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☆ 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 climbs as traders brace for U.S. inflation data
▼ + stars: | 2024-07-11 | by ( ) www.cnbc.com time to read: +2 min

Gold prices firmed for a third consecutive session on Thursday, with investors awaiting U.S. inflation data due later in the day for more insights on the Federal Reserve's interest rate path. Gold prices firmed for a third consecutive session on Thursday, with investors awaiting U.S. inflation data due later in the day for more insights on the Federal Reserve's interest rate path. Any downside surprise in the CPI report could weaken the dollar and push up gold prices to the $2,400 level, said Marex analyst Edward Meir. Fed Chair Jerome Powell said on Wednesday that the U.S. central bank would make interest rate decisions "when and as" they were needed. Spot silver climbed 0.7% to $31.04 per ounce, platinum firmed 0.4% to $993.25 and palladium gained 0.7% to $992.90.

Persons: Edward Meir ., Lisa Cook, Meir, Jerome Powell, Wang Tao Organizations: Index, Traders Locations: U.S

☆ Here's what's driving the price of copper and other metals higher
▼ + stars: | 2024-05-22 | 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 EmailHere's what's driving the price of copper and other metals higherEdward Meir, Marex senior base metals analyst, joins 'Squawk Box' to discuss the recent moves in copper, if the market seems vulnerable at current levels, and more.

Persons: Edward Meir, Marex

☆ Here are Monday's biggest analyst calls: Nvidia, Amazon, Apple, Tesla, Dell, Micron & more
▼ + stars: | 2024-05-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Monday's biggest calls on Wall Street: Melius reiterates Apple as buy Melius said it sees several positive catalysts ahead for Apple. Bernstein reiterates Dell as outperform Bernstein raised its price target on the stock to $155 per share from $120. Goldman Sachs reiterates Amazon as buy Goldman said it's standing by its top pick status on shares of Amazon. " Barclays reiterates Nvidia as overweight Barclays raised its price target on Nvidia to $1,100 from $850. Morgan Stanley upgrades Micron to equal weight from underweight Morgan Stanley raised its price target on Micron to $130 per share from $98.

Persons: Melius, Bernstein, Dell, Stifel, Baird, Goldman Sachs, Goldman, –, Huntington Ingalls, it's, it's bullish, Redburn, Tesla, Morgan Stanley, Salesforce, Jefferies, Evercore, TJX Organizations: Apple, Developers, Citi, RIO, Nvidia, Barclays, Robotics, Group, Marex Group, Micron, Hasbro, U.S . Steel, UBS, Universal Health Services, JPMorgan, TJX Companies, SSS, Seaport, FedEx, US Locations: Tinto, America, Cleveland, China

☆ Buy this little-known brokerage that's poised to rally more than 70%, Goldman Sachs says
▼ + stars: | 2024-05-20 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Financial services company Marex Group could see more than 70% from here, due to its momentous growth rate, according to Goldman Sachs. The firm initiated coverage of London-based Marex Group, a global broker-dealer and commodities market maker, on Monday with a buy rating and a $33 per share price target. About half the growth came from acquisitions, while the rest came from organic growth and share gains, according to Goldman analyst Alexander Blostein. Catalysts behind this growth include strong industry volumes and tailwinds for the Futures Commission Merchants market. Marex Group debuted on the Nasdaq in late April, priced initially at $19 a share.

Persons: Goldman Sachs, Goldman, Alexander Blostein, Blostein, MRX, ROE Organizations: Marex, Futures Commission Merchants, Nasdaq, Futures Commission Locations: London, Europe

☆ Gold subdued as traders ready for Fed rate verdict
▼ + stars: | 2024-05-01 | by ( ) www.cnbc.com time to read: +1 min

Gold prices struggled for momentum on Wednesday as investors refrained from taking big positions ahead of a U.S. Federal Reserve policy decision that could offer for more cues on its rate-cut timeline. U.S. gold futures were down 0.2% at $2,298.30 per ounce. The Fed is expected to hold its benchmark interest rate steady at 5.25% to 5.5%. Gold is known as an inflation hedge but elevated interest rates reduce the appeal of holding the non-yielding asset. Among other metals, spot silver rose 0.2% to $26.32 per ounce and platinum inched up 0.2% to $935.10.

