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☆ Gold steady as Fed officials adopt dovish policy tone
▼ + stars: | 2023-10-11 | by ( ) www.cnbc.com time to read: +2 min

Gold prices held near a more than one-week high on Wednesday as the dollar edged lower after several U.S. Federal Reserve officials suggested that the recent surge in Treasury yields might make further rate hikes less necessary. Spot gold was trading at $1,859.43 per ounce as of 0529 GMT after hitting its highest level since Sept. 29 on Tuesday. The dollar dipped to nearly a two-week trough against a basket of currencies, tracking a slide in U.S. Treasury yields that have retreated from their 2007 highs scaled last week. Higher rates raise the opportunity cost of holding gold, which is priced in dollars and does not yield any interest. Elsewhere, spot silver rose 0.2% to $21.85 per ounce, platinum gained 0.6% to $885.93 and palladium added 0.5% at $1,175.13.

Persons: Kelvin Wong, Neel Kashkari, Raphael Bostic, Wong Organizations: . Federal Reserve, Treasury, Asia Pacific, OANDA . Minneapolis, Atlanta Fed, CPI Locations: Moscow, Russia, ., U.S, OANDA

☆ Events in the Middle East won't have a 'major negative impact' on global markets, UBS says
▼ + stars: | 2023-10-10 | 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 EmailEvents in the Middle East won't have a 'major negative impact' on global markets, UBS saysKelvin Tay, regional chief investment officer of UBS Global Wealth Management, says the Russia-Ukraine war was "much bigger" for global markets, but they "are a lot higher than where they were prior to the outbreak of the conflict."

Persons: Kelvin Tay Organizations: UBS, UBS Global Wealth Management Locations: Russia, Ukraine

☆ Kelvin Kiptum Breaks Men’s Marathon World Record in Chicago
▼ + stars: | 2023-10-09 | by ( Laine Higgins | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/sports/kelvin-kiptum-marathon-world-record-eliud-kipchoge-f12622ed

Persons: Dow Jones

☆ Oil Futures Surge on Concern Israel-Hamas Conflict to Escalate
▼ + stars: | 2023-10-09 | by ( ) www.wsj.com time to read: 1 min

Oil prices surged after the conflict between Israel and Hamas intensified, and traders are watching for spillover effects on oil supply in the region. Futures for Brent crude, the global benchmark, rose about 4% to $87.97 a barrel, and West Texas Intermediate crude futures climbed 4.3% to $86.36 a barrel on Monday in Asia. The moves were a knee-jerk response from the market, said Kelvin Yew, a senior oil trader at the commodity-trading firm Ocean Leonid Investments. “There is very little oil production in that region, but the market is pricing in the possibility of an escalation,” Yew said. Iranian security officials helped plan Hamas’s attack on Israel, The Wall Street Journal has reported.

Persons: Kelvin Yew, ” Yew, Yew Organizations: Brent, West Texas, Investments Locations: Israel, Asia, U.S, Iran

☆ Kelvin Kiptum smashes men’s marathon world record in Chicago
▼ + stars: | 2023-10-08 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —Kenya’s Kelvin Kiptum broke the men’s marathon world record in Chicago on Sunday, becoming the first person to record a time faster than 2:01:00, crossing the line in 2:00:35. “I knew I was coming for a course record, but a world record – I am so happy,” Kiptum said afterwards, according to World Athleteics. He had remained outside world record pace at the halfway point with a time of 1:00:48 but accelerated 10 kilometers from the finish to seal his place in the history books. Kiptum poses with his medal and the clock after setting a world record men's marathon time of 2:00:35. Meanwhile, Sifan Hassan broke the women’s course record in Chicago with a time of 2:13:38, the second-fastest ever race, as she made her US marathon debut.

