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☆ 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

☆ The biggest money managers are flocking to gold as inflation fears intensify
▼ + stars: | 2024-04-18 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Gold futures settled at a record high above $2,400 an ounce this week. The precious metal is coming off its third straight week of gains. Gold is often used as an inflation hedge because of its limited supply. @GC.1 YTD mountain Gold Professional speculators' net-long positions in gold futures and options hovered near the highest level since 2020 as of April 9, according to the Commodity Futures Trading Commission's latest data. The hedge fund star revealed that not only did he own the popular SPDR Gold Trust fund (GLD), but he also bought physical bars.

Persons: James Steel, David Neuhauser, Neuhauser, Greenlight Capital's David Einhorn, Einhorn Organizations: Citi, Investors, HSBC Securities, Gold, Commodity, Livermore Partners, CNBC, Trust, Deutsche Bank Locations: Northbrook , Illinois

☆ Cash, drugs and booze among record election bribes seized by India
▼ + stars: | 2024-04-17 | by ( Dhruv Tikekar | ) edition.cnn.com time to read: +3 min

CNN —A record quantity of bribes, including cash, booze, drugs and precious metals, has been seized by Indian election authorities in the run-up to mammoth nationwide polls that begin on Friday. The Election Commission of India (ECI) on Monday revealed it had recovered inducements worth just over $550 million since March — the largest amount in the country’s 75-year electoral history. It marks a “sharp increase” on the more than $400 million in bribes seized by the ECI in the country’s last general election in 2019, the agency said. India’s political parties and leaders routinely preach against election corruption and inducements, but the level of monitoring and tackling of graft across such a vast nation varies widely. Anti-corruption groups had long complained that the system meant a lack of transparency in donations to political parties — allowing corporations to donate large sums without disclosure.

Persons: Narendra Modi, gratis, Modi, ” Organizations: CNN, of India, Bharatiya Janta Party, BJP, “, Indian National Congress, India, Kazakhstan, India’s, Bank of India Locations: Rajasthan, Gujarat, Tamil Nadu, Karnataka, Lok, Maldives

☆ Gold hit another record high. Here's why Warren Buffett remains one of the biggest haters of the yellow metal
▼ + stars: | 2024-04-14 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

"Gold ... has two significant shortcomings, being neither of much use nor procreative," Buffett said in his 2011 annual letter. Meanwhile, if you own one ounce of gold for an eternity, you will still own one ounce at its end." Gold hit a new, all-time high above $2,400 an ounce on Friday, enjoying its third straight week of gains. Silver buying spree Buffett's vocal criticism of gold doesn't mean that he's never dabbled in precious metals. In the late 1990s, the Ben Graham acolyte went on a big silver buying spree, with Berkshire owning 129.7 million ounces of silver.

Persons: — Warren Buffett, Buffett, Gold Buffett, Croesus, Berkshire Hathaway, Ben Graham acolyte Organizations: Oracle, Investors, Berkshire Locations: East, Europe, Asia, Omaha, United States

☆ Stocks, Real Estate Will Crash When 'Everything Bubble' Pops: Kiyosaki
▼ + stars: | 2024-04-10 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Robert Kiyosaki warned an "everything bubble" spanning stocks, bonds, and real estate would pop. The "Rich Dad Poor Dad" author touted gold, silver, and bitcoin for riding out the storm. "The EVERYTHING BUBBLE, stocks, bonds, real estate SET to CRASH," he said in a recent X post. Please buy more real gold, silver, Bitcoin." The Rich Dad Company founder's latest crash warning should be treated with skepticism as his previous ones have failed to pan out.

Persons: Robert Kiyosaki, Dad, —, — he's, bitcoin, Rich Dad, founder's, Kiyosaki, Lehman Organizations: Service, Nasdaq, Federal Reserve, Credit Suisse, UBS Locations: Swiss

☆ The big, month-long rally in commodities is turning these ETFs into winners
▼ + stars: | 2024-04-06 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

Some equity funds closely tied to those commodities, such as those that invest in gold and silver miners, have soared even more. Five of the six biggest gold ETFs have seen outflows this year, totaling almost $3 billion, according to FactSet. GLD 5Y mountain Gold, and the ETFs that track it, are trading at record highs in early 2024. The fund's holdings include gold, silver, platinum and palladium. Meanwhile, Teucrium has several ETFs focused on agricultural commodities that have climbed over the past month as well, including the the Teucrium Soybean Fund (SOYB) , up over 3%.

