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☆ Gold subdued as investors seek more data for Fed rate cues
▼ + stars: | 2024-06-17 | by ( ) www.cnbc.com time to read: +2 min

Gold prices eased on Monday as investors awaited more U.S. economic data, while reports from last week showed that inflation was stabilizing and lifted hopes for the Federal Reserve to cut interest rates later this year. Data released last week showed some weakening in price pressures in the U.S., suggesting that the labor market was losing momentum, keeping hopes alive for a September rate cut. Traders are seeing a 68% probability of a cut in September, according to the CME Group's FedWatch Tool, compared to 63% before the producer prices data on Thursday. However, Minneapolis Fed President Neel Kashkari on Sunday said it's a "reasonable prediction" that the U.S. central bank will cut interest rates once this year, waiting until December to do it. Lower interest rates reduce the opportunity cost of holding non-yielding bullion.

Persons: Kyle Rodda, Rodda, Neel Kashkari, it's Organizations: Federal Reserve, ., Minneapolis Locations: Birmingham, England, U.S

☆ Gold eyes first weekly gain in four on cooling U.S. inflation
▼ + stars: | 2024-06-14 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged up on Friday and were on course for their first weekly gain in four, as U.S. economic data indicated a softening of price pressures, fueling optimism that a rate cut from the Federal Reserve might be forthcoming. Gold prices edged up on Friday and were on course for their first weekly gain in four, as U.S. economic data indicated a softening of price pressures, fueling optimism that a rate cut from the Federal Reserve might be forthcoming. Spot gold as up 0.2% at $2,306.89 per ounce, as of 0334 GMT. "The best recipe for gold would be continued weakness in inflation, then that recessionary appeal of gold will start to come through as a bit of an extension of expectations of potential rate cuts this year." Data on Thursday showed that U.S. producer prices unexpectedly fell in May, another indication that inflation was subsiding after surging in the first quarter.

Persons: Kyle Rodda Organizations: Federal Reserve, Fed, Traders

☆ Gold little changed as traders seek more data for Fed rate cues
▼ + stars: | 2024-06-03 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were little changed on Monday as traders awaited more U.S. economic data this week, after recent data showed that inflation stabilized and lifted hopes for the Federal Reserve to cut interest rates later this year. Gold prices were little changed on Monday as traders awaited more U.S. economic data this week, after recent data showed that inflation stabilized and lifted hopes for the Federal Reserve to cut interest rates later this year. "Gold is getting a little bit of support after the marginally softer than expected Personal Consumption Expenditures numbers supported the notion that the Fed can cut rates this year," Rodda said. Data on Friday showed that the U.S. inflation had stabilized in April, raising bets for a rate cut in September. Spot gold may break support at $2,319 per ounce, and fall towards $2,302, according to Reuters technical analyst Wang Tao.

Persons: Bullion, Kyle Rodda, Rodda, Wang Tao Organizations: Federal Reserve, Capital.com, Institute of Supply, PMI, Traders Locations: .

☆ Gold flat ahead of U.S. data, but set for 4th straight monthly gain
▼ + stars: | 2024-05-31 | by ( ) www.cnbc.com time to read: +2 min

One kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices were set for a fourth straight monthly gain, even as the market struggled for momentum on Friday ahead of a key U.S. inflation reading that could provide more indications on how the Federal Reserve might proceed with rate cuts later this year. Bullion prices are up 0.3% so far this week and 2.5% so far in the month. Spot silver fell 0.8% to $30.95 per ounce, but was set for its biggest monthly gain since July 2020. Platinum was down 0.2% at $1,021.94 and palladium lost 0.2% to $945.56.

Persons: Kyle Rodda, Yeap Jun Rong Organizations: Co, Federal Reserve Locations: Bangkok, Thailand, U.S

☆ Silver price gains are outshining gold thanks to China's solar panel overproduction
▼ + stars: | 2024-05-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Record high gold prices are in the spotlight — but it's really the yellow metal's poorer cousin, silver, that's outperforming in the price rally. Spot silver prices have gained 35% this year-to-date to 12-year-highs. In comparison, spot gold prices are at around $2,350 per ounce, but have just gained 14% so far this year. Silver is used in solar panels and also in general industryIn particular, silver is a key raw material for solar panels. Other than solar panels, silver is also used in electronics, as catalysts in industrial processes, and in car parts.

