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Four big reasons to own gold into 2025
  + stars: | 2024-11-22 | by ( Sean Conlon | ) www.cnbc.com   time to read: +2 min
On Friday, spot gold rose about 1% amid increasing tensions between Russia and Ukraine . Secondly, the global interest rate-cutting cycle will also stretch into 2025, which will serve as another driver of higher gold prices. Moreover, a push among central banks to diversify their reserves away from the dollar could also provide some additional support for gold, he said. "We expect the de-dollarization trend among central banks and private asset managers to continue," Khandelwal said. "We estimate central banks bought around 900 metric tons of gold in 2024, and these volumes can be sustained well above the prior decade's average of around 325 metric tons a year."
Persons: Gold, Donald Trump's, Sagar Khandelwal, Khandelwal Organizations: UBS, UBS Global Wealth Management Locations: Russia, Ukraine
CNN —President-elect Donald Trump named billionaire Scott Bessent as his pick to serve as the next secretary of the Department of the Treasury. A key Cabinet player, the US Treasury secretary advises the president on economic and fiscal matters, including spending and taxes. Bessent would be the first out gay Treasury secretary, as well as the first LGBTQ Senate-confirmed Cabinet member in a Republican administration, according to The Associated Press. Compared to Lutnick’s more aggressive campaign for the role, Bessent led a more understated quest for the position. All of the names Trump put out Friday night had been decided by the afternoon, the sources said, but he wanted to name his Treasury secretary first before publicly releasing his other decisions.
Persons: Donald Trump, Scott Bessent, “ Scott, ” Trump, Scott, ” Bessent, Trump, George Soros, Bessent’s, Bessent, Pete Buttigieg, , Howard Lutnick –, Lutnick, Cantor Fitzgerald, fides, MAGA, Elon, Steven Mnuchin, Mnuchin, Kayla Tausche, Matt Egan Organizations: CNN, Department of, Treasury, of Innovation, Capital, U.S, Reserve, Square Capital Management, Soros Fund Management, Democratic, Senate, Republican, Associated Press, Biden, Wall Street, Trump, , Financial Times, CNBC, Soros, United, Republicans, Treasury Department Locations: United States, United States of America, China
While Wall Street is confident that there will be a continued boom under Trump, UBS GWM is less sure. "AI infrastructure spending remains robust, and we expect key semiconductor components needed for AI to remain supply constrained in 2025, supporting pricing," UBS GWM strategists wrote. "We believe investment-grade bonds offer attractive yields and expect mid-single-digit returns in US dollar terms," UBS GWM strategists wrote. "In 2025, we believe gold will remain an effective hedge against key political concerns, including government debt levels, inflation, or geopolitical tensions," UBS GWM strategists wrote. Residential and commercial properties both make sense, though UBS GWM specifically cited property types like logistics, data centers, and multifamily housing.
Persons: Donald Trump, Mark Haefele, UBS GWM, Haefele Organizations: UBS Global Wealth Management, UBS GWM, Trump, UBS, Technology, Utilities Locations: Japan
It may be a coincidence that the celebrity look-alike competition returned to prominence just as American citizens were voting in what some called “the most significant presidential election in our lifetimes.” But once it happened, the appeal was obvious. Here was a different kind of democratic event: a totally insignificant one, in which attractive men with slightly off-kilter features were lined up in public and ranked by the roaring crowd. At the first contest, which convened a flock of Timothée Chalamet doubles in Manhattan last month, the New York Police Department showed up, deemed it an “unscheduled demonstration” and arrested four people. They are typically publicized with posters on lampposts, staged in public parks and accompanied by meager prizes. The Mescal double won 20 euro “or three pints”; the White winner received $50 and a pack of Marlboro Reds.
Persons: Trump, doppelgängers, Jeremy Allen White, Paul Mescal, Dev Patel, Harry Styles Organizations: New York Police Department, Marlboro Reds Locations: Manhattan, Chicago, Dublin, San Francisco, London
Authorities in Norway have arrested a Norwegian man who worked as a security guard at the U.S. embassy in Oslo, accusing him of passing sensitive information to Russia and Iran. Under interrogation, the man, identified as Mohamed Orahhou, 27, admitted to collecting and sharing information with an officer from Russia’s domestic intelligence service, the S.V.R., as well as with unspecified Iranian officials, according to Norwegian authorities and Mr. Orahhou’s lawyer. The authorities have not released details about the type of information involved, but on Thursday a court in Oslo, citing the seriousness of the accusations, ordered Mr. Orahhou to be kept in custody for four weeks pending further investigation. “This is a very serious case,” Thomas Blom, an official from Norway’s Police Security Service, said in a text message to The New York Times. “We are at the very beginning of a rather extensive investigation.”
