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☆ Newly released photos capture British commandos and American forces hunting down a narco-sub carrying $209 million of cocaine in the Caribbean
▼ + stars: | 2024-09-12 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

Read previewBritish and American forces recently intercepted a drug-smuggling narco-sub carrying millions of dollars worth of Cocaine in the Caribbean Sea. Military photos show the bust, which was the first time the Royal Navy had ever intercepted a narco-sub. The Trent team has seized over 20,000 pounds of drugs in the past eight months, valued at almost $1 billion. AdvertisementThe Trent team is now the best hunter of smugglers in the Royal Navy this century. Related storiesAfter the Royal Navy and US Coast Guard retrieved the drugs, they brought them aboard for inspection.

Persons: —, HMS, clambered, Tim Langford, HMS Trent's, Simon Doran, Kevin Ray J, Salvador Organizations: Service, American, Royal Navy, Business, US Coast Guard personnel, American Coast Guard, Royal Marine commandos, Trent, Royal, USCG, US Coast Guard, US Marine Corps, Marine Corps, Corps, . Marine Corps Locations: Caribbean, HMS Trent, Dominican Republic

☆ Dead woman found entangled in baggage machinery at Chicago’s O’Hare airport
▼ + stars: | 2024-08-09 | by ( Story Associated Press | ) edition.cnn.com time to read: +2 min

AP —Firefighters found a dead woman entangled in machinery Thursday in a non-public baggage-processing area at O’Hare International Airport in Chicago. Larry Langford, a spokesperson for the Chicago Fire Department, said firefighters were called to the airport around 7:45 a.m. for a report of a person pinned in machinery used to move baggage. He said they discovered the woman entangled in a conveyer belt system in a baggage room. The baggage room wasn’t publicly accessible, Langford said, and it’s not clear how she found her way into it. After checking with the police department about the timing, Langford said he was told surveillance footage shows the woman walking in the baggage room at 2:27 a.m.

Persons: Larry Langford, Langford, Scott Allen, Firefighters, didn’t, Nathaniel Blackman Organizations: AP — Firefighters, Chicago Fire Department, Police, U.S . Department of Labor, Occupational Health, Safety Administration, Chicago Police, Associated Press Locations: Chicago

☆ Gold continues record rally after Fed comments; U.S. data in focus
▼ + stars: | 2024-04-04 | by ( ) www.cnbc.com time to read: +1 min

Gold prices rallied to a record high on Thursday as Federal Reserve officials reiterated expectations of interest rate cuts in 2024, even if their timing was unclear, while traders await key U.S. jobs data. Spot gold was steady at $2,299.28 per ounce, as of 0343 GMT, and hit a record high of $2,304.09 earlier in the session. Bullion has hit record highs in each session since last week's Thursday. The U.S. jobs report for March is due to be released on Friday, with new inflation data coming next week. Lower interest rates reduce the opportunity cost of holding bullion.

Persons: Bullion, Michael Langford, Jerome Powell, Langford Organizations: Federal, U.S, Scorpion Minerals Locations: U.S

☆ A myth about Irish immigrants who came to the US during the potato famine gets debunked in a new book
▼ + stars: | 2024-03-17 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +22 min

In part, that was because it was just impossible to trace Irish famine immigrants and find out what had happened to them. This is just inconceivable to anyone who had ever thought about the famine Irish given the obstacles that faced them. Biden is one of four US presidents who descended from Irish famine immigrants. The famine immigrants really were the ones who cemented the idea of the American Dream as we understand it today. At the time, the neighborhood was home to the more Irish immigrants than any other part of the city.