Persons: Morgan Stanley, Daniela Hathorn, Hathorn, Silver, overcapacity Organizations: Service, Business, Bloomberg, East, Global, Silver Institute Locations: China, West, Europe, Beijing

☆ Trump’s ‘unified Reich’ video appears to trace origins to a Turkish graphic designer
▼ + stars: | 2024-05-24 | by ( Jon Sarlin | ) edition.cnn.com time to read: +8 min

Bizarrely, the fake article’s text appears to trace its origins to a graphic designer named Enes Şimşek who lives near Istanbul. CNN discovered the video template on Video Hive, a motion graphics template store. According to an email he shared with CNN, Şimşek sent a letter to Support@truthsocial.com with the email subject line: “From the ‘REICH’ video template Author.”“Hi. I am the initial author of that ‘REICH’ video template. Şimşek was again floored when he saw the video of Biden responding to the Trump video.

Persons: Trump, Donald Trump, “, Joe Biden, Enes Şimşek, Şimşek, ”, Enes, Bill Byrne, Byrne, —, It’s, Biden, ” Şimşek, Adolf Hitler’s Mein, Hitler, John Kelly, CNN’s Jim Sciutto, Powers, ” Kelly, ’, ’ Trump, ” Karoline Leavitt, Donald Trump’s, James Singer, I’m Organizations: CNN, AP, Trump, Facebook, YouTube, Arts and Entertainment Technologies, University of Texas, Nazi, White House, Biden, @ramble_rants Locations: America, Nazi Germany, Istanbul, Austin

☆ Gold hits record peak as rate cut bets burnish appeal, silver jumps
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: +2 min

Gold prices hit an all-time high on Monday as a slowing U.S. inflation trend boosted expectations that the Federal Reserve could deliver its first interest rate cut soon, while silver scaled a more than 11-year peak. Spot gold was up 0.9% at $2,436.76 per ounce, as of 0340 GMT after hitting a record high of $2440.49 earlier in the session. Data last week showed signs of cooling inflation and traders now expect a 65% chance of a U.S. rate cut by September. "Gold prices sneaked in a cheeky record high ahead of China's (market) open on Monday. Spot silver rose 2.5% to $32.28 after hitting an over 11-year high.

Persons: Kyle Rodda, Bullion, Matt Simpson, Wang Tao Organizations: Fort, Federal Reserve, Index, Palladium Locations: Fort Knox Alaska, Kinross, Tetlin , Alaska, U.S, China's, China

☆ Gold prices flat as U.S. inflation data takes centre-stage
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: +2 min

Gold prices traded flat on Wednesday as investors looked forward to a critical U.S. inflation print that could offer clues on the Federal Reserve's interest rate-cut trajectory. Spot gold held its ground at $2,359.99 per ounce, as of 0704 GMT, trading in a narrow $6 range, after gaining 1% on Tuesday. According to a Reuters poll, the data is expected to show that core inflation in April rose 0.3% month-over-month, down from 0.4% the prior month. Bullion is known as an inflation hedge, but higher rates increase the opportunity cost of holding non-yielding gold. However, data on Tuesday showed that U.S. producer prices increased more than expected in April.

Persons: Kyle Rodda, Bullion, Jerome Powell Organizations: Fort, BHP Group Locations: Fort Knox Alaska, Kinross, Tetlin , Alaska, ., U.S, American

☆ Yen gives up ground vs dollar following surge on suspected intervention
▼ + stars: | 2024-05-02 | by ( ) www.cnbc.com time to read: +3 min

An attendant holds a sample of newly-designed Japanese 10,000 yen banknote, with three-dimensional holographic technology to prevent forgery, for a photograph at the National Printing Bureau Tokyo plant in Tokyo, Japan, on Wednesday, June 28, 2023. The yen gave up ground in early trade on Thursday, reversing direction after a sudden surge against the dollar overnight that traders and analysts were quick to attribute to intervention by Japanese authorities. The dollar was 0.9% higher at 155.98 yen as of 0100 GMT, retracing about half of its late Wednesday surge from around 157.55 to exactly 153 over a period of about 30 minutes. "The 'sneak attack' element really is the MOF (Japan's Ministry of Finance) looking to punish speculators and send a warning about shorting the yen." That helped lift the dollar to a 34-year peak of 160.245 yen on Monday and also spurred a sharp reversal which official data suggested was due to Japanese intervention totalling about $35 billion.