Persons: Mohamed Orahhou, Orahhou, ” Thomas Blom, Organizations: U.S, Norway’s Police Security Service, New York Times Locations: Norway, Norwegian, Oslo, Russia, Iran
AdvertisementSix tourists who died in Laos are believed to have consumed tainted drinks. Several tourists who died in Vang Vieng, Laos are believed to have drunk tainted alcohol. The Australian Broadcasting Corporation wrote that local authorities in Laos were investigating the case and trying to ascertain where the tainted alcohol came from. It is unclear how the other four tourists could have come into contact with tainted alcohol. November 22, 2.30 a.m. — This story was updated to include comments from the Australian Department of Foreign Affairs and Trade.
Persons: Brit, Holly Bowles, Anthony Albanese, Bowles, Bianca Jones, Simone White, Toan, Nana backpacker, Médecins, Vang Vieng Organizations: Brit, US State Department, Australian, Denmark's Ministry of Foreign Affairs, CNN, Australian Broadcasting Corporation, Associated Press, BBC, US Centers for Disease Control, British Foreign Office, Danish Ministry of Foreign Affairs, Business, Australian Department of Foreign Affairs, Trade Locations: Laos, Danes, Vang Vieng, Thailand, British, London, Asia, Indonesia, Singapore
New York CNN —The judge overseeing Donald Trump’s criminal hush money trial has adjourned his sentencing, which was set for next week. Judge Juan Merchan also agreed to hold off on issuing his decision on presidential immunity until after he reviews the parties’ filings. The judge did not set a new sentencing date or make any further statements about the delay. Trump’s lawyers have argued his conviction should be tossed both because of the presidential immunity decision and his return to the White House. His sentencing, originally scheduled for July, was delayed twice after the Supreme Court’s immunity decision prompted Trump’s lawyers to file a motion to vacate the conviction.
Persons: Donald, Judge Juan Merchan, Merchan, Trump’s, Steven Cheung, Trump, Attorney Alvin Bragg, Michael Cohen, Stormy Daniels, Shania Shelton Organizations: New, New York CNN, Attorney, Democrat Locations: New York, Georgia, York
Oil rises as intensifying Ukraine war increases supply risk
  + stars: | 2024-11-22 | by ( ) www.cnbc.com   time to read: +2 min
An aerial view of Phillips 66 oil refinery is seen in Linden, New Jersey, United States on March 8, 2022. Oil prices rose on Friday after Russia said it had fired a ballistic missile at Ukraine and warned of a broadening conflict, raising the prospect of tightening crude supplies. Russia is among the world's top crude oil producing countries, even with output declines following import bans tied to its invasion of Ukraine and supply curbs by producer group OPEC+. Russia this month said it produced about 9 million barrels of oil a day. Ukraine has used drones to target Russian oil infrastructure, including in June, when it used long-range attack drones to strike four Russian refineries.
Persons: Phillips, Vladimir Putin, Putin, Joe Biden, Jim Ritterbusch, meanwhile, Donald Trump's Organizations: Brent, . West Texas, British Storm Shadow, Ritterbusch, Associates Locations: Linden , New Jersey, United States, Russia, Ukraine, U.S, Britain, British, Ukrainian, Moscow, Florida, China
The atlas suggests ovaries are an untapped, rapid way to study human longevity treatments. Or, more specifically, test them out on aging ovaries, whether in well-controlled human studies, in the ovaries of mice, or in donor tissue samples. It shows that ovarian aging is a great proxy for overall human aging at a molecular level — ovarian aging is just happening several decades earlier, and very rapidly. So more and more people are paying attention to this concept of ovarian aging and considering it as a true aging process." Her study displays in fine cellular and molecular detail how human ovaries age, and how genetics impact the process.
Persons: Yousin Suh, Suh, Francesca Duncan, Duncan, It's Organizations: Columbia University, Northwestern University, Getty Locations: perimenopause
A dietitian said that eating more substantial meals would reduce the urge to binge on snacks. "I usually skip lunch because I'm not hungry because of my shake," Jessica said. Turoff recommends adding a carb like a baked sweet potato, rice, grains, or pasta to dinner to make the meals more balanced. AdvertisementTip 6: Build up to exerciseExercise plays a smaller role in fat loss than many people think, so Turoff recommends Jessica tackle her food first. Turoff recommends two to three sessions a week.
Persons: Jessica, Dietitian Alix Turoff, creamer, I'm, Turoff, overeating, she's, Jessica doesn't, I've Organizations: BI's Nutrition Clinic, Insider's Nutrition Clinic
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. Markets digest Nvidia earningsU.S. markets rose on Thursday after digesting Nvidia's earnings release. "If someone bought or if the Bluesky company went down, everything is open source." [PRO] Focus on Nvidia's BlackwellDespite Nvidia's revenue growth rising at a slower pace each subsequent quarter, analysts are still optimistic on the stock.