Persons: CNN — Tyler Anbinder didn’t, Anbinder, Martin Scorsese, ”, …, “ It’s, ” Anbinder, Richard Ljoenes, —, ’, Patrick’s, there’s, “, Michael Sullivan, they’re, Biden, Obama, Reagan, Kennedy, Joe Biden, Kevin Lamarque, He’s, Pope, I, ” Biden doesn’t, George Washington, There’s, you’ve, Alderman John Barry’s, Tyler, Tyler Anbinder, he'd, Chris Langford, can’t, United States —, John Carlin, saloonkeepers, Saint Louis Organizations: CNN, Emigrant Savings Bank, New York Public Library, Irish, George Washington University, St, they’re Catholic, London, Hulton, Murphys, Reuters, New York Tribune, George Washington Bridge, New York Central Railroad, York, New York Public Locations: New York, York, United States, America, Europe, Liverpool, Ireland, County Mayo, Rome, Irish, Manhattan, Yorkers, New, New York City, Chicago, California, Minnesota, Saint

☆ Gold subdued as U.S. inflation surprise casts doubt on mid-year rate cut
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were flat on Wednesday, after falling the most in a month in the previous session, as sticky U.S. inflation raised concerns an interest rate cut by the Federal Reserve may be delayed beyond June. Gold's latest price drop comes as everything falls back to the inflation data, that feeds through into U.S. Fed's decision making, Michael Langford, chief investment officer at Scorpion Minerals Ltd said. Langford expects a healthy correction of up to about 10% in gold prices from here. Bullion fell 1.1% on Tuesday, after data showed U.S. consumer prices increased solidly in February, above forecasts and suggesting some stickiness in inflation. This was gold's worst single-day decline since Feb. 13, when data showed consumer prices also increased more than expected in January.

Persons: Michael Langford, Langford Organizations: Co, Federal, Scorpion Minerals Ltd, Traders, Treasury Locations: Bangkok, Thailand, U.S, Ukraine

☆ The chef at London's Chishuru just won her first Michelin star. She started with a competition to open a pop-up restaurant.
▼ + stars: | 2024-03-10 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on an interview with the founder and chef of Chishuru, Joké Bakare, about pursuing her dream to open a restaurant. A year later, some friends spotted a competition run by Brixton Village in south London — they were offering the winner a three-month pop-up restaurant. In some ways, the Brixton restaurant was straightforward — it was a small site with just 18 covers inside and 14 outside. Harriet LangfordThe restaurant's success continued and in April 2022, Time Out named Chishuru as London's best restaurant. It's the food that my grandmother might have cooked, but with a London restaurant spin.

Persons: —, Joké, Covid, Jay Rayner, Matt Paice, Bakare, Harriet Langford, they'd, I've, We've, Cook, Chishuru Harriet Langford, It's Organizations: Service, Ahmadu Bello University, Business, Brixton, The Observer, Michelin, uda Locations: Kaduna, Nigeria, London —, Brixton, London, Matt, Chishuru

Chesebro’s social media presence Pro-Trump attorney Kenneth Chesebro told Michigan investigators that he doesn’t have any social media accounts, including Twitter. But CNN uncovered a secret Twitter account that Chesebro used to anonymously post about the 2020 election in real-time. Yet in his interview with Michigan investigators, Chesebro said the very opposite, claiming that the entire electors plan was contingent on the courts. Michigan investigators secured Chesebro’s cooperation in December, after previously charging the 16 fake electors in that state with multiple felonies. Chesebro distances himself from the plotIn his interview with Michigan investigators, Chesebro repeatedly tried to downplay his knowledge of the electors plan.