Persons: Jerome Powell, Masato Kanda, Kyle Rodda, Sterling, Powell, Jack Mclntyre Organizations: National Printing Bureau, Federal Reserve, Reuters, Capital.com, Japan's Ministry of Finance, Bank of Japan, Brandywine Locations: National Printing Bureau Tokyo, Tokyo, Japan, U.S, Melbourne

☆ Gold prices ease as dollar firms ahead of Fed policy meet
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: +2 min

An Argor-Heraeus SA branded two hundred and fifty gram gold bar, center, sits in this arranged photograph at Solar Capital Gold Zrt. Gold prices were set for a third straight monthly gain, even as bullion prices eased on Tuesday as the dollar firmed ahead of the Federal Reserve's policy meeting starting later in the day. Spot gold was down 0.2% at $2,329.69 per ounce, as of 0355 GMT. This week's important market events are the Federal Reserve's policy meeting from April 30-May 1 and the non-farm payrolls data due on Friday. The U.S. Fed is expected to hold its benchmark interest rate steady at 5.25%-5.5% at this meeting.

Persons: Kyle Rodda, Capital.com, Bullion, Capital.com's Rodda, Jerome Powell Organizations: Heraeus SA, Solar, Federal, U.S, Fed Locations: Budapest, Hungary

☆ Oil disruption fears in the Middle East are getting real after reports of an Israel strike on Iran
▼ + stars: | 2024-04-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Read previewOil prices jumped while stocks sold off after reports of an escalation in Middle East tensions. International benchmark Brent crude oil futures rose as much as 4.2% before trading 2.8% higher at $89.54 a barrel at 11:15 p.m. EDT. The strike on Friday came days after Iran attacked Israel on Saturday with a barrage of more than 300 missiles and drones. Israel didn't claim responsibility for the strike, but Iran held it accountable and vowed retaliation. Oil markets shrugged off Iran's attack on Israel as the market assessed the conflict would remain contained.

Persons: —, Israel didn't, Israel, Kyle Rodda, Rodda Organizations: Service, Brent, US West Texas, Business, ING, Stock Locations: East, Israel, Iran, Iran's, Damascus, Syria

☆ Safe-haven gold rises as Israeli attack on Iran raises concerns of wider conflict
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: +2 min

Ingots of 99.99 percent pure gold are placed in a workroom at Novosibirsk Refining Plant, Russia on September 15, 2023. Gold prices rose on Friday as risk aversion swept across financial markets following media reports on explosions in Iran, prompting fears of a wider regional conflict and increasing bullion's safe-haven appeal. The news of Israel's attacks on Iran today "is driving gold price attention on the Middle East which has been the sole thing keeping the gold price moving higher for weeks now. "Gold is not a monetary policy trade at the moment, it's a geopolitics trade," Rodda said. Eventually, even if geopolitical risks subside, "Chinese gold reserve accumulation acts as the major catalyst.

Persons: Bullion, Kyle Rodda, Rodda, Ilya Spivak Organizations: Novosibirsk Refining Plant, Reserve Locations: Novosibirsk, Russia, Iran, Israel

☆ Dollar firms, yen skids as Fed cut wagers crumble
▼ + stars: | 2024-04-11 | by ( ) www.cnbc.com time to read: +4 min

U.S. one hundred dollar bills are being shown in this picture illustration taken in Buenos Aires, Argentina, on Dec. 15, 2023. Japan intervened in the currency market three times in 2022 as the yen slid toward what was then a 32-year low of 152 to the dollar. The Japanese central bank last month ended eight years of negative interest rates but yen has remained rooted near 151 per dollar levels since then. The euro was last at $1.0744, having dropped 1% on Wednesday ahead of the European Central Bank, or ECB, meeting later in the day. The Australian dollar was little changed at $0.651, while the New Zealand dollar eased 0.17% to $0.598.

Persons: Masato Kanda, Kyle Rodda, Rodda, Kazuo Ueda, Kevin Cummins, Sterling Organizations: Fed, Reuters, Bank of, Bank of Japan, Federal Reserve, U.S, NatWest, Treasury, European Central Bank, ECB, New Zealand Locations: Buenos Aires, Argentina, Tokyo, Japan, Bank of Japan, U.S

The weeklong Koyukon Athabascan burial ceremony in September was traditional in all ways but one: McCormick died in 1931. The 2,500-mile (4,000 km) journey ended at Morningside Hospital. For more than 15 years, volunteers in Fairbanks and in Portland have been working to identify the people who were committed to the hospital. Most records at the private hospital were lost in a 1968 fire, and territorial officials didn’t document those who were committed. McCormick died within weeks from a post-surgery infection.