Persons: Kelvin Kiptum, Eliud Kipchoge, Kenya’s Benson Kipruto, Belgium’s Bashi Abdi, “, ” Kiptum, ”, Kiptum, Michael Reaves, Sifan Hassan, Switzerland’s Marcel Hug, Catherine Debrunner Organizations: CNN, Athletics, Kenyan, US Locations: Chicago, London, Kipchoge’s

☆ As US and Mexico seek more migrant deportation flights, Venezuelans press on
▼ + stars: | 2023-10-06 | by ( Elida Moreno | ) www.reuters.com time to read: +3 min

On Thursday, the U.S. said it was restarting deportations of Venezuelans who cross the U.S.-Mexico border unlawfully. Mexico, on Friday, said it was seeking to return migrants to Brazil, Colombia, Cuba, Nicaragua and Venezuela. A record of 417,000 migrants have crossed the Darien Gap this year, more than double the number in all of last year. "Crossing the Darien is hell," said Panama President Laurentino Crotizo in a statement, after touring the area via plane with Costa Rica counterpart Rodrigo Chaves. In the last three weeks, more than 27,000 migrants have been "persuaded to get down from trains," INM said.

Persons: Laurentino Cortizo, Rodrigo Chaves, Lajas, Sherly, Kelvin Romero, Laurentino Crotizo, Ana Cordova, INM, Elida Moreno, Valentine Hilare, Beth Solomon, Stephen Eisenhammer, Sandra Maler Organizations: Costa Rica, REUTERS Acquire, Migration Institute, Ore, Thomson Locations: Panama, Costa, Darien province, U.S, Mexico, Colombia, Venezuela, Brazil, Cuba, Nicaragua, Darien, Costa Rica, Venezuelan, Meteti, Mexico City

NEW YORK (AP) — Rupert Murdoch, the 92-year-old Australian media magnate whose creation of Fox News made him a force in American politics, is stepping down as leader of both Fox's parent company and his News Corp. media holdings. Fox said Thursday that Murdoch would become chairman emeritus of both companies, effective at board meetings in November. Stock in Fox Corp., while positive this year, began to decline early in 2022, due in part to lawsuits and investor anxiety over the loss of viewers to smaller media outlets. While Murdoch never ran for political office, politicians in the United States and Britain anxiously sought his approval. Murdoch dismissed them as isolated instances that were “largely political because we're conservative.”Shares of News Corp. and Fox rose Thursday in early trading.

Persons: — Rupert Murdoch, Fox, Murdoch, Lachlan, Lachlan Murdoch, Rupert Murdoch, Tucker Carlson, Michael Wolff, ”, Paolo Pescatore, ” Murdoch, James, Elisabeth, Prudence, Donald Trump, Wolff, Trump, Ron DeSantis, DeSantis, Britain's, Roger Ailes, Bill O'Reilly, ___, Kelvin Chan, Jill Lawless Organizations: Fox News, News Corp, Fox Corp, Fox, ABC, CBS, NBC, Street Journal, New York, Walt Disney Co, Marvel, Geographic, Channel, CNN, MSNBC, Stock, “, Foresight, HBO, Forbes, Florida Gov, Sky, Sunday Times, Sun Locations: Adelaide, Australia, United States, Britain, Sky, London

☆ Analysis-More SE Asia firms consider U.S. IPOs, filling void left by China peers
▼ + stars: | 2023-09-18 | by ( Yantoultra Ngui | Scott Murdoch | ) www.reuters.com time to read: +5 min

“These factors have enabled some of their ASEAN rivals to step out into the spotlight.”ASEAN, the 10-member Association of Southeast Asian Nations, includes Thailand, Singapore, Malaysia and Vietnam. For investors seeking emerging market exposure, Southeast Asia fits the bill, because of the region’s strong economic growth and increasing population, analysts say. Some Southeast Asia companies seeking listings in the U.S. look to raise between $300 million and $1 billion, with valuations ranging from $1.5 billion to $8 billion, bankers said, without naming any firms. “International investors are seeing the value of portfolio diversification that Southeast Asia provides,” Tay added. The expected pickup in Southeast Asian listings, however, could get derailed by share volatility and stringent investor scrutiny, analysts say.