Persons: Kenneth Chesebro, Chesebro, ”, Robert Langford, Danny Wimmer, Dana Nessel, “, ” Chesebro, Trump, BadgerPundit, Mike Pence, Joe Biden, Pence, hadn’t, Jack, “ Chesebro, Ryan Goodman, ” Goodman, Manny Arora, Arora, Wimmer, John Eastman, Alex Jones, I’d, Gore, Laurence, “ it’s, Eastman, Boris Epshteyn, Donald Trump, won’t, Biden, ” BadgerPundit, Jefferson, ” CNN’s Selwyn Rocha Organizations: CNN, Trump, Twitter, Michigan, CNN CNN, BadgerPundit, Chesebro, Republican, Pro, CNN CNN Twitter, Wayback Machine, New York University, Michigan Attorney, Bush, Trump International Hotel, Atlantic, ”, Biden, Eastman, Pence, Capitol Locations: Michigan, Georgia, Wisconsin, Arizona, Nevada, “, Chesebro, Gore, cryptocurrency, Washington ,, Bush, Trump’s, Washington

☆ Chishuru: Nigerian chef Adejoké Bakare makes history with Michelin star for her London restaurant
▼ + stars: | 2024-02-09 | by ( Callum Sutherland | ) edition.cnn.com time to read: +4 min

London CNN —Growing up in Nigeria as the oldest sibling, Adejoké “Joké” Bakare was usually the one cooking for the family. Now, her restaurant Chishuru has been awarded a Michelin star, making Bakare the first Black female chef in the UK to earn the accolade. In the West African language of Hausa, Chishuru means “the silence that descends on the table when the food arrives,” according to Bakare. She explained that she’s never looked to create an “authentic” restaurant for West African cuisine, but instead fuse different styles together and create new recipes. They just didn’t have the vision to see a West African restaurant in their premises.”Chishuru found its new home on Great Titchfield Street in the heart of London, and nearby West African restaurant Akoko was also awarded a Michelin star on February 5.

Persons: Bakare, ”, “, Harriet Langford, ” Bakare, she’s, Harriet Langford “, Chishuru, Jay Rayner, ” Chishuru, “ There’s Organizations: London CNN, CNN, Observer, Michelin Locations: Nigeria, Brixton, South London, London, West Africa, African, West African, West, Chishuru

CHICAGO (AP) — An overnight fire caused extensive damage to an iconic Chicago restaurant that's known for its breakfasts and is filled with decades of memorabilia, authorities said. Firefighters were called to the Palace Grill around 10 p.m. Thursday, Chicago Fire Department spokesperson Larry Langford said on X, formerly known as Twitter, in a post with photos of the fire damage. The fire's cause was under investigation, but Langford told the Chicago Sun-Times a preliminary investigation indicates a grease fire started in the kitchen near a grill. Photos You Should See View All 21 Images“There is a lot of damage,” Lemperis told WLS-TV. The Palace Grill is famous for its breakfast and then-Vice President Al Gore once treated Russian Prime Minister Viktor Chernomyrdin to a visit to the eatery, the Sun-Times reported.

Persons: Larry Langford, Langford, George Lemperis, ” Lemperis, ”, Al Gore, Viktor Chernomyrdin, Oprah Winfrey Organizations: CHICAGO, Firefighters, Grill, Chicago Fire, Chicago’s, Chicago Sun, Times, Chicago’s United Center, WLS, Sun - Times Locations: Chicago, Russian

☆ 6-legged dog 'Ariel' triumphs after life-changing surgery
▼ + stars: | 2024-01-21 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +2 min

A six-legged spaniel is recovering after undergoing surgery to remove her extra limbs. She was named Ariel after Disney's "Little Mermaid" because her fused surplus legs resembled a mermaid tail. AdvertisementAriel, a six-legged dog discovered abandoned in a supermarket parking lot, has successfully undergone surgery to remove her two surplus limbs, the BBC reports. She was named after Disney's "Little Mermaid" character because her unique fused extra back legs resembled a mermaid's tail. Ariel, the #sixleggeddog found dumped in a supermarket car park, has had surgery to remove her extra limbs.