Persons: — Lucy Pitka, McCormick, “, ”, Lucy, Wally Carlo, Karen Perdue, Niesje Steinkruger, Meg Green, Ellen Ganley, Robin Renfroe, Eric Cordingley, Ganley, Perdue, Gilford Kriska, Kriska, Henry Waldo Coe, Steinkruger, Cordingley, “ I’m, Baby Louise Haven, Lucy McCormick’s, —, Fairbanks, Helen Callahan, Carlo, Grandma Lucy, they’re Organizations: Morningside Hospital, Interior, National Archives, Alaska Natives, Morningside Locations: ANCHORAGE, Alaska, Fairbanks, Portland , Oregon, Valdez, Portland, Morningside, Oregon, College Park , Maryland, Nulato, Juneau, www.findagrave.com, Rampart

Nigel was gay, Shelby said, but she never knew the impact that had on his life at school. ‘Solutions in search of a problem’HB130 – dubbed a “Don’t Say Gay” bill by critics – is one of the bills currently working through the state legislature. For Neil Rafferty, a husband, combat veteran and the only Alabama state lawmaker who identifies as gay, the changes could once again trigger unintended consequences for the state. After his death, Shelby started The Nigel Shelby Foundation to help youth who may not have a support system, provide scholarships for students and help families with LGBTQ children. Camika and Nigel Shelby Courtesy Shelby familyIn a letter to his mother before his death, Nigel asked her to forgive him and keep living, Shelby said.

Persons: Huntsville , Alabama CNN — Camika Shelby, “, ” Shelby, Nigel, Shelby, ”, Nigel Shelby, –, HB130, Neil Rafferty, ” Rafferty, Amelia Earhart, Rafferty, Neil Rafferty Devon Sayers, Mack Butler, ” Butler, AL.com, Butler, It’s, ” Adele Kimmel, Kimmel, ” Kimmel, Camika, ‘ Mama, there’s Organizations: International Association for Suicide Prevention, Befrienders, Huntsville , Alabama CNN, CNN, Huntsville City, of Education, Democrat, Republican, HB130, Public Religion Research, Public, Civil Rights, Human Rights, Nigel, Nigel Shelby Foundation Locations: Huntsville , Alabama, Huntsville, Alabama, Shelby, Florida

☆ Dollar firm after Fed comments; yen under close watch
▼ + stars: | 2024-03-28 | by ( ) www.cnbc.com time to read: +3 min

"There is no rush to cut the policy rate" right now, Waller said in a speech prepared for delivery before an Economic Club of New York gathering. The dollar index , a measure of the greenback against major peer currencies, ticked up in the wake of Waller's comments and last held mostly unchanged at 104.41. Traders await key U.S. core inflation figures due on Friday, following a bigger-than-expected jump in U.S. durable goods orders on Tuesday that has already boosted the dollar against the yen. The greenback reached 151.975 yen on Wednesday, its strongest against the yen since mid-1990. Japan intervened in the currency market three times in 2022, selling the dollar to buy yen, first in September and again in October as the yen slid towards a 32-year low of 152 to the dollar.

Persons: Christopher Waller, Waller, It's, Kyle Rodda, Rodda, Masato Kanda, Shunichi Suzuki, That's, Ray Attrill, Sterling, bitcoin Organizations: U.S, Federal Reserve, Federal, Economic, of New, Traders, Finance, National Australia Bank, Bank of Japan's Locations: of New York, Japan

☆ Gold holds tight range as focus turns to U.S. inflation data
▼ + stars: | 2024-03-26 | by ( ) www.cnbc.com time to read: +2 min

Gold bars of different sizes lie in a safe on a table at the precious metals dealer Pro Aurum. Gold prices were stuck in a tight range on Tuesday as investor focus turns to U.S. inflation data due later this week, which could shed more light on the timing of the Federal Reserve's first interest rate cut this year. Gold prices hit a record high last week after Fed policymakers indicated they still expected to reduce interest by three-quarters of a percentage point by 2024 end despite recent high inflation readings. Meanwhile, Fed Governor Lisa Cook cautioned the U.S. central bank needs to proceed carefully as it decides when to begin cutting interest rates. Lower interest rates reduce the opportunity cost of holding bullion.