Persons: Jake Hanley, Hanley, Robert Minter, Minter, Teucrium Organizations: United States Oil Fund, Hershey Locations: East, Europe

☆ Gold pauses record rally ahead of U.S. jobs data
▼ + stars: | 2024-04-05 | by ( ) www.cnbc.com time to read: +2 min

Two Argor-Heraeus SA 250 gram gold bars at Solar Capital Gold Zrt. Spot gold was down 0.5% at $2,278.50 per ounce, as of 0328 GMT, after hitting a record high of $2,305.04 on Thursday. "Gold will continue to rally with normal pull-backs," Luca Santos, an analyst at ACY Securities said. Bullion was on track for a third straight weekly gain, up 2.3% so far, also driven by strong central bank buying and demand from momentum-following funds. Traders are currently pricing in about 65% chance that the Fed will cut rates in June, according to the CME FedWatch tool.

Persons: Luca Santos, Santos, Bullion, Hugo Pascal, Pascal, Jerome Powell Organizations: Heraeus, Solar, U.S ., Federal, ACY Securities, NFP, Palladium Locations: Budapest, Hungary, U.S

☆ The rally in gold could be still in the early stages, according to the charts
▼ + stars: | 2024-04-04 | by ( David Keller | ) www.cnbc.com time to read: +4 min

Our review of the charts of precious metals tells us that the recent rally in gold prices could be just the early stages of a broad advance in the second quarter and beyond. Interestingly enough, gold stocks have actually been underperforming gold for most of the last 12 months. But over the last six weeks, gold miners have shown renewed strength, outperforming spot gold. This may be just the beginning of a "catch up" trade where gold miners close the performance gap with gold. Gold stocks have been lagging behind spot gold, but that trend of underperformance has begun to change in the last six weeks.

Persons: Alan Shaw, David Keller Organizations: Gold Miners, CMT Locations: retest

☆ Investor Tribeca presents Glencore with ideas to raise shareholder value – How it may unfold
▼ + stars: | 2024-03-30 | by ( Kenneth Squire | ) www.cnbc.com time to read: +10 min

Tribeca has been a shareholder of Glencore for seven years and has been engaging with management for a year. The company has excellent core asset quality in copper, zinc and coal, as well as a world-leading commodity trading business. Notably, Bluebell Capital Partners agitated for a demerger of Glencore's thermal coal business in 2021. However, in 2023, after acquiring a 77% interest in Teck's steelmaking coal business, Glencore stated its intention to demerge its combined coal and carbon steel businesses. The same can be said for the divestment of the trading business.

Persons: Glencore, David Aylward, Gary Nagle, astutely, Berkshire Hathaway, Ivan Glasenberg, Ken Squire Organizations: Glencore, Tribeca Investment Partners, Tribeca, Financial Times, Australian Securities Exchange, London Stock Exchange, BHP, Rio Tinto, Bluebell Capital Partners, LSE, Rio, NYSE, 13D Locations: Switzerland, Australia, Africa, South America, Sydney, Melbourne, Singapore, London, Tribeca, Glencore, Swiss, Rio, Europe, cyclicality, Berkshire

☆ How to beat the retirement crisis: The founder of America's top wealth advisor explains how to properly save, and shares 2 sectors that could expedite returns if you're not on track
▼ + stars: | 2024-03-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

But let's say you're 30 years old and haven't started stashing money away; you may have difficulty getting there. And as a result of this, if you're going to live during a 30 or 40 year retirement. In Edelman's opinion, you're late to the game if you're over 25 and haven't started saving and investing. When people do set money aside, it's often in the wrong places, such as bank savings, money market accounts, and government bonds, Edelman said. All of this might sound complicated for a beginner, but diversification can be achieved through exchange-traded funds (ETFs), Edelman noted.

