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AdvertisementFor more than a decade, Big Tech companies doled out lavish perks to hire and retain a limited supply of technical talent — and some workers pushed the limits of these benefits. AdvertisementBusiness Insider interviewed tech workers and industry experts about Grubgate and the evolving relationship between Big Tech companies and staff. They also described how layoffs, efficiency drives, and tougher policy enforcement have shifted the culture at once easygoing tech companies. According to job marketplace Trueup, at least 650,000 tech workers have been cut since the start of 2023. Alongside industrywide layoffs that began in 2022, many tech companies also trimmed back the benefits on offer.

Persons: —, Meta, grifting, that's, Allison Shrivastava, it's, Googler, Mark Zuckerberg, Zuck, Patrick Mork, Wall, Mork, Dilip Rao, he's, Bruce Daisley, Daisley Organizations: Big Tech, Service, Google, Meta, US Meta, Snap, Nintendo, Twitter, YouTube Locations: Silicon Valley, Mountain View, Tupperware, US, Meta

☆ Wall Street braces for a Trump or Harris presidency. Here's what that means for your portfolio.
▼ + stars: | 2024-10-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, the first of our five-part refresher series on the potential impact Donald Trump and Kamala Harris presidencies could have on US consumers. Business Insider's Matthew Fox detailed how Wall Street sees former President Donald Trump and Vice President Kamala Harris affecting the investment landscape if they win the White House. One of the biggest areas where Harris and Trump differ is their proposed tax policies, which are believed to have big impacts on stocks. AdvertisementTrump's universal tariffs proposal is also viewed as having a big impact. It's a big week for Apple.

Persons: —, Donald Trump, Kamala Harris, Jenny Chang, Rodriguez, Matthew Fox, Harris, Trump, it's, Alyssa Powell, Joe Biden, Steve Sosnick, Neil Dutta, Goldman Sachs, Morgan Stanley, Rebecca Zisser, Elon Musk, James Yates, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Getty, BI, White, Bank of America, Interactive Brokers, JPMorgan, Twitter, Elon, Apple, Apple Intelligence, iOS, Venture, Ford Motors, MLB, LA Dodgers, New York Yankees, Forbes Locations: It's, New York, London, Chicago

☆ Gold prices have surged in 2024. Here’s how to get in on the gold rush
▼ + stars: | 2024-10-27 | by ( Erika Tulfo | ) edition.cnn.com time to read: +4 min

“Buying gold has never been easier and more accessible.”While gold, typically invested in as a hedge against inflation, has shined this year, there are plenty of things to know before investors join the gold rush. How do you actually go about buying gold? Another consideration when buying gold in the retail market is how the sticker price of the bullion compares to the spot price of gold. But Cavatoni advises having a “round-trip mentality” when purchasing physical gold, emphasizing the importance of the selling stage as much as the purchase process. On the other hand, gold-backed ETFs free consumers from the considerations that need to be made when purchasing physical gold.

Persons: ”, Joseph Cavatoni, “, Cavatoni, “ It’s, ” Cavatoni, prudently Organizations: CNN, Costco, World Gold, of Labor Statistics Locations: China, India, Turkey

☆ 4 ways to add gold to your portfolio as investors pile in and send prices to record highs
▼ + stars: | 2024-10-24 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

Below, two gold experts share four ways investors can add gold to their portfolios. AdvertisementIn general, physical gold is a less liquid way to own the asset and is quite costly. Synthetic gold ETFs don't hold physical gold, investing instead in gold derivatives such as futures and options. In Milling-Stanley's opinion, investing in mining stocks instead of directly investing in gold erodes some of the metal's portfolio protection, as mining stocks behave more in line with the general equity market. Royalties limit the holder's exposure to the risks associated with directly investing in mines, such as exploration, development, and regulatory compliance.

