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Nicholas Frappell - 7 Tim Waterer - 2 Jerome Powell - 2 Gold - 1 Edward Meir - 1 Kamala Harris - 1 Donald Trump - 1 nonfarm - 1
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Search resuls for: "ABC Refinery"


13 mentions found


☆ Gold little changed ahead of U.S. payrolls data
  + stars: | 2024-11-01 | by ( ) www.cnbc.com   time to read: +2 min
Twenty kilogram gold and silver bricks sit at the ABC Refinery smelter in Sydney, New South Wales, Australia, on Thursday, July 2, 2020. Gold traded little changed on Friday as investors refrained from taking big positions ahead of the U.S. payrolls data that could provide further clues about the Federal Reserve's interest rate outlook. Spot gold was flat at $2,746.09 per ounce, as of 0235 GMT. Gold prices gained more than 4% in October amid safe-haven flows spurred by the Middle East tensions and U.S. election uncertainty. Zero-yield gold thrives in a low interest rate environment.
Persons: Gold, Edward Meir, Kamala Harris, Donald Trump, nonfarm, Meir Organizations: ABC Refinery, Democratic, Republican, Reuters, Traders Locations: Sydney , New South Wales, Australia
☆ Gold lingers near record highs, Powell's speech eyed for rate cues
  + stars: | 2024-09-26 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices were steady on Thursday, hovering close to record highs, on expectations of another big U.S. rate cut this year, although gains were limited ahead of remarks by key Federal Reserve policymakers later in the day. Gold prices were steady on Thursday, hovering close to record highs, on expectations of another big U.S. rate cut this year, although gains were limited ahead of remarks by key Federal Reserve policymakers later in the day. Bullion has risen nearly 29% so far in 2024 and hit record highs several times this year, largely fueled by monetary policy easing by major global banks and geopolitical concerns. Last Wednesday, the Fed delivered a 50-basis-point rate cut, with traders seeing a 62% chance of an additional half-percentage-point reduction in November, according to the CME FedWatch Tool. Additionally, U.S. jobless claims data on Thursday and the core personal consumption expenditure index — the Fed's preferred inflation — on Friday, will be eyed for further rate cues.
Persons: Tim Waterer, Bullion, Jerome Powell, John Williams, Michael Barr, Nicholas Frappell Organizations: U.S ., KCM, Fed, New York Fed, ABC Refinery Locations: .
☆ Gold hovers near record high ahead of Fed rate verdict
  + stars: | 2024-09-17 | 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 hovered near a record high on Tuesday, ahead of the anticipated start of the U.S. interest rate reduction cycle, which could see policymakers deliver an outsized cut. Spot gold was steady at $2,581.68 per ounce as of 0254 GMT. Bullion rose to a record high of $2,589.59 on Monday. Goldman Sachs reiterated its optimistic outlook on gold prices. "We find that ETF holdings backed by physical gold continue to rise gradually as the Fed policy rate comes down," it said in a note on Monday.
Persons: Yeap Jun Rong, there's, Nicholas Frappell, Goldman Sachs Organizations: U.S, U.S . Federal, ABC Refinery, Palladium Locations: Singapore, ., U.S .
☆ Gold listless as investors await U.S. data for Fed policy guidance
  + stars: | 2023-09-12 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices settled into a holding pattern on Tuesday as investors awaited U.S. inflation figures that could provide an updated view on interest rates after the Federal Reserve kept the door open for further policy tightening. Spot gold was flat at $1,921.25 per ounce, as of 0510 GMT, while U.S. gold futures eased 0.2% to $1,944.30. Demand for non-interest-bearing gold could take a hit if the Fed further raises U.S. interest rates to quell inflation. Although, a sustained push higher in gold prices likely needs to be catalyzed by an eventual turn towards a Fed cutting cycle, they added. Elsewhere, spot silver rose 0.2% to $23.12 per ounce, platinum climbed 0.2% to $899.90 per ounce and palladium added 0.2% to $1,220.64 per ounce.
Persons: Nicholas Frappell, J.P, Morgan Organizations: Federal Reserve, U.S . Consumer, Fed, ABC Refinery, New York Fed, U.S Locations: U.S
☆ Gold subdued on dollar strength as markets await economic data
  + stars: | 2023-08-01 | by ( ) www.cnbc.com   time to read: +2 min
A technician cleans impurities from melted gold bars at Primera Gold's laboratory in Bukavu, South Kivu Province, eastern Democratic Republic of Congo, May 12, 2023. Gold prices edged lower on Tuesday as the U.S. dollar climbed, while investors looked forward to key economic data this week for signs on how long the interest rates could keep rising to quell sticky inflation. Spot gold was down 0.1% at $1,961.49 per ounce by 0343 GMT, while U.S. gold futures dropped 0.5% to $1,961.10 per ounce. Gold prices ended July 2.3% higher, the biggest monthly rise in four months on expectations that an end to the rate-hiking cycle by global central banks was nearing. This is why the central banks are sticking with the data-dependent mantra," said Tim Waterer, chief market analyst at KCM Trade.