Persons: haven't, Ric Edelman, Barron's, Edelman, it's, aren't, Franklin Templeton Organizations: Federal Reserve, Edelman, New York Times, Trust, Vanguard Locations: America

☆ 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

☆ Billionaires going to space aim to industrialize the moon, asteroids, and Mars. It's time to set some ground rules.
▼ + stars: | 2024-03-23 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +10 min

Read previewThe space business is in bloom and, so far, it's largely unregulated. Other space startups have ambitions including asteroid mining, in vitro fertilization (IVF) in space, and space hotels. As space startups and billionaires vie for a foothold on the moon and beyond, experts say governments probably need to start setting some ground rules. Seven of the world's 10 biggest commercial space operators are based in the US, according to the Organisation for Economic Co-operation and Development. AdvertisementIn another vein, last year Florida passed a bill to protect space companies and their owners from getting sued over spaceflight passenger death or injury.

Persons: —, Jeff Bezos's, Elon Musk, Bezos, NASA What's, George Nield, Galileo, Joel Kearns, Richard Branson, Galactic's, Lyndon B, Johnson, Jeff Bezos, Joe Raedle, Michelle Hanlon, Jared Isaacman, William Shatner, Hanlon Organizations: Service, NASA, Houston, SpaceX, Business, Northeastern University, Federal Aviation Administration's, Space Transportation, JPL, FAA, Virgin Galactic, Virgin, Getty, Artemis Accords, Hague Institute, Global Justice, Washington, Companies, Shepard, Center for Air, Space, University of Mississippi School of Law, titans, US International Trade Commission, Organisation for Economic Co, Federal Communications Locations: Mars, Russia, China, Blue, Florida

☆ Buying a Rolex is easier than you think, an official retailer says
▼ + stars: | 2024-03-21 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

This story is available exclusively to Business Insider subscribers. A store director, Caitlin Hausser, walked Business Insider through how to buy a Rolex from William Barthman Jeweler in New York City. It's not as difficult to buy as other luxury accessoriesCaitlin Hausser told Business Insider that Rolex Daytona models were in the highest demand. "Rolex wants new clients," Hausser told BI. Hausser told BI that clients wouldn't have to pay for their new Rolex until it was time to pick it up.

Persons: —, Caitlin Hausser, William Barthman, Jordan Hart, Hausser, It's, Hermès Kelly, Birkin Organizations: Service, Business, New York Stock Exchange, Daytona, Rolex, Rolex Rolex Locations: Swiss, New York City, New York

☆ Gold prices near record highs
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGold prices near record highsWheaton Precious Metals CEO Randy Smallwood joins 'Money Movers' to discuss what's driving the price of Gold, if it's sustainable, and if the move is higher from adjacent commodities.

Persons: Randy Smallwood Organizations: Wheaton Precious

☆ The best time to sell your home — in 2023, listings in this period sold for $7,700 more, research finds
▼ + stars: | 2024-03-18 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Spring, the season when home buying and selling activity kicks off, is around the corner. Available housing supply is already rebounding: The number of new listings jumped 14.8% from a year ago, the largest annual gain since May 2021, according to new data from Redfin, a real estate site. Buyers are typically looking to land a new home before their children's new school year while a seller's house benefits from the fresh flowers and renewed greenery post-winter. In 2023, homes listed in the first two weeks of June sold for 2.3% more, a $7,700 boost on a typical U.S. home, according to a new Zillow analysis. "We've learned that real estate cycles don't always happen [at this] time of year," said Melissa Cohn, regional vice president at William Raveis Mortgage.