Persons: ”, Leif Schneider, Sunil Khaitan, Kelvin Teo, Andrew Lim, Tay Hwee Ling, ” Tay, Anuruk Karoonyavanich Organizations: Nasdaq, REUTERS, Gushcloud International, Sunday, Reuters, VNG Corp, ASEAN, Association of Southeast Asian Nations, Carsome, Southeast, Bank, America’s, “, U.S ., ’, Companies, Deloitte, “ International, DBS Locations: SINGAPORE, SYDNEY, United States, New York City, U.S, Singapore, New York, Philippine, Washington, Beijing, Vietnam, Thailand, Malaysia, Asia, Indonesia, Southeast, Southeast Asia, China

ASEAN, the 10-member Association of Southeast Asian Nations, includes Thailand, Singapore, Malaysia and Vietnam. For investors seeking emerging market exposure, Southeast Asia fits the bill, because of the region's strong economic growth and increasing population, analysts say. Some Southeast Asia companies seeking listings in the U.S. look to raise between $300 million and $1 billion, with valuations ranging from $1.5 billion to $8 billion, bankers said, without naming any firms. "International investors are seeing the value of portfolio diversification that Southeast Asia provides," Tay added. The expected pickup in Southeast Asian listings, however, could get derailed by share volatility and stringent investor scrutiny, analysts say.

Persons: DoubleDragon, Leif Schneider, Sunil Khaitan, Kelvin Teo, Andrew Lim, Tay Hwee Ling, Tay, Anuruk Karoonyavanich, Yantoultra Ngui, Scott Murdoch, Sumeet Chatterjee, Miral Organizations: Nasdaq, REUTERS, U.S, IPOs, Gushcloud International, Sunday, Reuters, VNG Corp, ASEAN, Association of Southeast Asian Nations, Carsome, Southeast, Bank, America's, U.S ., Deloitte, International, DBS, Thomson Locations: New York City, U.S, Asia, SINGAPORE, SYDNEY, United States, Singapore, New York, Philippine, Washington, Beijing, Vietnam, Thailand, Malaysia, Indonesia, Southeast, Southeast Asia, China, Sydney

☆ 'Learning period' for US commercial space regulations should be extended -US Sen. Cruz
▼ + stars: | 2023-09-13 | by ( Joey Roulette | ) www.reuters.com time to read: +3 min

REUTERS/Go Nakamura/File photo Acquire Licensing RightsWASHINGTON, Sept 13 (Reuters) - A federal moratorium on commercial spaceflight safety regulations should be extended to support more innovation in the space sector, U.S. The fast-growing sector since 2004 has been shielded from federal safety regulations by what is widely called a "learning period." "Now is not the time to impose new regulations on commercial space," Cruz said, speaking on the sidelines of an industry conference in Washington. The moratorium, established by the Commercial Space Launch Amendments Act of 2004, was most recently extended in 2015. The law requires private space companies that send humans into space to have passengers sign "informed consent" documents acknowledging the absence of federal safety regulations.

Persons: Ted Cruz, Artemis, Go Nakamura, Cruz, Doug Ligor, Ligor, Kelvin Coleman, it'll, Elon, Jeff Bezos, Joey Roulette, Chris Reese, Leslie Adler, Daniel Wallis Organizations: NASA, REUTERS, Rights, Federal Aviation Administration, RAND Corporation, RAND, FAA, Spaceflight, Senate, SpaceX, Origin, Shepard, Virgin Galactic, Thomson Locations: Houston , Texas, U.S, Washington, American, Texas, Van Horn

But he’s hoping that they will give senators some realistic direction as he tries to do what Congress hasn't done for many years — pass meaningful regulation of the tech industry. “It’s going to be a fascinating group because they have different points of view,” Schumer said in an interview with The Associated Press ahead of the forum. Many members of Congress agree that legislation will probably be needed in response to the quick escalation of artificial intelligence tools in government, business and daily life. In the United States, most major tech companies have expressed support for AI regulations, though they don’t necessarily agree on what that means. Blumenthal’s framework calls for a new “licensing regime” that would require tech companies to seek licenses for high-risk AI systems.

