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Top related persons:
Michael Langford - 2 Langford - 1 Christopher Waller - 1 Tim Waterer - 1
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U.S Bangkok Thailand Ukraine
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Scorpion Minerals Ltd - 2 Treasury - 2 Co - 1 Federal - 1 Traders - 1 U.S . - 1 Federal Reserve - 1 KCM - 1

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2 mentions found


☆ Gold subdued as U.S. inflation surprise casts doubt on mid-year rate cut
  + stars: | 2024-03-13 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices were flat on Wednesday, after falling the most in a month in the previous session, as sticky U.S. inflation raised concerns an interest rate cut by the Federal Reserve may be delayed beyond June. Gold's latest price drop comes as everything falls back to the inflation data, that feeds through into U.S. Fed's decision making, Michael Langford, chief investment officer at Scorpion Minerals Ltd said. Langford expects a healthy correction of up to about 10% in gold prices from here. Bullion fell 1.1% on Tuesday, after data showed U.S. consumer prices increased solidly in February, above forecasts and suggesting some stickiness in inflation. This was gold's worst single-day decline since Feb. 13, when data showed consumer prices also increased more than expected in January.
Persons: Michael Langford, Langford Organizations: Co, Federal, Scorpion Minerals Ltd, Traders, Treasury Locations: Bangkok, Thailand, U.S, Ukraine
☆ Gold extends slide as dollar firms on hawkish Fedspeak
  + stars: | 2024-01-17 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices extended losses on Wednesday as the U.S. dollar strengthened after hawkish comments from a Federal Reserve official dampened expectations for a March interest rate cut, while traders awaited comments from more Fed speakers this week. Spot gold was down 0.2% at $2,023.49 per ounce, as of 0415 GMT, after stooping 1.3% in the previous session - its biggest single-day decline since Dec. 4, 2023. Flow of funds to the U.S. dollar have been a key driver impacting the gold price, said Michael Langford, chief investment officer at Scorpion Minerals Ltd, forecasting bullion to trade around $2,000/Oz in the near term. With geopolitical tensions escalating, safe-haven flows could provide a floor for the gold price. However, "the short-term fate of the gold price is likely in the hands of the bond market," Tim Waterer, chief market analyst at KCM Trade, wrote in a note.
Persons: Michael Langford, Christopher Waller, Tim Waterer Organizations: U.S ., Federal Reserve, Scorpion Minerals Ltd, Treasury, KCM, U.S Locations: U.S
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