Persons: Amanda Pendleton, We've, Melissa Cohn Organizations: Zillow, Finance, William, Mortgage Locations: Redfin, U.S

☆ Gold's three-week winning streak under pressure amid U.S. inflation heat
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were on track on Friday to snap a three-week winning streak as surprisingly hot U.S. inflation readings prompted traders to re-think on how swiftly and deeply the Federal Reserve could cut interest rates this year. A reading on consumer inflation earlier this week also showed some stickiness in inflation. Higher inflation adds pressure on the U.S. Fed to keep interest rates elevated, weighing on non-yielding assets such as gold, and increasing appeal for bonds, raising the dollar. Other data showed U.S. retail sales rebounded last month, but were below analyst estimates, while fewer people sought unemployment claims. Spot platinum fell 0.4% to $927.35 per ounce, palladium dropped 0.2% to $1,066.86, while silver was up 0.6% at $24.97.

Persons: Hugo Pascal Organizations: U.S, Fed, Traders Locations: Singapore, InProved .

☆ A lower-risk way to play the gold breakout from here
▼ + stars: | 2024-03-14 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

We'll break down the rally in gold, why gold miners have been trailing it and the options trades I'm putting on from here accordingly. Investing in gold and silver mining companies, rather than purchasing the precious metals has frequently been promoted as a way to get "leverage" to the price of gold or silver. Notice that the share price of the VanEck Gold Miners ETF (GDX ) tracking the companies, has declined more than 15.5% since the highs in April of 2023. GDX GLD mountain 2023-04-13 VanEck Gold Miners ETF (companies) vs. SPDR Gold shares ETF (commodity) It should be said that GDX and Newmont Corporation pay dividends, whereas gold itself does not. Additionally gold miners are sometimes located in suboptimal geographic locations/jurisdictions where they may be subject to geopolitical factors beyond the price volatility of the commodities they produce.

Persons: Warren Buffett Organizations: Gold Miners, Newmont Corp, Gold Miners ETF, SPDR, Newmont Corporation, Mining, Consumers Locations: Washington

☆ Costco is now selling $625 packs of silver coins as well as $2,000 gold bars — and shoppers are snapping them up
▼ + stars: | 2024-03-08 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Costco is now selling packs of one-ounce silver coins, priced at $625 for 25 coins. Its CFO said that sales of the coins and Costco's 24-karat gold bars had led its e-commerce growth. AdvertisementIt's not just $2,000 gold bars you can buy from Costco — customers can now snap up $625 packs of silver coins, too, as the retailer expands its precious metals business. On Costco's website, you can snap up a 25-count pack of 2024 Canada Maple Leaf silver coins. Each coin weighs one troy ounce and is made of 99.99% pure silver, Costco says.

Persons: —, It's, Richard Galanti Organizations: Costco, Service, CNN, Business

☆ Costco sold out of $2,000 gold bars. Now, it’s selling silver coins
▼ + stars: | 2024-03-07 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

Costco recently started selling silver coins for the first time, finance chief Richard Galanti told CNN. Costco is trying to replicate its recent success with gold bars. It began selling $2,000 gold bars online in September and sold more than $100 million worth of the bars last quarter. After all, not many people are actually stashing away gold bars in their homes. We constantly buy that stuff and intentionally run out of it from time to time.”Costco is also selling precious metals as they become more valuable.

Persons: Richard Galanti, King Charles III, “, ”, Galanti Organizations: New, New York CNN, Costco, CNN, Federal Reserve, Treasury Locations: New York

☆ Gold flat ahead of US inflation data
▼ + stars: | 2024-02-13 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were little changed on Tuesday, as investors held back from making big bets ahead of a U.S. inflation report that could give fresh perspective on the timing of the Federal Reserve's first rate cut. Spot gold was flat at $2,018.71 per ounce, as of 0424 GMT, after briefly slipping to a more than two-week low of $2,011.72/Oz on Monday. All eyes are on the January U.S. consumer price index inflation data due at 13:30 GMT. Americans reported a fairly stable outlook for inflation at the start of the year, a New York Fed survey showed. Spot platinum was flat at $888.89 per ounce, palladium rose 1.5% to $905.71, and silver edged 0.1% higher to $22.71.

