In the last 24 hours, markets have been shaken by breaking news in oil jumps, gold climbs, and inflation bites. From sudden spikes in crude oil prices to gold hitting record highs, global investors are on high alert. Rising inflation pressures, geopolitical tensions, and currency shifts like the BRICS push are driving dramatic moves across commodities and financial markets. Here’s your full market update covering the most important events affecting business and finance today.
1. BRICS Currency Push Gains Momentum
In the past 24 hours, the BRICS alliance Brazil, Russia, India, China, and South Africa — has taken another step towards creating a shared currency for trade. According to recent talks, the move aims to reduce reliance on the US dollar in global transactions. Analysts say this could reshape the world economy by offering an alternative to the traditional reserve currency system.
Source: Reuters
2. Bitcoin Surges Amid BRICS Shift
Bitcoin prices jumped sharply after the BRICS currency update sparked investor interest in alternative assets. As of today, Bitcoin is trading above $63,000, marking a strong rebound in digital assets. Traders believe the BRICS news has reinforced the long-term potential of cryptocurrencies as a hedge against currency shifts.
Source: CoinDesk
3. Oil Prices Spike on Supply Concerns
Global oil prices have risen by nearly 3% in the last 24 hours after fresh supply disruptions were reported in the Middle East. Brent crude is now trading at $88 per barrel, pushing up fuel and transportation costs worldwide. Economists warn that this could add more pressure to already high inflation rates.
Source: Bloomberg
4. Gold Climbs as Investors Seek Safety
Gold prices surged to $2,540 per ounce, a record high in 2025, as investors turned to safe-haven assets amid market uncertainty. The combination of BRICS currency talks, volatile oil markets, and inflation fears has made gold a top pick for cautious investors.
Source: Kitco
5. Inflation Concerns Resurface
Inflation remains a top concern globally, with new data showing higher-than-expected price growth in several major economies. Rising oil prices, combined with food and housing cost increases, have sparked fears that central banks may need to keep interest rates higher for longer.
Source: IMF
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