Persons: —, Jeff Muhlenkamp, they'll, George Milling, Stanley, Muhlenkamp Organizations: Service, Costco, Muhlenkamp & Company, State Street Global Advisors, Trust, MiniShares, Mining, Eagle Mines, Newmont Mining Corp, Wheaton Precious Metals Locations: Franco, Nevada

☆ Here's where investors worried about a stock market bubble should put their money, according to a top economist
▼ + stars: | 2024-10-19 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Investors worried about a market correction should adjust their portfolios, David Rosenberg says. The top economist has warned stocks are in a bubble and at risk of a major decline. Investors need to exercise caution and avoid following the "herd mentality," Rosenberg said, pointing to the fervor for mega-cap tech stocks. Instead, he said, investors should focus on stocks with strong business models, strong growth, and good prices, and add some "insurance" to their portfolios. Most forecasters on Wall Street still expect a strong performance from equities into year-end and 2025.

Persons: David Rosenberg, —, who's, he's, Chuck Prince, Rosenberg, REITs, Goldman Sachs Organizations: Service, Rosenberg Research, Utilities, Aerospace, UBS, BMO, Deutsche Bank Locations: —

☆ Gold climbs to record high as Hamas-leader death stokes geopolitical tensions
▼ + stars: | 2024-10-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Gold reached reached a new-all time high on Friday, topping $2,700 for the first time. Geopolitical tensions have been a driving force behind gold's record-setting rally in 2024. AdvertisementGold hit another record high amid simmering geopolitical unease in the Middle East. Futures climbed as much as 1% to $2,720 an ounce on Friday as the death of Hamas leader Yahya Sinwar late Thursday spurred renewed concerns of further geopolitical tension. According to analysts at ING, gold investors were responding to Israel's pledge to continue fighting, rather than de-escalate, per President Joe Biden's recommendation.

Persons: Gold, —, Yahya Sinwar, Joe Biden's, They've, Israel, Benjamin Netanyahu, Joe Biden, Alex Kutsikevich, there's Organizations: Service, ING, Traders, Reuters, UN Locations: Iran, Asia

☆ Gold is the 'last safe haven' as Treasurys face risks from soaring US debt, Bank of America says
▼ + stars: | 2024-10-17 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Traders and central banks should increase exposure to gold, Bank of America says. The analysts see gold hitting $3,000 an ounce by the end of next year, implying 11% upside. AdvertisementGold is increasingly attractive as other traditional "safe haven" assets face mounting risks, Bank of America strategists said. "Gold looks to be the last 'safe haven' asset standing, incentivising traders including central banks to increase exposure," the strategists said in a Wednesday note. The Bank of America analysts note that gold now makes up 10% of central bank reserves, up from 3% a decade ago.

Persons: — Organizations: Bank of America, Service, International Monetary Fund, US Treasury, Investors, Federal Reserve

☆ How to keep betting on a Meta breakout with protection in case of a pullback
▼ + stars: | 2024-10-02 | by ( Tony Zhang | ) www.cnbc.com time to read: +3 min

The strategic focus Meta has placed on monetizing these AI tools across its platforms — including Facebook, Instagram, and WhatsApp — gives it a unique competitive advantage. This commitment to revenue generation from AI sets it apart from other firms still exploring AI potential without clear paths to monetization. If we review the chart for Meta, it has shown strong performance, recently breaking above a key resistance level at $545. Meanwhile, the company boasts robust growth projections with an expected future EPS growth of 22% (industry average of 16%) and a revenue growth rate of 15% (industry average of 11%). With these growth and profitability metrics, Meta appears undervalued, offering a compelling risk/reward profile for long-term investors looking to benefit from its AI-driven revenue potential.

Persons: WhatsApp, Meta Organizations: Facebook, Meta, CNBC, NBC UNIVERSAL

☆ Hands-on with Meta's Orion AR glasses prototype and the possible future of computing
▼ + stars: | 2024-09-27 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Meta CEO Mark Zuckerberg presents Orion AR Glasses, as he makes a keynote speech during the Meta Connect annual event, at the company's headquarters in Menlo Park, California, U.S. September 25, 2024. The most impressive aspect of Meta's Orion augmented-reality glasses has more to do with size and comfort than flashy computer graphics. Meta CEO Mark Zuckerberg revealed the Orion glasses on Wednesday and pitched them as "a glimpse of a future that I think is going to be pretty exciting." While Orion is not capable of putting users in fully virtual worlds, the glasses can overlay digital graphics onto the real world. And unlike VR headsets that can be cumbersome to wear for extended periods, Boorstin said she found the Orion glasses to be a good fit.