Persons: Tim Waterer, Wang Tao Organizations: Federal, KCM Trade, New, Fed, Reuters, U.S ., Traders, U.S Locations: Moscow, Russia, U.S, ., China, Hong Kong

☆ Gold flat as safe-haven demand offsets US dollar strength
▼ + stars: | 2024-02-09 | by ( ) www.cnbc.com time to read: +2 min

An employee puts gold bullions into a safe deposit box at Degussa shop in SingaporeGold prices were flat in light trading on Friday with Chinese markets closed for the Lunar New Year break, while a firm dollar offset safe-haven demand fueled by Middle East concerns. "Some stress in U.S. regional banks, Chinese new year demand and Middle East tensions put a floor on the metal," Hugo Pascal, a precious metals trader at InProved, said. Concerns lingered about the Middle East as Israeli forces bombed areas in the southern border city of Rafah after Prime Minister Benjamin Netanyahu rejected a Hamas truce proposal. However, palladium has since taken a lead again, up 0.6% to $892.26 per ounce, while platinum rose to $890.09. Both metals are used in making a key component in internal combustion engines, but platinum is also used in jewelry and other industries.

Persons: Hugo Pascal, Benjamin Netanyahu Organizations: Shanghai Futures, Treasury, Federal, Traders, ANZ Research Locations: Singapore, InProved, Rafah, U.S

☆ Silver set for a 'terrific year' and could outperform gold to hit a 10-year high
▼ + stars: | 2024-02-07 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

Global silver demand is forecast to reach 1.2 billion ounces in 2024, which would mark the second-highest level on record, the Silver Institute said in a recent report. "We think silver will have a terrific year, especially in terms of demand," Michael DiRienzo, executive director of the Silver Institute told CNBC. He expects silver prices to reach $30 per ounce, which would be a 10-year high, according to data from LSEG. Silver prices, like gold, tend to have an inverse relationship with interest rates. In contrast, gold prices usually rise during times of economic weakness or uncertainty.

Persons: Nicky Loh, Michael DiRienzo, Randy Smallwood Organizations: Silver Bullion, Bloomberg, Getty, Silver Institute, CNBC, Wheaton, Metals, U.S . Federal Reserve, Wheaton Precious Metals, Vw Locations: Singapore, India, U.S

☆ Gold prices to hit $2,200 and a 'dramatic' outperformance awaits silver in 2024, says UBS
▼ + stars: | 2024-02-05 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 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 and silver are expected to climb further in 2024 on expectations that the U.S. Federal Reserve will start cutting interest rates, UBS forecasts. Also this comes with a weaker dollar" said the investment bank's precious metals strategist Joni Teves, who expects the metal to hit $2,200 per ounce by the end of the year. Gold prices tend to have an inverse relationship with interest rates. As interest rates dip, gold becomes more appealing compared to alternative investments like bonds, which would yield weaker returns in a low interest rate environment.

Persons: Joni Teves Organizations: Aurum, U.S . Federal Reserve, UBS, Federal Reserve, Fed Locations: Munich

☆ CNBC Daily Open: A scorching start for U.S. jobs growth
▼ + stars: | 2024-02-05 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. "We just want some more confidence before we take that very important step of beginning to cut interest rates," he said. Gold, silver advanceGold and silver could rise further this year on hopes that the U.S. Federal Reserve will lower interest rates, said UBS. "Also, this comes with a weaker dollar," said Joni Teves, adding gold will likely hit $2,200 per ounce in 2024.

Persons: Jerome Powell, Hong, Joni Teves Organizations: CNBC, U.S . Federal, CSI, Dow, Nasdaq, UBS, U.S, Senators, House Republicans, Citi Locations: China, U.S, Ukraine, Israel

☆ UBS strategist explains how to get exposure to gold if its price hits $2,200
▼ + stars: | 2024-01-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUBS strategist explains how to get exposure to gold if its price hits $2,200Joni Teves, precious metals strategist at UBS, discusses its bullish call on gold and the outlook for the U.S. Federal Reserve's monetary policy, saying UBS is "ahead of consensus."

Persons: Joni Teves Organizations: UBS, U.S, U.S . Federal Locations: U.S .

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