Persons: Chuck Schumer, Meta’s Mark Zuckerberg, Elon Musk, Bill Gates, Schumer, Republican Sen, Mike Rounds, “ It’s, ” Schumer, ” Rounds, “, ”, Mark Warner, Democratic Sen, Martin Heinrich of, Todd Young, Indiana —, Sam Altman, Forrester, Sen, Young, ” Young, “ We’ve, Dana Rao, We’ve, Richard Blumenthal, Conn, Josh Hawley, ” Blumenthal, ___ O'Brien, Ali Swenson, Kelvin Chan Organizations: WASHINGTON, Capitol, Microsoft, Republican, Associated Press, AP, Democratic, European Union, Adobe Locations: South Dakota, Martin Heinrich of New Mexico, Indiana, U.S, United States, Europe, Josh Hawley of Missouri, Providence , Rhode Island, New York, London

Canada created 39,900 jobs, Statistics Canada said, compared with a median forecast for a gain of 15,000. The labor market has been resilient even as the Bank of Canada (BoC) raised its key overnight rate 10 times since March 2022 to cool the economy. Money markets see a 44% chance of another BoC rate hike by year-end, up from 36% before the data were published. "This report alone won't make the Bank of Canada regret holding rates steady earlier this week. Derek Holt, vice president of capital markets economics at Scotiabank, noted a gain of 49,500 people in self-employed jobs.

Persons: Carlos Osorio, Andrew Kelvin, Royce Mendes, Derek Holt, Dale Smith, Fergal Smith, Andrea Ricci, Nick Macfie Organizations: Queen, West, REUTERS, Rights, Statistics, Bank of Canada, BoC, TD Securities, Desjardins Group, Canadian, Scotiabank, Thomson Locations: Toronto Ontario, Canada, Statistics Canada, Canadian, Ottawa, Toronto

Bank of Canada Governor Tiff Macklem takes part in a news conference after announcing an interest rate decision in Ottawa, Ontario, Canada April 12, 2023. The central bank hiked rates by a quarter point in both June and July in a bid to tame stubbornly high inflation, which has remained above the bank's 2% target for 27 months. Bank of Canada Governor Tiff Macklem will deliver a speech and hold a press conference to discuss the decision on Thursday. Reuters GraphicsLiberal Prime Minister Justin Trudeau's support has sagged amid high inflation as his Conservative rival, Pierre Poilievre, hammered him for fueling inflation with government spending and driving up rates during a housing crisis. "The Bank of Canada's decision to maintain its overnight interest rate is welcome relief for Canadians," Finance Minister Chrystia Freeland said in a statement.

Persons: Blair Gable, Doug Porter, Andrew Kelvin, Justin Trudeau's, Pierre Poilievre, Chrystia Freeland, Steve Scherer, David Ljunggren, Fergal Smith, Ismail Shakil, Divya Rajagopal, Nivedita Balu, Mark Porter Organizations: Canada, REUTERS, Rights, Bank of Canada, Wednesday, Governing, BoC, BMO Capital Markets, Canadian, Reuters, TD Securities, Reuters Graphics Liberal, Conservative, Finance, Thomson Locations: Ottawa , Ontario, Canada

The second-quarter reading was far lower than the Bank of Canada's (BoC's) forecast for a 1.5% annualized GDP growth as well as the 1.2% gain expected by analysts. The quarterly slowdown was largely due to declines in housing investment and smaller inventory accumulation as well as slower international exports and household spending, Statistics Canada said. The central bank hiked its benchmark overnight rate to a 22-year-high of 5.0% in July, the tenth increase since March of last year. The high interest rate environment has coincided with falling housing investment, which recorded its fifth consecutive quarterly decrease in the three months ended in June. The housing investment decline was led by a sharp drop in new construction as well as a fall in renovation activities, Statscan said.

