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Pope Francis received an emotional welcome on the island during a visit showing solidarity with migrants fleeing war and poverty. ARIS MESSINIS/AFP/Getty Images Pope Francis confesses in St. Peter's Basilica during the Vatican's Penitential Celebration on Friday, March 4, 2016. Alessandro Di Meo/AP Pope Francis arrives for his visit with prisoners in Santa Cruz, Bolivia, on Friday, July 10, 2015. Franco Origlia/Getty Images Pope Francis and Ecumenical Patriarch Bartholomew I address the faithful in Istanbul on Sunday, November 30, 2014. Gokhan Tan/Getty Images Pope Francis speaks during the feast-day Mass while on a one-day trip to Italy's Calabria region in June 2014.
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Gold subdued as traders gear up for US inflation print
  + stars: | 2024-01-10 | by ( ) www.cnbc.com   time to read: +2 min
A worker handles an Argor-Heraeus SA one kilogram gold bar at Solar Capital Gold Zrt. Spot gold was down 0.3% at $2,023.48 per ounce. U.S. consumer inflation data is due on Thursday. Economists polled by Reuters see year-on-year inflation at 3.2% in December, but think core inflation likely fell to 3.8%, its lowest since mid-2021. "Still, bullion bulls would have no qualms restoring spot gold back above that psychologically important mark once markets get a firmer grasp on the Fed's policy pivot."
Persons: Bob Haberkorn, Michelle Bowman, denting, Han Tan Organizations: Heraeus SA, Solar, Reuters, New York Federal Reserve, Treasury, Exinity Locations: Budapest, Hungary, U.S
CNN —The James Webb Space Telescope has looked into the heart of the Milky Way galaxy, unveiling new features and mysteries within the chaotic region that could help astronomers unravel more details about the early universe. Astronomers used Webb to glimpse Sagittarius C, or Sgr C, an active region of star formation located about 300 light-years from the galaxy’s central supermassive black hole Sagittarius A*. A light-year, equivalent to 5.88 trillion miles (9.46 trillion kilometers), is how far a beam of light travels in one year. Astronomers are still trying to determine what has created the vast amount of energized gas, which surpasses what would normally be released by young massive stars. “Webb has provided us with a ton of data on this extreme environment, and we are just starting to dig into it.”
Persons: James Webb, Webb, , Samuel Crowe, “ There’s, ” Crowe, “ Webb, ” Young, Jonathan Tan, Rubén Fedriani Organizations: CNN, NASA, University of Virginia, Instituto Locations: Andalucía, Spain
Spot gold held its ground at $1,923.09 per ounce by 1200 GMT while U.S. gold futures edged down 0.1% to $1,932.90. The dollar index (.DXY) eased slightly, making dollar-priced bullion more attractive for overseas buyers. Meanwhile, Julius Baer analyst Carsten Menke said that high interest rates are offering other alternatives than gold to safe-haven seekers. Spot silver rose 0.5% to $22.88 an ounce and was on track for a third straight session of gains. Reporting by Arundhati Sarkar and Seher Dareen in Bengaluru Editing by Christina Fincher, David Goodman and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
Persons: Han Tan, Jerome Powell's, Julius Baer, Carsten Menke, Arundhati Sarkar, Seher, Christina Fincher, David Goodman, Louise Heavens Organizations: Federal, Fed, European Central Bank, Thomson Locations: U.S, United States, Sintra, Bengaluru
The Fed's hint of a pause after announcing a quarter-point rate rise on Wednesday, even as it re-stated its commitment to fight inflation, provided relief to markets. "Note the modern-day history book of Fed pauses is very bullish for stocks," Innes said. In Europe, news of the rate hikes in Switzerland and Britain helped push the European-wide STOXX 600 share index (.STOXX) down 0.21%. For bond markets it meant European government bond yields - which reflect borrowing costs - were heading down again. German Bunds were back at 2.25%, having seen 10-year U.S. Treasury yields dip back below 3.5%.
Supreme dollar rules the roost in gold market
  + stars: | 2022-12-30 | by ( Bharat Gautam | Swati Verma | ) www.reuters.com   time to read: +2 min
REUTERS/Alexander ManzyukThe Fed’s fight against inflation is expected to dictate sentiment in precious metals markets next year. Russia’s invasion of Ukraine, surging inflation, COVID-19 restrictions and slowing growth meant precious metals had a mixed 2022. Spot gold at $1,821.50 an ounce at 19:28 GMT is on course to wrap up 2022 about 0.4% lower. Among other precious metals, silver at $23.87 an ounce is set to end the year over 2% up. Nornickel should also complete its smelter maintenance, allowing it to increase output,” according to Heraeus Precious Metals.
Spot gold rose 0.6% to $1,809.20 per ounce by 1136 GMT. A weaker dollar also makes the greenback-denominated bullion less expensive for other currency holders. "Gold was weaker for most of 2022 amid aggressive tightening of monetary policies, rising real yields and dollar strength. "Sustained recovery in gold prices is possible if Fed pivots." In other metals, spot silver rose 1.6% to $24.09 per ounce, platinum gained 0.4% to $1,025.32, while palladium jumped 1.9% to $1,797.00.
Indian billionaire Gautam Adani’s conglomerate had just launched a hostile bid to take over an influential broadcaster in the capital. Rupak De Chowdhuri/ReutersMuch of his fortune is tied up in the sprawling Adani Group, which he founded over 30 years ago. Most of the companies in the Adani empire are held closely by the billionaire, his family and associated firms, including nearly 75% stakes in AEL, Adani Power, and Adani Transmissions. Yet, the Adani Group has continued to raise billions from Indian and foreign banks. CreditSights, a research firm owned by Fitch Group, in August published a report about Adani Group titled “Deeply Overleveraged” in which it expressed strong concerns.
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