Persons: Ariel, Disney's, —, Aaron Lutchman, she's, Mikey Lawlor Organizations: Service, BBC, Langford Vets, Referral, Facebook Locations: Pembrokeshire, Wales, Australia, New York, Haverfordwest

LONDON (AP) — A spaniel born with six legs that was found abandoned in a supermarket parking lot is now like other dogs after having her extra limbs surgically removed. “She is doing brilliantly,” said Vicki Black, director of the Langford Vets Small Animal Referral Hospital, where she was operated on Thursday. The dog, who had multiple birth defects, was found in the center of Pembroke, Wales, in September. Black said the hospital, which is part of the University of Bristol, had never seen a six-legged dog or performed such an operation. Political Cartoons View All 253 Images“Ariel was a complicated little dog,” Black said.

Persons: Ariel, ”, Vicki Black, Black, ” Black Organizations: Langford, Referral, Greenacres, University of Bristol Locations: Pembroke, Wales

☆ Six-legged dog abandoned in Welsh car park undergoes surgery to remove extra limbs
▼ + stars: | 2024-01-20 | by ( Heather Chen | Morayo Ogunbayo | ) edition.cnn.com time to read: +1 min

CNN —A six-legged dog found abandoned in a supermarket car park in Wales has undergone surgery to remove her extra limbs. She was named after the Disney princess because her extra back legs were partly fused together, resembling a mermaid’s tail. She was taken in by Greenacres Rescue, a non-profit group based in the town of Haverfordwest in Pembrokeshire, Wales. The group arranged Ariel’s surgery and set her up with a foster family. Ariel is recovering and walking normally, Greenacres Rescue said in a post shared on Facebook.

Persons: Ariel, “, “ Ariel, ”, Mikey Lawlor, ” Lawlor, who’s Organizations: CNN, Disney, Greenacres, Facebook, Animal Referral, Vets University of Bristol, Press Association Locations: Wales, Haverfordwest, Pembrokeshire, Australia

☆ Gold extends slide as dollar firms on hawkish Fedspeak
▼ + stars: | 2024-01-17 | by ( ) www.cnbc.com time to read: +2 min

Gold prices extended losses on Wednesday as the U.S. dollar strengthened after hawkish comments from a Federal Reserve official dampened expectations for a March interest rate cut, while traders awaited comments from more Fed speakers this week. Spot gold was down 0.2% at $2,023.49 per ounce, as of 0415 GMT, after stooping 1.3% in the previous session - its biggest single-day decline since Dec. 4, 2023. Flow of funds to the U.S. dollar have been a key driver impacting the gold price, said Michael Langford, chief investment officer at Scorpion Minerals Ltd, forecasting bullion to trade around $2,000/Oz in the near term. With geopolitical tensions escalating, safe-haven flows could provide a floor for the gold price. However, "the short-term fate of the gold price is likely in the hands of the bond market," Tim Waterer, chief market analyst at KCM Trade, wrote in a note.

Persons: Michael Langford, Christopher Waller, Tim Waterer Organizations: U.S ., Federal Reserve, Scorpion Minerals Ltd, Treasury, KCM, U.S Locations: U.S

☆ E-Flight Challenge pitched a car against a plane -- and the car won
▼ + stars: | 2023-11-14 | by ( Miquel Ros | ) edition.cnn.com time to read: +12 min

Members of the E-Flight Challenge team lined up to watch the battery-powered airplane gracefully descend on the island of Norderney, just off the northwest coast of Germany. The long road ahead for electric aviationYou could say that the E-Flight Challenge takes its inspiration from the early days of aviation. The Elektra Trainer used in the E-Flight Challenge, for example, can carry a maximum of two people. Miquel RosIn this context, the E-flight Challenge served as an illustration of the challenges of electric flight – but also of its promise. The progress compared to just three years ago has been astonishing!” explains Morell Westermann, one of the E-Flight Challenge initiators.