Persons: Edward Meir, Jerome Powell, Powell, Meir Organizations: U.S, Federal, Focus, Labor, Palladium

☆ The IPO reopening is real. Just look at Rubrik, the first unicorn to go public in months
▼ + stars: | 2024-04-25 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Last night data security firm Rubrik priced 23.5 million shares at $32, above the price talk of 23 million shares at $28-$31, raising $752 million. Rubrik is the first tech unicorn IPO since last fall. Marex Group, a UK-based financial services company known for its global clearing business, priced 15.4 million shares at $19, the midpoint of the price talk of $18-$21, raising $292 million. Loar Holdings, which makes aerospace and defense components, priced 11 million shares at $28, above the range of $24-$26, raising $308 million. All eyes on Rubrik Rubrik is an important test of the tech IPO market.

Persons: Matt Kennedy, Rubrik, Kennedy, Ingram, Del Organizations: Marex, Nasdaq, Loar Holdings, New York Stock Exchange, Viking Holdings, Arm Holdings, Renaissance Capital, UL, Astera Labs, Forge, Companies, Ingram Micro, Epic Locations: Del Monte

☆ IPO market continues to open up, market downdraft be damned, but higher rates loom
▼ + stars: | 2024-04-18 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

For proof that the market for initial public offerings continues to open up despite the downdraft in the market, just look at this week. This spring reopening, however, is threatened by the specter of higher interest rates. Why higher interest rates hurt IPOs The major headwind: higher for longer interest rates. technology) are more sensitive to a change in interest rates, because their cash flow projections are further out. Still, most admit higher rates make it more difficult to get investors excited about IPOs.

Persons: Ibotta, Rubrik, Matt Kennedy, IPOs, That's, Kennedy, Santosh Rao Organizations: Centuri Holdings, Southwest Gas Holdings, UL Solutions, Group, Renaissance Capital, Loar Holdings, Manhattan Venture Partners

☆ Gold smashes record again as U.S. inflation worries loom
▼ + stars: | 2024-04-03 | by ( ) www.cnbc.com time to read: +2 min

Gold prices extended a record run on Wednesday as concerns of rising inflation boosted demand for gold as a hedge, with bullion traders shrugging off doubts over an imminent U.S. interest rate cut and rising Treasury yields. Gold prices extended a record run on Wednesday as concerns of rising inflation boosted demand for gold as a hedge, with bullion traders shrugging off doubts over an imminent U.S. interest rate cut and rising Treasury yields. Spot gold was up 0.3% at $2,286.24 per ounce, as of 0406 GMT, and hit a record high of $2,288.09 earlier in the session. Data this week showed U.S. manufacturing unexpectedly rebounded, with the rise in raw materials prices triggering fears that inflation could resurge. "With commodity prices rising in general, it brings the risks of another round of inflation - so perhaps investors are hedging for inflation," Simpson said.

Persons: Bullion, Matt Simpson, Simpson, Edward Meir said Organizations: Index, Federal Locations: U.S, Ukraine, Asia

☆ Gold near two-month peak as anticipation builds for June U.S. rate cut
▼ + stars: | 2024-03-04 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices lingered close to a two-month high on Monday, after softer U.S. economic readings last week cemented prospects of an interest rate cut in June by the Federal Reserve. U.S. gold futures fell 0.3% to $2,090.00. Traders have raised their hopes for a June rate cut, and are now seeing a 74% chance, compared with about 65% chance last Monday, according to LSEG's interest rate probability app. Lower interest rates boost the appeal of non-yielding bullion.

Persons: Edward Meir, Meir Organizations: Co, Federal Reserve, U.S, Traders Locations: Bangkok, Thailand, U.S, South Africa

☆ Gold set for weekly gain as weak dollar, Middle East woes lift appeal
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: +2 min

Gold prices inched higher on Friday and were on track for their first weekly rise in three, as a broadly weaker U.S. dollar and growing tensions in the Middle East lifted bullion's appeal. Gold prices inched higher on Friday and were on track for their first weekly rise in three, as a broadly weaker U.S. dollar and growing tensions in the Middle East lifted bullion's appeal. Spot gold was up 0.1% at $2,025.7 per ounce, as of 0411 GMT, and has gained 0.7% so far in the week. Tension mounted in the Middle East as Yemen's Iran-aligned Houthis claimed responsibility for an attack on a UK-owned cargo ship, and they targeted Israel's port and resort city of Eilat with ballistic missiles and drones. Meanwhile, the dollar index was heading for its first weekly dip in nearly two months, making the greenback-priced bullion less expensive to overseas buyers.