Persons: Mark Zuckerberg, Orion, Julia Boorstin, Boorstin, they're Organizations: Meta, CNBC, Orion, Connect, Apple Vision Locations: Menlo Park , California, U.S

☆ Gold’s hitting new records again. Here’s what it means for the economy
▼ + stars: | 2024-09-25 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

Gold, traditionally perceived as a haven, has climbed roughly 30% this year, outperforming the benchmark S&P 500 index’s 20% gain. Fresh consumer confidence data on Tuesday indicated that Americans are feeling pessimistic about the US economy and future of the job market. JPMorgan Chase researchers said in a note on Monday that they expect the yellow metal to continue running toward their 2025 target price of $2,850 an ounce as the Fed brings down rates. Silver, another precious metal that tends to move in tandem with gold, has jumped roughly 34% this year, outperforming the yellow metal. New moves from China to revive its economy also has the potential to lift precious metals, said Rhind.

Persons: Jerome Powell, ”, Kristina Hooper, JPMorgan Chase, “ There’s, Will Rhind, Rhind Organizations: New, New York CNN, Federal Reserve, Traders, JPMorgan, Treasury, GraniteShares, Citi Locations: New York, China, Turkey, India, China’s

☆ Mark Cuban slams Trump's new silver coins as a bitcoin betrayal and an attempt to profit from his supporters
▼ + stars: | 2024-09-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

In an X post On Saturday, the tech billionaire shared the Republican presidential candidate's promotional video for Official Trump Coins, in which Trump hailed them as a "true symbol of American greatness." "He is selling the silver coins as a collectible that could increase in value …. He also suggested Trump's endorsement of the coins means he can't be trusted as a business partner or investor. Cuban asked on X.AdvertisementHe continued: "Would you tell ANYONE you know to get business or investment advice from a person selling these coins?" Cuban has repeatedly criticized Trump in recent weeks while championing Vice President Kamala Harris, Trump's rival in this year's presidential race.

Persons: —, Cuban, Donald Trump, he's, Trump, Warren Buffett, They're, Trump's, Kamala Harris, He's, Trump Organization didn't Organizations: Service, Republican, Trump, Business, btc, Maxis, Dallas Mavericks, White, JBCZ Group, CIC Digital, CIC Ventures, CIC, Trump Organization Locations: bitcoin

☆ Gold prices holds steady with U.S. CPI data on radar
▼ + stars: | 2024-09-11 | by ( ) www.cnbc.com time to read: +2 min

Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold prices steadied on Wednesday, as investors keenly awaited the U.S. inflation data for hints on the size of the Federal Reserve's potential interest rate cut next week. The U.S. Consumer Price Index data is due at 1230 GMT, while the Producer Price Index reading and initial jobless claims are due on Thursday. The Fed will lower interest rates by 25 basis points at each of the three remaining policy meetings in 2024, according to a majority of economists in a Reuters poll. Zero-yield bullion tends to be a preferred investment amid lower interest rates and geopolitical turmoil.

Persons: Matt Simpson, Price, Jerome Powell's, Peter Fung, Yoav Gallant Organizations: Aurum, Federal, Index, U.S, Consumer, Metals Locations: Gaza, Lebanon

☆ Gold is outperforming tech stocks this year, and investors should keep buying, BofA says
▼ + stars: | 2024-08-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Bank of America strategist Michael Hartnett advises buying gold amid record-high prices. Gold's year-to-date rally of about 20% is outperforming US tech stocks. AdvertisementInvestors should buy gold even as the metal hovers around record-high prices, according to Bank of America investment strategist Michael Hartnett. AdvertisementHartnett noted that gold is the only asset that's outperforming US tech shares. AdvertisementThe juxtaposition of record-high gold prices and negative outflows is "explained only by unprecedented central bank buying," Hartnett said, adding China's central bank was the largest buyer of gold in 2023.

