1,651.74, though both remain set to end the week lower.
Business
Can African Engineers Compete Globally? ChipMango Is Creating Opportunities in the semiconductor Industry
The semiconductor industry requires highly specialised engineering knowledge.
For African engineers, gaining access to professional tools, industry experience and international opportunities can open
important doors.
ChipMango is working at the intersection of talent development and commercial engineering, creating pathways for African expertise to contribute to a global industry.
The growth of businesses like ChipMango also highlights the importance of investment in Africa’s innovation ecosystem. Through Boost Africa, a joint initiative of the EIB and African Development Bank, supported by the European Union, the European Investment Bank helps mobilise financing through venture capital funds for innovative African businesses. Watch the video to hear the story behind ChipMango.
Watch the video:
Business
From Classroom to Industry: How ChipMango Is Preparing African Engineers for the Semiconductor Market
Studying engineering is one thing. Having the opportunity to apply that knowledge to real industry projects is another.
ChipMango connects industry-aligned learning with practical semiconductor design and verification work, giving
engineers a pathway to develop skills relevant to commercial projects.
Its work illustrates why investment in African innovation must also consider the talent, technical expertise and infrastructure required to build competitive businesses.
Through Boost Africa, the European Investment Bank (EIB) supports African entrepreneurship by investing through venture capital funds, helping innovative businesses access the capital and support they need to develop and grow.
Watch the video to learn more about ChipMango’s approach.
Watch the video:
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