Persons: Edward Meir, Houthis, Christopher Waller Organizations: Federal Reserve, CME Locations: Iran, Eilat

☆ Gold rises on dollar weakness as focus turns to Fed minutes
▼ + stars: | 2023-11-21 | by ( Brijesh Patel | ) www.reuters.com time to read: +2 min

The dollar languished near more than a 2-1/2-month low as investors expect U.S. interest rates to fall next year. A weaker dollar makes gold less expensive for other currency holders. Signs of slowing inflation in the United States has boosted expectations that the U.S. central bank was done raising interest rates. Lower interest rates decrease the opportunity cost of holding gold. Inflation is likely to remain "stubborn" and force the Fed to keep interest rates elevated for longer than investors anticipate, Richmond Fed president Thomas Barkin said.

Persons: Alexander Manzyuk, Edward Meir, CME's, Jerome Powell, It's, Meir, Thomas Barkin, Brijesh Patel, Sherry Jacob, Phillips Organizations: REUTERS, Treasury, Federal, Benchmark, Richmond Fed, Thomson Locations: Novosibirsk, Siberian, Russia, U.S, United States, Bengaluru

Down 45% so far this year, palladium is on course for its worst year of losses since 2008, when the financial crash hit demand. Top producer Russia's Nornickel expects the palladium market to swing to a surplus of 300,000 ounces in 2024 from a 200,000-ounce deficit in 2023 due to supplies, boosted by recycling, outpacing demand. Consultancy Metals Focus forecasts above-ground palladium stocks of about 11.64 million ounces in 2023, compared with 12.35 million in 2022 and 12.89 million in 2021 - meaning ample supplies. In March 2022, palladium was trading at more than double the price of platinum, prompting a switch by automakers. However, longer-term Metals Focus is quite bearish on palladium," said Nikos Kavalis, managing director at Metals Focus.

Persons: Alexander Manzyuk, hastening, Russia's Nornickel, John Meyer, Edward Meir, Nikos Kavalis, Brijesh Patel, Harshit Verma, Ashitha, Anjana Anil, Anushree Mukherjee, Abhijith, Arpan Varghese, Pratima Desai, Hugh Lawson Organizations: REUTERS, Russia, ICE, International Energy, Consultancy, Metals, Thomson Locations: Siberian, Krasnoyarsk, Russia, Ukraine, Bengaluru

☆ Poland, Hungary, Slovakia to introduce own bans on Ukraine grains
▼ + stars: | 2023-09-16 | by ( ) www.cnbc.com time to read: +2 min

Poland, Slovakia and Hungary announced their own restrictions on Ukrainian grain imports on Friday after the European Commission decided not to extend its ban on imports into Ukraine's five EU neighbors. The European Union in May stepped in to prevent individual countries imposing unilateral bans and imposed its own ban on imports into neighboring countries. Under the EU ban, Ukraine was allowed to export through those countries on condition the produce was sold elsewhere. The EU allowed that ban to expire on Friday after Ukraine pledged to take measures to tighten control of exports to neighboring countries. EU Trade Commissioner Valdis Dombrovskis said on Friday countries should refrain from unilateral measures against imports of Ukrainian grain, but Poland, Slovakia and Hungary immediately responded by reimposing their own restrictions on Ukrainian grain imports.

Persons: Valdis Dombrovskis, reimposing, Terry Reilly Organizations: European Commission, European Union, EU, Ukraine Locations: Kramatorsk, Donetsk region, Ukraine, Poland, Slovakia, Hungary, Black

But the flood of grains and oilseeds into neighbouring countries reduced prices there, impacting the income of local farmers and resulting in governments banning agricultural imports from Ukraine. The European Union in May stepped in to prevent individual countries imposing unilateral bans and imposed its own ban on imports into neighbouring countries. Under the EU ban, Ukraine was allowed to export through those countries on condition the produce was sold elsewhere. EU Trade Commissioner Valdis Dombrovskis said on Friday countries should refrain from unilateral measures against imports of Ukrainian grain, but Poland, Slovakia and Hungary immediately responded by reimposing their own restrictions on Ukrainian grain imports. Farmers in the five countries neighbouring Ukraine have repeatedly complained about a product glut hitting their domestic prices and pushing them towards bankruptcy.