Persons: Michael Hartnett, Hartnett, —, haven't Organizations: of America, stoke, Service, Bank of America, Federal Reserve, 2nd

☆ 'Big Short' investors are bullish on gold because money is devaluing too quickly
▼ + stars: | 2024-07-29 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Three famed "Big Short" investors say gold remains a top long-term bet. Danny Moses, Porter Collins, and Vincent Daniel went on CNBC to explain why they're bullish. They cite rising debt levels, which they say could result in a "huge debasement" of the dollar. AdvertisementInvestors should be scooping up more gold for the long haul, according to three investors of "Big Short" fame. Collins and Daniel — the co-founders of Seawolf Capital — said they remained long on gold, gold miners, and precious metals like silver in their annual letter to shareholders.

Persons: Danny Moses, Porter Collins, Vincent Daniel, —, Vincent Daniel —, Collins, Daniel, Daniel —, Moses, Gold, we've Organizations: CNBC, Service, Treasury, stoke, Seawolf, Moses Ventures Locations: US

☆ A Costco gold collector has bought more than $100,000 of coins this year — mostly for flipping
▼ + stars: | 2024-07-28 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

The real kicker, however, is the company's 2% rewards offer for Executive members, plus an another 2% reward for holders of the Costco credit card. One Costco member told Business Insider says he uses these percentage-point differences to make up to $500 per week buying coins and flipping them to online dealers and to local shops. "For me, gold is gold," he said, "but there's always more demand for Mint." Driving through Texas one day he stopped into a Costco warehouse that happened to have US gold buffalo coins in stock. AdvertisementIn just the past six months, the member has bought more than $110,000 worth of gold, according to credit card transactions reviewed with BI.

Persons: —, it's, there's, he's Organizations: Service, Business, Costco, BI, US, Mint Locations: Swiss, Texas

☆ Going for gold — Three 'Big Short' traders say the precious metal is a major long
▼ + stars: | 2024-07-27 | by ( Ellie Stevens | ) www.cnbc.com time to read: +2 min

"The Big Short" traders Danny Moses, Vincent Daniel and Porter Collins are focused on one of their top long bets: gold. "I just don't think Americans have enough gold in their portfolio," Collins said on CNBC's " Fast Money " in an exclusive interview this week . We are still very long gold , gold miners , Silver , Platinum Group Metals (PGMs) and Bitcoin ," they wrote. In a special email to "Fast Money" on Monday, Moses wrote he has a "large long" in the Sprott Physical Gold Trust . As of Friday's close, the Sprott Physical Gold trust is up more than 16% so far this year.

Persons: Danny Moses, Vincent Daniel, Porter Collins, Collins, Daniel, Moses Organizations: Seawolf, Group Metals, Moses Ventures, Trust Locations: U.S

GLD 5Y mountain GLD The SPDR Gold Shares ETF is the world's largest, with BlackRock's iShares Gold Trust and iShares Physical Gold ETC the second and third, respectively. Other top physical gold ETFs include the Borse Commodities GmbH Xetra-Gold and the SPDR Gold MiniShares Trust . Gold mining ETFs Buying gold mining ETFs — which own shares of multiple gold mining companies — is another way to get exposure to gold, and Meyer described those backed by large banks as "relatively safe," in an email to CNBC. "Even though gold equities respond to changes in gold price, the degree of that response has deteriorated over time," he said, adding that the risks and costs of gold extraction can weigh on miners. A selection of gold bars and one-ounce gold coins at Gold Investments Ltd. bullion dealers in London, UK, on Tuesday, May 21, 2024.

Persons: Tom Price, Price, Berenberg, Robin Bhar, Amy Arnott, John Meyer, Colin Hamilton, BlackRock's, Meyer, Barrick Gold Panmure Liberum, George Milling, Stanley, they're, Morningstar's Arnott, Bhar, Chris Ratcliffe Organizations: CNBC, Panmure, Bank of America, Citi, UBS, Gold, Morningstar, SP, CNBC Pro, Royal Mint, BMO Capital Markets, Borse Commodities, MiniShares, Gold Miners ETF, Miners, Barrick, Resolute Mining, Hochschild, Caledonia Mining, Barrick Gold Panmure, Endeavour Mining, Endeavour, Pan, Resources, State Street Global Advisors, Gold Investments, Bloomberg, Getty Locations: Panmure Liberum, U.S . New York, United States, U.S, Hochschild Mining, Zimbabwe, London, West Africa, Berenberg