Persons: Kyle Rodda, Capital.com, Austan Goolsbee, Lisa Cook Organizations: Aurum, Federal, Chicago Fed Bank, Traders, Fed Locations: U.S

☆ Gold slips as dollar firms, cenbank meetings in focus
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: +1 min

Gold prices slipped on Monday as the dollar held firm and investors braced for a slew of policy decisions from major global central banks including the U.S. Federal Reserve this week. The Fed is considered certain to keep rates at 5.25%-5.5% at the end of its two-day meeting on Wednesday. The dollar held steady near a two-week high against its rivals, making gold more expensive for other currency holders. Meanwhile, the Bank of Japan is expected to exit its ultra-dovish monetary policy at its two-day meeting ending on Tuesday. The Bank of England will hold its meeting on Thursday and is expected to stay put on rates.

Persons: Kyle Rodda Organizations: U.S . Federal Reserve, Bank of, Bank of England Locations: Bank of Japan

☆ Currency market subdued ahead of fresh U.S. economic data
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: +3 min

The currency market was sedate on Thursday, with the U.S. dollar consolidating against major peers as market players awaited more data out of the world's largest economy for clues on the direction of Federal Reserve policy. With the Fed widely expected to hold rates steady at its meeting next week, attention will be on the bank's updated economic projections. The dollar index , which measures the greenback against a basket of six currencies, was mostly flat at 102.77. Sources told Reuters that Japan's central bank will debate ending negative rates next week if big firms' wage talks yield strong results. Elsewhere, the euro was holding steady against the dollar at $1.0949, ahead of remarks by several European Central Bank officials on Thursday.

Persons: Kyle Rodda, Jerome Powell, Sterling, bitcoin Organizations: U.S, Federal Reserve, Fed, U.S ., PPI, Bank, Reuters, European Central Bank Locations: Buenos Aires, Argentina, U.S

☆ Alabama state and city governments grapple with pair of cyber incidents
▼ + stars: | 2024-03-13 | by ( Sean Lyngaas | Isabel Rosales | ) edition.cnn.com time to read: +4 min

There was no breach of government networks or data stolen in the cyberattack, according to the office of Republican Gov. “We’ve seen waves of attacks against numerous targets, including the State of Alabama,” Richard Hummel, senior threat intelligence manager at cybersecurity firm Netscout, told CNN. The attacks against Alabama government websites typically lasted five to 10 minutes, Hummel said. More than 2,200 US hospitals, schools and governments were “directly impacted” by ransomware last year, according to a tally from cybersecurity firm Emsisoft. DDoS attacks can also cause disruptions to the local communities that rely on school, hospital and election websites for information, Hummel said.

Persons: ”, Jeremy Ward, Kay Ivey, Sergeant LaQuitta Wade, Gerald Auger, ” Auger, “ You’re, “, ” Richard Hummel, Netscout, Hummel, ransomware Organizations: Washington, Atlanta CNN, Alabama’s, Information Technology, CNN, Republican Gov, Public, Birmingham Police Department, Public Information, Coastal Information Security, Agency, State of, Alabama Locations: Atlanta, Birmingham, City, Alabama, Sudan, ”, State of Alabama

☆ Gold prices steady as traders await key U.S. inflation report
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: +2 min

Gold prices remained steady on Thursday, and have held ground so far this month, despite bleak hopes for swift and deeper rate cuts in the United States as traders await a key U.S. inflation reading due later in the day. Gold prices remained steady on Thursday, and have held ground so far this month, despite bleak hopes for swift and deeper rate cuts in the United States as traders await a key U.S. inflation reading due later in the day. Spot gold was steady at $2,035.78 per ounce, as of 0419 GMT. Gold is holding firm on a month-on-month basis despite traders trimming bets to three quarter-point rate cuts in the U.S. for 2024, from bets of five cuts a month ago. Hopes of the first cut arriving in May have receded this month, and a cut is now expected in June.

Persons: Kyle Rodda, there's Organizations: Capital.com, U.S, Fed Locations: United States, U.S

☆ MLS season preview: Messi and Inter Miami target domination of US soccer in ‘year two’
▼ + stars: | 2024-02-21 | by ( Matias Grez | ) edition.cnn.com time to read: +6 min

How to watch the MLS season openerThe MLS season opener between Inter Miami and Real Salt Lake kicks off at 8 p.m. ET and will be broadcast in the US and UK on Apple TV’s MLS Season Pass, following the 10-year streaming deal signed in 2022 between MLS and the technology company. Tim Nwachukwu/Getty ImagesDays before the MLS season began, league commissioner Don Garber said he believed Miami could still add more superstar firepower to its squad. The Columbus Crew will likely pose a threat once again to win the MLS Cup. Writing for ESPN, Luis Miguel Echegaray said he doesn’t see Inter Miami winning the Eastern Conference.