Persons: Cernat, Valdis Dombrovskis, reimposing, Terry Reilly, Volodymyr Zelenskiy, Robert Telus, Julia Payne, Alan Charlish, Jan Lopatka, Karol Badohal, Boldizsar, Pavel Polityuk, Luiza Ilie, Tom Polansek, Nina Chestney, Simon Webb, David Evans, Alistair Bell, Grant McCool Organizations: REUTERS, European Commission, European Union, EU, Ukraine, Facebook, EU Commission, Farmers, Solidarity, Thomson Locations: Black, Constanta, Romania, Ukraine, BRUSSELS, WARSAW, Poland, Slovakia, Hungary, Russia, EU, Bulgaria, Russian, Romanian, Prague, Warsaw, Budapest, Kyiv, Bucharest, Chicago

☆ Gold off 3-week lows as investors brace for U.S. inflation data
▼ + stars: | 2023-08-07 | by ( ) www.cnbc.com time to read: +2 min

Gold prices dipped on Monday as the U.S. dollar climbed ahead of U.S. inflation data this week. Still, bullion was off three-week lows after slowing U.S. job growth knocked bond yields from their recent highs. Markets also took stock of labor department data showing solid wage gains and a decline in the unemployment rate that suggested continued tightness in labor market conditions. Data on U.S. consumer prices, due on Thursday, will be in focus to assess whether more rate hikes are needed to tame inflation. Non-yielding gold is often sought as a safe investment against inflation but tends to lose its sheen when rates rise.

Persons: Yeap Jun Rong, Edward Meir Organizations: U.S, Treasury, IG, Fed, U.S . Locations: Moscow, U.S

☆ Gold gets a safety boost as Fitch U.S. downgrade shakes markets
▼ + stars: | 2023-08-02 | by ( ) www.cnbc.com time to read: +2 min

Bars of gold are seen at the Krastsvetmet company, one of the world's largest producers of precious metals in Moscow, Russia on January 31, 2023. Spot gold was up 0.2% at $1,946.97 per ounce by 0312 GMT, while U.S. gold futures rose 0.3% to $1,984. Gold, which is priced in dollars, is a favored safe-haven investment in times of stress and economic uncertainty. Higher interest rates raise the cost of holding gold, which yields nothing and needs money to store and insure. In other metals, spot silver eased 0.2% to $24.29, platinum dropped 0.5% to $926.18, and palladium was down 0.1% at $1,238.59.

Persons: Gold, Fitch, Edward Meir Organizations: U.S ., United States, AAA, AA, Marex, U.S Locations: Moscow, Russia, U.S

☆ Gold set for weekly dip on prospects of more rate hikes
▼ + stars: | 2023-06-16 | by ( ) www.cnbc.com time to read: +2 min

A one kilo Swiss gold bar and US dollars gold coins are pictured in Paris on February 20, 2020. Gold prices eased on Friday and were headed for a slight weekly fall as traders weighed recent U.S. economic data and hawkish signals from the Federal Reserve on further monetary tightening. "Gold is struggling to move higher because the Fed's message on inflation and interest rates still remains hawkish. So, it's sort of removing the incentive to buy gold because there are more interest rate increases on the horizon," said Edward Meir, a metals analyst at Marex. While gold is considered a safe haven during economic uncertainties, higher interest rates dull the appeal for zero-yield bullion.

Persons: Edward Meir, Meir Organizations: Federal Reserve, Traders, The Bank of Japan Locations: Paris

☆ Gold set for biggest weekly gain since April on Fed pause hopes
▼ + stars: | 2023-06-02 | by ( ) www.cnbc.com time to read: +1 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 were set on Friday for their biggest weekly gain in nearly two months, as a softer dollar and hopes for a pause in the Federal Reserve's tightening campaign bolstered bullion's appeal. Bullion has gained 1.7% so far this week, heading for its best week since the week ended April 7. Gold, which does not yield any interest of its own, loses appeal when interest rates rise. A strong labor market print could see a bounce-back in the dollar, which would not help gold, Waterer added.