Best Investing Apps of 2024Top Investing Apps of 2024The best investment apps help you achieve wealth-building goals while diversifying your portfolio and providing the accessibility and convenience of mobile trading for the everyday investor. Here are the best investment apps available to traders, as chosen by Business Insider's editors in 2024. Best Investing App OverallE*TRADE is a one-stop shop for investing and the overall best app. Betterment reviewBest Investing App for MobileAs one of the best stock trading apps for beginners, Acorns Invest is the best investing app for mobile traders seeking automated trading strategies and customized ETF portfolios. Best Investment Apps FAQsWhat is the best app to start investing on?

Persons: you'll, Vanguard's, Wealthfront, you've, Charles Schwab, we've, Brian Fry, Charlotte Geletka, Kaysian Gordon Organizations: Business, Mobile, Finance, M1 Finance, M1, IRA, Vanguard, Stock Market ETF, Bond, Blackrock, Invest, Chevron, SoFi Invest, Fidelity, Apple

Fidelity vs. Charles Schwab: At a GlanceFidelity and Charles Schwab are two of the largest and most reputable brokerage firms featured in several of our guides, including the best robo-advisors. Making a Choice: Fidelity vs. Charles SchwabFidelity Investments and Charles Schwab are great for all kinds of traders. Charles Schwab is better for higher balances and offers a more comprehensive selection of advanced charting tools like the thinkorswim platform. Fidelity vs. Charles Schwab Frequently Asked Questions (FAQs)Can I open both Fidelity and Charles Schwab accounts? You can open both a Fidelity and Charles Schwab brokerage account to take advantage of each platform's best features and services.

Persons: Morningstar, Charles Schwab Insider’s, Schwab, Charles Schwab, It's, Charles Schwab's, Schwab's Organizations: Fidelity Investments, Fidelity, Business Daily, Investment, Financial Products Fidelity, Teen, Charles, U.S, Fidelity Wealth Services, Technology, Pro, screeners, Schwab, Ameritrade, Charles Schwab Fidelity Investments Locations: cryptocurrencies, Chevron

☆ It’s not just Bob Menendez: Americans really love gold bars
▼ + stars: | 2024-07-16 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

Menendez maintains his innocence and plans to appeal the verdict, he told reporters outside the Manhattan courtroom on Tuesday. The discovery that Menendez owned a hoard of gold bars stunned many people. And now even Costco sells gold bars. The two kilograms and 11 ounces worth of gold bars Menendez and his wife possessed would have been worth over $185,000 as of Tuesday, according to Goldprice.org data. Other people who prefer to keep gold under their own roof store it in a gun safe or floor safe, he added.

Persons: Sen, Bob Menendez, Menendez, Jonathan Rose, ” Rose, ’, ”, Rose, it’s Organizations: New York CNN, Bank, Genesis Gold, Western Alliance, CNN, Costco, Dow, IRS Locations: New York, Manhattan, Beverly Hills , California

☆ Voice of Baceprot prepare for Glastonbury debut, metal-mad Indonesia cheers
▼ + stars: | 2024-06-27 | by ( Heather Chen | ) edition.cnn.com time to read: +12 min

“Indonesia is home to the most metal fans in Asia so heavy metal bands love coming to play here,” said Hammersonic CEO Ravel Junardy. Lamb Of God vocalist Randy Blythe performs during Hammersonic in Jakarta, Indonesia on March 9, 2015. Indonesian heavy metal band Death Vomit from Yogjakarta are known for their ferocious and brutal sound. Rajawali IndonesiaGerman metal band Kreator holds up a banner during their performance at the Jogjarockarta festival on January 27, 2024. She first saw them live at a music festival in Singapore back in 2021 and says she is looking forward to their Glastonbury debut.