Persons: Jerome Powell, Nicholas Frappell, Austan Goolsbee, Tim Waterer, Waterer Organizations: Primera Gold's, U.S, ABC Refinery, Chicago Federal, KCM Trade Locations: Bukavu, South Kivu Province, Democratic Republic of Congo, Chicago
☆ Gold flat on doubts over U.S. rate hike trajectory
  + stars: | 2023-07-10 | 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 were little changed on Monday after U.S. jobs data last week cast doubts over the labor market's strength, prompting investors to be more skeptical of the Federal Reserve's rate hike trajectory. Spot gold was steady at $1,923.62 per ounce by 0347 GMT. Data on Friday showed COMEX gold speculators raised their net long position by 12,733 contracts to 99,205 in the week ended July 3. In other precious metals, spot silver was steady at $23.05 per ounce, platinum fell 0.1% to $907.34 and palladium eased 0.4% to $1,238.86.
Persons: Nicholas Frappell Organizations: Aurum, Labor, ABC Refinery, U.S, West, Trust Locations: Munich, U.S, U.S . Federal, Russia
☆ Gold listless as investors wait for Fed's June meeting minutes
  + stars: | 2023-07-04 | by ( ) www.cnbc.com   time to read: +2 min
Bars of gold are seen at Krastsvetmet, one of the world's largest producers of precious metals, in Moscow, January 31, 2023. Spot gold was little changed at $1,921.39 per ounce by 0241 GMT, while U.S. gold futures were flat at $1,929.10. High interest rates discourage investment in non-yielding gold. Markets will also watch for minutes of the June 13 to14 FOMC meeting being released on Wednesday. While gold prices could recover to $1,940 before a potential drop lower, "the rates background remains a significant drag," Frappell added.
Persons: Nicholas Frappell, Frappell, Masato Kanda Organizations: U.S, ABC Refinery, Investors, Reserve Bank of Locations: Moscow, U.S, U.S . Federal
☆ Gold rises as dollar weakens ahead of Fed decision
  + stars: | 2023-06-14 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices edged higher on Wednesday, helped by a softer dollar as slowing U.S. inflation cemented bets that the Federal Reserve would keep interest rates unchanged later in the day. Spot gold rose 0.3% to $1,948.49 per ounce by 05:00 GMT. Markets are pricing in a roughly 90% chance of the Fed keeping rates unchanged, according to CME's Fedwatch tool. While gold is seen as a hedge against inflation, higher rates to tame price pressures generally weigh on the non-yielding asset's appeal. Spot silver climbed 0.7% to $23.8439 per ounce, platinum rose 0.3% to $979.37, while palladium was flat at $1,361.01.
Persons: Clifford Bennett, " Bennett, Nicholas Frappell Organizations: Federal Reserve, U.S, ACY Securities, Fed, ABC Refinery Locations: Siberian, Krasnoyarsk, Russia, U.S
☆ 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 listless as U.S. debt talks dominate market mood
  + stars: | 2023-05-18 | 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. Gold prices were little changed on Thursday as the dollar held firm and optimism over U.S. debt-ceiling talks chipped away at the metal's safe-haven appeal. The dollar index traded near a seven-week high reached in the previous session, making gold less affordable for overseas investors. U.S. President Joe Biden and top congressional Republican Kevin McCarthy on Wednesday underscored their determination to reach a deal soon to raise the federal government's $31.4 trillion debt ceiling and avoid an economically catastrophic default. The decline in silver so far this month "could be closer to some tentative stabilization," Wong added.
☆ Gold listless as investors strap in for Fed rate
  + stars: | 2023-03-22 | 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. Gold prices traded in a narrow range on Wednesday as some investors stayed on the sidelines ahead of the U.S. Federal Reserve's interest rate decision and policy outlook. Spot gold was flat at $1,939.59 per ounce, as of 0318 GMT, after dropping 2% on Tuesday. Investor attention is now on the Fed's decision scheduled at 1800 GMT, followed by a press conference by Fed Chair Jerome Powell. "If we do get higher dots plot, then that represents a still-hawkish Fed that is determined to fight inflation ... a potential hawkish repricing could undermine gold prices."
☆ Gold rebounds but holds below $1,900/oz level on Fed fears, firm dollar
  + stars: | 2023-02-06 | by ( ) www.cnbc.com   time to read: +2 min
Twenty kilogram gold and silver bricks sit at the ABC Refinery smelter in Sydney, New South Wales, Australia, on Thursday, July 2, 2020. Gold prices regained some ground on Monday but a firmer dollar and concerns that the U.S. Federal Reserve might keep hiking interest rates kept bullion below the key $1,900-an-ounce level. Spot gold was up 0.4% at $1,872.96 per ounce, as of 0257 GMT, after hitting its lowest level since Jan. 6 earlier in the session. Those bets helped the dollar index rise 0.2%, adding pressure on gold by raising its cost for buyers holding other currencies. Spot silver edged up 0.2% to $22.39 per ounce, platinum was little changed at $973.88 and palladium added 0.2% to $1,626.38.
☆ Gold steadies after steep sell-off, but bound for weekly drop
  + stars: | 2023-02-03 | 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. Gold prices steadied on Friday after a sharp sell-off in the previous session, as traders digested rate-hike remarks from global central banks, but the metal was set for its first weekly drop in seven amid a strong dollar. Therefore, it may trigger some near-term profit-taking, "but for gold prices, a greater conviction for sellers could be a break below the $1,895 level, where dip-buyers were seen stepping in this week just before the meeting," the analyst added. Gold prices have gained about $300 since November on expectations of softer rate hikes from the U.S. central bank, as a lower interest rate environment reduces the opportunity cost of holding non-yielding bullion. The U.S. dollar, meanwhile, was up 0.1%, keeping a leash on gold prices.
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