Persons: Lionel Messi, Jordi Alba, Sergio Busquets, it’s, Messi, Luis Suárez, Gerardo ‘ Tata ’ Martino, Suárez’s, ” Messi, Tim Nwachukwu, Don Garber, “, ” Garber, Leo, Garber, Maddie Meyer, Wilfried Nancy, ’, Luciano Acosta, “ We’re, Luis Miguel Echegaray, Tata Martino, ”, ” GOAL.com’s Ryan Tolmich Organizations: CNN, Inter Miami, Barcelona, MLS Eastern Conference, Leagues, MLS, Miami, Apple, Uruguayan, Gremio, Messi, CONCACAF Champions League, ESPN, Argentine, Columbus Crew, FC Cincinnati, Miami Herald, ”, Eastern Conference Locations: Miami, Real Salt, Brazil, Barcelona, French, Ohio, Argentine

☆ Dollar nears 150 yen ahead of US inflation test; bitcoin buoyant
▼ + stars: | 2024-02-13 | by ( ) www.cnbc.com time to read: +4 min

The dollar flirted with the psychological threshold of 150 yen on Tuesday and held broadly steady ahead of a key reading on U.S. inflation due later in the day, while bitcoin hovered around the $50,000 mark for a second day running. The greenback last bought 149.39 yen, edging higher toward the closely-watched 150 level that analysts said would likely trigger further jawboning from Japanese officials in an attempt to support the currency. The projected rise in inflation three years from now dropped to 2.4%, the lowest since March 2020, from December's 2.6%. Analysts said the latest boost to bitcoin comes ahead of its halving event, which will cut the reward for successfully mining a bitcoin block in half. The expectation of rate cuts certainly helps, but it doesn't explain what's really set fire to bitcoin over the past four, five sessions," said IG's Sycamore.

Persons: pare, that's, Tony Sycamore, It's, Kyle Rodda Organizations: greenback, Bank of, IG, Federal Reserve Bank of New, U.S ., New Zealand, U.S, bitcoin Locations: Asia, China, Hong Kong, Bank of Japan, U.S, United States, Federal Reserve Bank of New York, December's, Europe

☆ Gold takes pause in light trading; eyes on Fed in data-packed week
▼ + stars: | 2024-02-12 | by ( ) www.cnbc.com time to read: +2 min

Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea, on Oct. 13, 2023. Gold prices steadied in a tight range on Monday in holiday-thinned trading, as investors awaited remarks from a slew of U.S. Federal Reserve officials in a data-packed week. "Positioning is neutral, and if the data deteriorates softening the dollar and deepening U.S. rate cut bets, then gold will shine again. COMEX gold speculators raised their net long position by 10,616 contracts to 82,591 in the week ended Feb. 6, data showed on Friday. Traders have all but ruled out a rate cut at the Fed's next meeting in March, according to LSEG's Interest Rate Probability app, IRPR.

Persons: Kyle Rodda, Jerome Powell Organizations: Korea Gold Exchange, . Federal Reserve, Traders Locations: Seoul, South Korea, China , Hong Kong, Japan, Singapore, Taiwan, Vietnam, Malaysia

☆ What the collapse of a company owing $300 billion means for the world
▼ + stars: | 2024-02-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +8 min

AdvertisementImportantly, since the court order was made in Hong Kong, it's also unclear if mainland authorities will recognize and comply with the order. However, the company owes about $300 billion — a big shortfall, and there's a clear order of priority when it comes to repayments. How will the Evergrande collapse impact sentiment in China's economy and markets? Notably, the stock market sell-off came before Evergrande's liquidation order. Hong Kong's Hang Seng index ended up slightly higher the day the court order was made.

Persons: —, Kyle Rodda, Rodda, Alvarez, Marsal, Evergrande, it's, Baker McKenzie, Daniel Margulies, Margulies, Andrew Collier Organizations: Service, Business, Hong Kong Stock Exchange, Reuters, Deloitte, CSI, Orient Capital Research Locations: Hong Kong, China, Beijing, Asia

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