Persons: Sza, Firda “, ” Kurnia, ”, Marsya, Euis Siti Aisyah, Widi Rahmawati, metalhead –, “, Miikka Skaffari, Firda Kurnia, Tom Morello –, replaying, Malala Yousafzai, VOB, Anthrax, Joko Widodo, Olivia Rondonuwu, Indonesia’s, Sukarno, “ Sukarno, Jeremy Wallach, Suharto, ” Wallach, Metallica, –, Widodo, Metallica’s Robert Trujillo, Jokowi, Metallica's Robert Trujillo, Slipknot, Lamb, God, Ravel Junardy, Randy Blythe, Eddy Purwanto, Dave Mustaine, Corna Irawan, Anas Syahrul Alimi, Anas, “ Dave Mustaine, ” Anas, Kreator, Dougie, Mark LeVine, ” LeVine, LeVine, Faezah Eli Organizations: CNN, Dua Lipa, Coldplay, Jakarta Institute of Arts, Malala, “, ” “, Getty, Western, AFP, Megadeth, Rajawali, Machine, Glastonbury Locations: Indonesia, Britain, Dua, Glastonbury, Indonesian, Damar, Oakland , California, Jakarta, Bay, AFP, ” “ Jakarta, “, West, Southeast Asia, “ Indonesia, Asia, Sweden, Finland, Java, Yogyakarta, Rajawali Indonesia German, Rajawali Indonesia, Surabaya, East, North Africa, Egypt, Singapore, Malaysia, United Kingdom

☆ Here are the next drivers of Costco growth after a great quarter and a stock near records
▼ + stars: | 2024-05-31 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Costco has multiple levers of growth at its disposal, which should lead to a further boost in the stock even after its already impressive year-to-date gains. "If you're disappointed, go to another stock," Jim Cramer said during Friday's Investing Club's Morning Meeting . Jim said investors should not be concerned about the pullback because the stock often drops the day after earnings. COST 1Y mountain COST 1-year stock performance. In addition to exceeding estimates on the top and bottom lines in its fiscal 2024 third quarter, Costco turned in a better-than-expected 6.5% comparable sales increase.

Persons: Jim Cramer, Jim, Costco, Ron Vachris, Gary Millerchip —, Millerchip, Vachris, D.A, Davidson, Redburn, Rich Galanti, it's, Jim Cramer's, John Keeble Organizations: Costco, Walmart, Kroger, Costco Logistics, CNBC, Lakeside, Getty Locations: U.S, Japan, Korea, China, Grays, United Kingdom

☆ 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

☆ China's gold rush shows the Chinese still have money to spend — they're just not into Starbucks or Gucci
▼ + stars: | 2024-05-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

It also reflects that there's money in the system — but Chinese consumers are just really not that keen on dropping their hard-earned cash at Starbucks or Gucci. China's demand for gold jewelry softened in the first quarter of this year due to the surge in gold prices but was still holding up well, according to the council. Gen Z Chinese consumers ditch luxury for goldUnlike the rush into gold assets, Chinese consumers are not running out to buy even more stuff, particularly foreign imports. China's savings rate was around 32% last year — compared to around 4% in the US, according to a McKinsey analysis of official data. "Chinese households are increasingly confronted by the weak long-term Chinese growth outlook and the slumping prices in China's residential real estate market," said Biswas.

Persons: —, Rajiv Biswas, Gen, LVMH Moët Hennessy Louis Vuitton, Gucci, Yves Saint Laurent, Laxman Narasimhan, Nomura, Lynn Song, Jean, Jacques Guiony, Biswas, McKinsey Organizations: Service, Gucci, Business, World Gold, Bloomberg, Starbucks, Huawei, Nomura, ING, McKinsey Locations: Japan, China, American, Greater China

☆ Some central banks have sold gold at record prices, cashing in on the global boom
▼ + stars: | 2024-05-21 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewCentral banks around the world have been snapping up gold, sending prices of the metal to record highs. The country's gold stash accounted for nearly three-quarters of its reserves as of March this year, according to WGC data. In 2022, Uzbekistan produced 110.8 tons of gold, making it the 10th top gold producer in the world, per WGC. Uzbekistan gold mining in March 2024. The country legalized private gold digging in 2019, and any gold found must be traded via its central bank.

Persons: —, it's, VYACHESLAV OSELEDKO, Shavkat Mirziyoyev Organizations: Service, Business, World Gold, Central Bank of, Uzbek, AFP Locations: China, Saudi, Central Bank of Uzbekistan, Thailand, Kazakhstan, Uzbekistan, Kazakh

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