Persons: Bullion, Edward Meir, Patrick Harker, Joe Biden, Tim Waterer, Waterer Organizations: Aurum, Marex . Philadelphia Fed, U.S, U.S . Senate, U.S . Labor Department's, KCM

☆ 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 climbs on subdued dollar, U.S. data in spotlight
▼ + stars: | 2023-04-27 | by ( ) www.cnbc.com time to read: +2 min

Pure 1,000-gram gold bars produced by South Korea's LS-Nikko are stacked in a dealers room in Seoul on January 9, 2009. Gold prices rose on Thursday as a softer dollar rekindled some of bullion's appeal for overseas buyers, while investors braced for a host of U.S. economic data ahead of a crucial Federal Reserve policy meeting next week. Spot gold rose 0.48% to $1,999.01 per ounce by 448 GMT, while U.S. gold futures climbed 0.6% to $2,008.10. Safe-haven gold scaled an over one-year peak at $2,048.71 in mid-April, as the banking crisis unfolded and weak U.S. economic readings bolstered bets for a pause in interest rate hikes. Brian Lan, managing director at gold dealer GoldSilver Central in Singapore said, a lot is hinged on the Fed's interest rate decision in May, and gold could see more volatility due to the dollar.

☆ Gold rises on subdued dollar, US data in spotlight
▼ + stars: | 2023-04-27 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

Spot gold rose 0.4% to $1,996.50 per ounce by 0230 GMT, while U.S. gold futures climbed 0.5% to $2,005.20. Making bullion less expensive for other currencies holders, the dollar index eased 0.1% on the day. The U.S. House of Representatives on Wednesday narrowly passed a bill to raise the government's $31.4 trillion debt ceiling. Therefore, given the "uneasy tone with the banking situation" and the "debt ceiling uncertainties, gold will probably be more sensitive to the upside than to the downside," Meir said. Elsewhere, spot silver rose 0.5% to $25.02 per ounce, platinum added 0.3% to $1,092.68, and palladium ticked 0.1% up to $1,513.81.

☆ Copper Shortage Threatens Green Transition
▼ + stars: | 2023-04-18 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

In 2021, refined copper demand stood at 25.3 million tons, according to the International Copper Study Group. Mined output globally in 2022 was 21.8 million tons according to the International Copper Study Group, rising only 1 million tons over the previous three years. According to Congo’s Ministry of Mines, copper metal exports totaled 2.3 million metric tons in 2022, up from 1.8 million metric tons in 2021, less than half of Chile’s output. According to analysts it is more of a “when” not an “if” copper demand is likely to surge. Changes in technology should ease some copper demand pressures.

[1/2] A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike SegarApril 13 (Reuters) - JPMorgan Chase & Co (JPM.N) has dropped or cut credit lines to a large number of Indian metals clients, sending them looking for new brokers, the head of Nanhua Financial UK told Reuters. "Loads of Indian clients have enquired because JP Morgan cancelled their accounts," said Nong Yan, chief executive of Nanhua Financial UK, the British arm of one of the biggest future brokers in China. Broker Marex Financial has also been picking up new clients as JP Morgan and other banks reduce their exposure to metals and commodities, its chief executive said. "It's not just JP Morgan, all of these banks are sharpening their focus.

☆ Gold prices ease as traders gauge OPEC+ output cuts, weak U.S. data
▼ + stars: | 2023-04-04 | by ( ) www.cnbc.com time to read: +2 min

Oil prices steadied with investors' attention shifting to demand trends and the impact of higher prices on the global economy. Gold prices dropped on Monday after a surprise cut in OPEC+ crude production was announced over the weekend. Bullion is seen as a hedge against inflation, but higher rates increase the opportunity cost of holding the non-yielding asset. "If we are right, this should send the dollar lower and clear the 'runway' for an additional move higher." Spot silver slipped 0.5% to $23.88 per ounce, platinum eased 0.1% to $984.99 and palladium ticked 0.1% lower to $1,458.42.

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