Persons: Stephen Brown, Andrew Kelvin, Statscan, downwardly, Doug Porter, Ismail Shakil, Steve Scherer, Dale Smith, Fergal Smith, Nivedita Balu, Mark Porter Organizations: Bank of Canada's, North, Capital Economics, Bank of Canada, Statistics, BoC, Reuters, TD Securities, Money, Canadian, BMO Capital Markets, Thomson Locations: OTTAWA, North American, Statistics Canada, Canada

☆ H.B.O. Is Tackling Religion in the Most Remarkable Ways
▼ + stars: | 2023-08-30 | by ( Elizabeth Nelson | ) www.nytimes.com time to read: +5 min

Television’s depictions of religion have often leaned either toward po-faced dogma or scouring atheism, but here is one that dares to split the difference. The eldest, Jesse, is a pompous hothead whose default response to any insult is light violence and who, despite his persona as a family man, has enjoyed the sort of hard-partying lifestyle that would make early-1970s Led Zeppelin blush. His sister, Judy, is a flamethrowing libertine with a staggeringly foul mouth and a tendency to transgress against her lovingly milquetoast husband. Like a staging of “King Lear” at a monster-truck rally, the show has a loneliness that undergirds its berserk energy. This is not the only fascinating vision of the church on HBO these days.

Persons: they’ve, McBride, Jesse, Judy, “ King Lear ”, John Goodman, Eli Gemstone —, Aimee, Leigh, Croesus, ”, Gideon, —, Bridget Everett, Sam, Joel, Sam —, Maria ” Organizations: ”, Southern, Gemstone Salvation, HBO, Hollywood Locations: American, Hollywood, Kansas, America

☆ Gold gains as U.S. dollar, yields lose steam ahead of data
▼ + stars: | 2023-08-29 | by ( ) www.cnbc.com time to read: +2 min

Gold prices gained on Tuesday as a recent rally in the U.S. dollar and Treasury yields showed signs of fatigue ahead of crucial inflation and jobs data this week that could define the outlook for interest rates. Gold prices are seeing short-covering by speculators as a minor key resistance at $1,907 that coincided with the 200-day moving average has been surpassed, said Kelvin Wong, a senior market analyst, Asia Pacific, OANDA. Helping gold further, the dollar dipped against a basket of major currencies, while benchmark U.S. 10-year Treasury yields moved further away from their highest levels since 2007 hit last week. A weaker dollar tends to make gold, which yields no interest, less expensive for other currency holders. With elevated rates, consumer spending is likely to slow and a recession becomes almost inevitable, which would result in falling bond yields and a weaker dollar, and gold prices could rebound, Heraeus analysts wrote in a note.

Persons: Kelvin Wong, Jerome Powell's, Wong Organizations: Heraeus, Solar, U.S ., Treasury, Federal, Trust, Palladium Locations: Budapest, Hungary, ., Asia Pacific

"We are seeing evidence of slowing labor markets as evidenced by slowing wage growth, lower job postings and an increase in Canadian unemployment. The country's second-largest bank Toronto-Dominion Bank (TD.TO), however, missed analysts' estimates for quarterly profit, which was hurt by higher expenses, rainy day funds to cover for unpaid loans and weakness in its U.S. business. RBC reported adjusted earnings of C$2.84 per share, beating analysts' estimates of C$2.71 per share, according to Refinitiv data. The bank's earnings were also impacted by a C$306 million payment related to the termination of its First Horizon acquisition. RBC and TD together account for half of the market share among the big six Canadian banks with a market capitalization of C$168 billion and C$151 billion respectively.