Persons: Louis, Charles Lindbergh’s, Heart Aerospace –, –, Miquel Ros Italy’s Tecnam, China’s, Cuberg, ” Robin Riedel, Riedel, Norbert Werle, Tesla, Werle, ”, John Langford, Miquel Ros, Morell Westermann, Westermann Organizations: CNN, Lucid Motors Air, Louis Blériot’s, Channel, Heart Aerospace, United Airlines, Royce, Norwegian, Widerøe, Airbus, Boeing, Aerospace, McKinsey, Alamy, “ Aircraft, Lucid Motors Locations: Norderney, Germany, Gelnhausen, Frankfurt, Norway, Swedish, California, Berlin, The Virginia, “, Swiss

☆ Opinion: The Supreme Court may make America’s gun violence problem even worse
▼ + stars: | 2023-11-06 | by ( Opinion Shannon Watts | ) edition.cnn.com time to read: +7 min

It’s also a clear sign that the gun safety movement needs to get to work reforming the Supreme Court. Regardless of how Rahimi is decided, the Supreme Court has already done enormous damage to our ability to keep Americans safe from gun violence. We need Supreme Court expansion to restore balance and sanity to the Court. Fortunately, Supreme Court expansion is clearly constitutional: Congress has done it multiple times throughout American history and we can do it again. Expanding the Supreme Court would be yet another way we can fight the war against senseless gun violence.

Persons: Shannon Watts, Christopher Langford, It’s, Bruen, Rahimi, Sandy Hook, Bill Clinton, Sens, Ed Markey, Elizabeth Warren, Tina Smith, Jamie Raskin, Jerrold Nadler, Hank Johnson, Biden’s Organizations: CNN, York, National Rifle Association, Shooting Sports Foundation, NRA, New York’s Department of Financial Services, Supreme, US, Representatives, Democrat, Maryland Locations: America, Lewiston , Maine, United States, Bruen, Massachusetts, Minnesota, New York, Georgia

☆ Molly Hurwitz: Matthew Perry’s ex-fiancée, pays tribute to ‘complicated’ actor
▼ + stars: | 2023-10-31 | by ( Lisa France | Lisa Respers France | ) edition.cnn.com time to read: +2 min

CNN —Matthew Perry’s former fiancée has paid tribute to the late actor, remembering a man who had a “profound impact” on her life. Molly Hurwitz, who was in a relationship with Perry from 2018 to 2021, posted a tribute to the “Friends” star Monday on Instagram. According to Hurwitz, Perry’s response to his past performances as Chandler Bing on the show was “F**k, I was so good!! “No one in my adult life has had a more profound impact on me than Matthew Langford Perry. “I wish Molly the best.”The cause of Perry’s death is under investigation by the Los Angeles Medical Examiner.

Persons: Matthew Perry’s, fiancée, Molly Hurwitz, Perry, ”, ” Perry, Hurwitz, Chandler Bing, ” Hurwitz, “, Matthew Langford Perry, Al, “ Matty, Sincerely, Moll, Molly Organizations: CNN, Los Angeles Medical Locations: Instagram, Los Angeles

☆ New Zealand farmers set for right-wing protest vote over climate change policies
▼ + stars: | 2023-09-27 | by ( Lucy Craymer | ) www.reuters.com time to read: +4 min

Warning that livelihoods are at stake, farmers are looking to conservative candidates who will unwind or delay these Labour policies. The two will travel the length of New Zealand over 10 days to encourage rural communities to vote for a change. Farmers in New Zealand have staged several protests in the past two years against growing regulations and agricultural emission schemes. New Zealand will also become the first country in the world to tax farmer for methane from animals from 2025. Wayne Langford, president of farmer lobby group Federated Farmers, said recent policies had been impractical, difficult to implement and caused significant frustrations.