Persons: Dave McKay, McKay, May, John Aiken, Kelvin Tran, TD, Nivedita Balu, Manya Saini, Sri Hari, Pritam Biswas, Shilpi Majumdar, Mark Potter, Sharon Singleton Organizations: Royal Bank of Canada, RBC, Barclays, Dominion Bank, Bank of Canada, Thomson Locations: China, Toronto, Canada, Bengaluru

The country's second-largest bank Toronto-Dominion Bank (TD.TO), however, missed Bay Street estimates for quarterly profit hurt by higher expenses and rainy day funds to cover for unpaid loans. The bank's earnings were also impacted by a C$306 million charge related to the termination of its First Horizon acquisition. "The higher interest rate would put pressure on the consumer. The banks set aside more money for bad loans compared to the prior quarter as consumers struggle to make payments amid high costs of living. RBC set aside C$616 million for credit losses, up from C$340 million a year ago, and TD set aside C$766 million, a jump from C$351 million.

Persons: Mark Blinch, Dave McKay, John Aiken, Kelvin Tran, Nivedita Balu, Sri Hari, Pritam Biswas, Shilpi Majumdar, Mark Potter Organizations: Royal Bank of Canada, REUTERS, RBC, Barclays, Dominion Bank, The Bank of Canada, Thomson Locations: Toronto, Canada, Sri, Bengaluru

☆ Gold loiters near 5-month low as traders hunt for more Fed cues
▼ + stars: | 2023-08-21 | by ( ) www.cnbc.com time to read: +2 min

A staff member selects a gold bracelet for a customer at a gold shop in Renhuai, Southwest China's Guizhou province, May 11, 2023. Gold held around five-month lows on Monday, pressured by higher bond yields as markets geared up for the Federal Reserve's Jackson Hole symposium for clues on where interest rates might settle. Spot gold was largely flat at $1,887.70 per ounce, while U.S. gold futures added 0.1% to $1,917.70. Gold grazed its lowest since mid-March at $1,883.70 last week, as buoyant economic data raised bets for higher-for-longer U.S. interest rates, reducing demand for the non-yielding commodity. Investors now look to Fed Chair Jerome Powell's speech on Friday, as central bankers from around the world assemble in Jackson Hole for their annual conference.

Persons: Gold, Jackson, Ole Hansen, Saxo, Jerome Powell's, Kelvin Wong Organizations: Federal, Treasury, U.S . Federal Reserve, Trust Locations: Renhuai, Southwest China's Guizhou province, U.S, Jackson, Asia Pacific

☆ Hull, Vu share third round lead at Women's British Open
▼ + stars: | 2023-08-12 | by ( ) www.reuters.com time to read: +2 min

[1/2] Jul 9, 2023; Pebble Beach, California, USA; Charley Hull walks off the green of the second hole after an eagle putt during the final round of the U.S. Women's Open golf tournament at Pebble Beach Golf Links. Mandatory Credit: Kelvin Kuo-USA TODAY Sports/File photoAug 12 (Reuters) - Charley Hull of England and American Lilia Vu shared the lead at nine under par following a windy third round of the Women's British Open at the Walton Heath Golf Club in Surrey, England on Saturday. Hull finished strong with three birdies on her last four holes for 68, raising hopes of a first home winner since Georgia Hall's victory in 2018, while Vu carded seven birdies and two bogeys for 67. Angel Yin and Kim Hyo-joo were one shot back, while American Ally Ewing was two shots off the pace on seven under par going into Sunday's final round. Frenchwoman Celine Boutier, aiming for a third consecutive win following her triumphs at the Women's Scottish Open and Evian Championship, finished at three-over after a 74.