Persons: Praveen Menon, Bryce McKenzie, Laurie Paterson, John Deere, ”, McKenzie, Chris Hipkins, James Shaw, Wayne Langford, it's, Langford, Lucy Craymer, Michael Perry Organizations: REUTERS, Rights, New Zealand Labour Party, Farmers, ACT, Taxpayers, Union, Curia, National, Labour, Green Party, Federated Farmers, New Zealand, Thomson Locations: Hawke's Bay , New Zealand, Southland, New Zealand, Rural, Zealanders, Netherlands, Zealand

☆ Gold firms near one-month high with US inflation data on tap
▼ + stars: | 2023-08-31 | 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 firmed near one-month highs on Thursday as a fresh set of soft U.S. data added to expectations that the Federal Reserve will pause rake hikes this year, although inflation readings due later in the day could amend this outlook. U.S. gold futures steadied at $1,972.40. Among other metals, spot silver eased 0.3% to $24.59 per ounce, having climbed to a more than one-month high on Wednesday. Platinum steadied at $974.13 as it heads for its second consecutive monthly gain.

Persons: Michael Langford, Langford Organizations: Aurum, Federal, U.S, Treasury, Traders, Scorpion Minerals, Boston Fed Locations: U.S, China

Going "car-lite" and cutting nonessential car travel can be an affordable, impactful choice. That may sound expensive, but even a used car in the US now costs about $32,000. Even a brand-new, high-end bike costs about 90% less than the average used car. Public transit costs vary, but one household can save $10,000 a year by using public transportation instead of a car. Smart's research shows that families with a car experience an average income growth of 1% every two years.

Persons: Sonja Langford, Charlotte , North Carolina —, Langford, she's, Peter Krull, Krull, Michael Smart, Smart, Langford isn't Organizations: Service, University of North, Transportation, Earth Equity Advisors, Tesla, Rutgers University, Subaru, Charlotte, Bloomberg, Research Locations: Wall, Silicon, Charlotte , North Carolina, University of North Carolina, Asheville , North Carolina, Los Angeles

☆ Gold prices range-bound as traders focus on central bank decisions
▼ + stars: | 2023-07-24 | 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. arranged in Budapest, HungaryGold prices held steady on Monday as investors awaited a U.S. Federal Reserve meeting this week where the central bank could signal a pause in interest rate hikes from July. Spot gold was little changed at $1,960.01 per ounce by 0536 GMT, while U.S. gold futures fell 0.2% to $1,961.80. With a Fed rate hike in the July meeting nearly certain, "a positive outlook for gold revolves around central bank buying to drive long-term gold prices," said Michael Langford, chief investment officer at Scorpion Minerals. Along with the Fed, the European Central Bank, or ECB, and the Bank of Japan are also meeting this week.

Persons: Michael Langford, Jerome Powell, Christine Lagarde, Tim Waterer Organizations: Heraeus SA, Solar, Federal Reserve, Scorpion Minerals, Fed, European Central Bank, Bank of Japan, KCM Trade, UBS Locations: Budapest, Hungary, U.S

☆ Nation River Lady: Woman is identified nearly 5 decades after she was found floating in river, Canadian police say
▼ + stars: | 2023-07-06 | by ( Zenebou Sylla | ) edition.cnn.com time to read: +3 min

CNN —Canadian police have identified a woman known as the “Nation River Lady,” nearly five decades after she went missing and was found dead floating in a river in Ontario, police said. Police say Langford, 48, became known as the “Nation River Lady,” after the Nation River in eastern Ontario where her remains were found on May 3, 1975. In March 2022, her remains were repatriated to the US followed by a memorial service and burial, the release says. Rodney Nichols, 81, was criminally charged with Langford’s murder at the Ontario Court of Justice late last year, the release states. “Detected members of our local crime unit in the criminal investigation branch have always believed this case was solvable, that we would one day identify the person who became known as the Nation River Lady,” Kearns said.

Persons: ”, Jewell “ Lalla ” Langford, Langford, John, Jane, men’s neckties, Rodney Nichols, Daniel Nadeau, Branch, Jewell Langford’s, Nichols, Langford “, Janice Mulcock, “, Marty Kearns, ” Kearns Organizations: CNN, Canadian, Ontario Provincial Police, Police, Centre of Forensic Sciences, Ontario, Justice, OPP’s, ” Police, Ontario Police Department, Facebook, American Businesswomen’s Association, OPP Investigations Locations: Ontario, Montréal, Toronto, Hollywood , Florida, Jackson , Tennessee

☆ Gold flat as markets await Powell's testimony for rate cues
▼ + stars: | 2023-06-21 | by ( ) www.cnbc.com time to read: +2 min

Gold prices moved in a tight range on Wednesday after two-straight sessions of declines, as investors refrained from making large bets ahead of U.S. Federal Reserve Chairman Jerome Powell's congressional testimony. Spot gold held its ground at $1,936.03 per ounce by 0504 GMT. In this light, Chairman Powell's testimony could have a major short-term impact on the market," said Clifford Bennett, chief economist at ACY Securities. "For the moment gold is under the great interest rate threat hammer, but the very real on-going strong jewelry and manufacturing demand should eventually win the day," Bennett added. Among other precious metals, spot silver fell 0.4% to $23.0973 per ounce, platinum shed 0.6% to $957.16, and palladium lost 0.3% to $1,375.37.

Persons: Jerome, Powell's, Clifford Bennett, Powell, Bennett, Michael Langford Organizations: U.S . Federal, ACY Securities, U.S . House Financial, Federal Reserve, Traders, U.S ., Scorpion Minerals Locations: U.S, Washington, Asia

☆ Gold ticks up ahead of U.S. CPI, Fed meeting
▼ + stars: | 2023-06-13 | by ( ) www.cnbc.com time to read: +2 min

Gold bullion bars are pictured after being inspected and polished at the ABC Refinery in Sydney on August 5, 2020. Spot gold rose 0.2% to $1,960.59 per ounce by 0426 GMT. "The market is waiting for the U.S. Consumer Price Index and Federal Reserve Monetary Policy Committee meeting to provide a clearer direction on gold price. (However) there is a lack of catalyst for gold to outperform other asset classes regardless of U.S. Fed policy decision making," said Michael Langford, director at corporate advisory firm AirGuide. While gold is seen as a hedge against inflation, higher rates to tame price pressures generally weigh on the non-yielding asset's appeal.

Persons: Michael Langford, AirGuide's Langford Organizations: ABC Refinery, Federal, U.S, U.S . Consumer, Reserve Monetary, Reuters, European Central Bank, Bank of Japan Locations: Sydney

☆ Gold prices dip as U.S. debt deal, rate-hike bets weigh
▼ + stars: | 2023-05-30 | by ( ) www.cnbc.com time to read: +2 min

Gold and silver bars of various sizes lie in a safe on a table at the precious metals dealer Pro Aurum in Munich. Gold prices held close to a two-month low on Tuesday as optimism over a U.S. debt ceiling deal and reduced bets for a pause in the Federal Reserve's rate hike policy in June dented the metal's appeal. Spot gold was down 0.2% at $1,938.57 per ounce by 0448 GMT. U.S. President Joe Biden said on Monday he feels good about prospects for passage by Congress of the debt ceiling deal that he reached with House of Representatives Speaker Kevin McCarthy. Having navigated the financial crisis of 2008, Minneapolis Fed President Neel Kashkari worries about systemic risks.

SINGAPORE, May 11 (Reuters) - If the global energy transition is to be delivered in the coming decades, the mining industry believes there is one certainty. One thing most mining and energy transition analysts agree on is that there is currently insufficient copper production to meet anticipated demand as the world moves to electric vehicles and renewable energy technologies. If this is the case, the question is then why the future price of copper is relatively flat relative to the current price. It now takes an average of 23 years from discovery of a copper resource to a producing mine, according to data shown at the conference by Michael Langford, the executive director of consultants Airguide. The industry view is that many of the people demanding an energy transition the loudest are the very same people working hardest to make it virtually impossible to produce the necessary metals.

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