Persons: Charley Hull, Kelvin Kuo, Charley Hull of, American Lilia Vu, Vu, Hull, Angel Yin, Kim Hyo, Ally Ewing, Ewing, Nelly Korda, Korda, Celine Boutier, Aadi Nair Organizations: Women's, USA, Walton Heath Golf Club, Hull, Georgia, Sky Sports, Scottish, Evian Championship, Thomson Locations: Beach , California, USA, Charley Hull of England, American, Surrey, England, Georgia, Bengaluru

☆ Married During the 2003 Blackout
▼ + stars: | 2023-08-12 | by ( Sadiba Hasan | ) www.nytimes.com time to read: +1 min

It was shortly after 4 p.m. on a sweltering, sunny Thursday — Aug. 14, 2003 — when the power went out in eight states across the Northeast and Midwest. Sara Hasson was in her bridal suite at a Hyatt hotel in Greenwich, Conn., getting her hair blown out. Dustin Schell was celebrating at a bar after witnessing his friends’ ceremony at City Hall in Manhattan. Dr. Kelvin Chan was running last-minute errands in preparation for his wedding in Toronto the next day. And Dr. Dvasha Stollman was in the middle of putting on her poofy, tulle-layered white gown in New Rochelle, N.Y.“I had no idea what was going on,” Dr. Stollman said.

Persons: Sara Hasson, Dustin Schell, Kelvin Chan, Dvasha Stollman, “, Stollman, ”, Stollman’s Organizations: City Hall Locations: Midwest, Greenwich, Conn, Manhattan, Toronto, New Rochelle, N.Y, Canada

☆ Potential Japanification of China? UBS says the situation is 'completely different'
▼ + stars: | 2023-08-10 | 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 EmailPotential Japanification of China? UBS says the situation is 'completely different'Kelvin Tay of UBS Global Wealth Management says China's economy still has huge growth potential over the long run, but the current weakness in the economy means big stimulus is needed and what Beijing has done so far isn't enough.

Persons: Kelvin Tay Organizations: UBS, UBS Global Wealth Management Locations: China, Beijing

☆ Gold set for worst week in six as U.S. yields surge before jobs data
▼ + stars: | 2023-08-04 | by ( ) www.cnbc.com time to read: +2 min

Gold prices looked set to post their worst week in six on Friday as investors braced for a closely watched U.S. jobs report after a string of solid economic data this week drove Treasury yields to nine-month highs. Spot gold was little changed at $1,935.07 per ounce by 0412 GMT, while U.S. gold futures rose 0.1% to $1,970.30. Gold prices have declined more than 1% so far this week, having slipped to their lowest level since July 11 in the last session. U.S. long-term Treasury yields climbed to their highest since November on Thursday after employment and other economic data pointed to easing inflation. Non-farm payrolls, or NFP, data due at 1230 GMT will be the next focus for further clues about the U.S. economy's strength.

Persons: Tim Waterer, it's, Kelvin Wong Organizations: Aurum, KCM, of England, European Central Bank Locations: Asia Pacific

☆ Superconductor claims spark investor frenzy, but scientists are skeptical
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +7 min

The South Korean researchers last week said they found a superconductor that works at room temperature, which has long been considered a holy grail for scientists in the field. The South Korean researchers published two papers - one initial paper with three authors and a second, more detailed paper with six authors that included only two of the authors from the first paper. The gold standard for proof of discovery is other labs reliably replicating the South Korean researchers' findings. But another team, from Qufu Normal University, said they did not observe zero resistance, one of required characteristics of a superconductor. On Thursday, South Korean experts said they would set up a committee to verify the claims.

Persons: Read, Kelvin, Eric Toone, Bill Gates, Mike Norman, Norman, Sinéad Griffin, Lawrence, Griffin, apatite, Michael Fuhrer, Fuhrer, Argonne's Norman, Stephen Nellis, Joyce Lee, Brenda Goh, Krystal Hu, Kenneth Li, Deepa Babington Organizations: CEA, Nuclear Research, South, Reuters, South Korean, Huazhong University of Science, Technology, Qufu Normal University, Southeast University, Bill Gates ’, Energy Ventures, National Laboratory, Lawrence Berkeley National Laboratory, . Department of Energy, Monash University, Thomson Locations: ., China, South Korea, Nanjing, Melbourne, Australia, San Francisco, Seoul, Shanghai, New York

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