Persons: Donald Trump, Michael Novogratz, Trump's, Trump, Bluesky, Jay Graber, Nvidia's Blackwell, Blackwell, Colette Kress Organizations: CNBC, U.S . Department of Justice, Google, Chrome, JD Sports, Galaxy Digital, U.S . Federal Reserve, Elon, Nvidia Locations: British
Xi outlined China's "red lines" for the US, including the country's rights to development. He told Washington not to cross "four red lines" — which analysts say is a clear message for the incoming Trump administration. Foreign Minister Wang Yi has warned about not crossing Beijing's "red lines" in the past. AdvertisementXi's language raised some eyebrows, with analysts calling it "harsh" and deeming China's foreign ministry readout "strikingly negative" in some sections. Related storiesXi named Taiwan President William LaiOf the four "red lines," Taiwan is the most sensitive issue between the two countries, as Xi has repeatedly said over the years.
Persons: Jinping, Biden, Xi, Xi Jinping, Joe Biden, Washington, Trump, Igor Khrestin, George W, Khrestin, it's, Wang Yi, Florida Sen, Marco Rubio —, Beijing —, Jersey Lee, William Lai, William Lai Ching, Democratic Progressive Party —, Lai Ching, Lai, Tsai Ming Organizations: Trump, APEC Economic, Bush Institute, Trump Administration, Business, Beijing, State, Lowy, Democratic Progressive Party, Taiwan's National Security Bureau Locations: Beijing, China, Lima , Peru, Taiwan, Florida, United States, US, Ukraine
President-elect Donald Trump's tariff plans could weigh on the broader stock market, but some attractively valued names with strong cash levels could withstand the pressure, according to UBS. "The rally overlooks the potentially negative knock-on implications of tax cuts and tariffs on corporate performance and valuations." Against that backdrop, UBS looked for stocks that have high levels of cash and are attractively valued. The stock has a dividend yield of 2.7%. It has a dividend yield of 2.2%.
Persons: Donald Trump's, Trump, Michel Lerner, Lerner, Smoot, Paychex, Jason Kupferberg Organizations: UBS, Bank of America, CVS, Federal Trade Commission, Glenview Capital Locations: China, U.S, Hawley
Caiaimage/Paul Bradbury | Caiaimage | Getty ImagesWhen is a dupe an appropriate gift? Alternatively, "if it seems appropriate in the situation — if it is a more light-hearted gift — you can definitely go the dupe route," she said. 'It's a dupe for a reason'While some shoppers take pride in buying dupes, roughly 86% of shoppers have been disappointed by their purchase of a dupe, CouponCabin found. Shopping secondhand this seasonConsumers should make the same value considerations when buying secondhand, which has also become more popular, even for gifting. The majority, or 83%, of shoppers are also open to receiving secondhand gifts this holiday season, the report found.
Persons: Paul Bradbury, Caiaimage, Ellyn Briggs, Melanie Lowe, Lowe, CouponCabin, Lauren Beitelspacher, it's, Beitelspacher Organizations: Morning, Babson College, Pew Research Center, Facebook Locations: dupes, U.S
Investors should brace themselves for another big move next year, according to an analysis of historical data from Bank of America. The S & P 500 is up 24.7% in 2024 and on track for its second straight year with a gain of more than 20%. After rising 31% and 38% in 1927 and 1928, respectively, the S & P 500 lost 12% in 1929 and another 28% in 1930, Hartnett said. The last time the S & P 500 posted back-to-back 20% annual gains was in the 1990s, soaring 34% in 1995 and 20% in 1996. Hartnett noted that the "secret sauce" for the S & P 500 to avoid some of the sharp reversals seen before is a decline in Treasury yields.
Persons: Michael Hartnett, wasn't, Hartnett, Donald Trump, Goldman Sachs, Goldman Organizations: Bank of America Locations: U.S
Barack Obama was elected president, and the mood in the Republican Party picked up on the mood you’ve already described. But in the end, what he did electorally was not in that election to build the pan ethnic working class Republican Party. But at the very least, there was the conventional wisdom was that the Republican Party had to move substantially to the left on immigration. I just think that if the Republican Party is not the party of private property and wealth building, so I don’t think. Is there any chance that the Republican Party is about to not be the party of private property and wealth building No, no, I think you’re right.
Persons: I’m Ross Douthat, Donald Trump didn’t, Trump, I’ve, Reihan Salam, Reihan, George W, I’m, pry, Ross, Ross Douthat, let’s, Bill Kristol, Bush, Boomer, Giuliani, Ronald Reagan, wasn’t, Bill O’Reilly, Ross Reihan, Bush’s, Barack Obama, Obama, That’s, Mitt Romney, Paul Ryan, Ryan, Rush Limbaugh, notionally, Jeb Bush, Marco Rubio, Bill Clinton, Donald J, Let’s, it’s, It’s, , Donald Trump, Rudy Giuliani, Will, electorally, Romney, we’d, didn’t, Pat, John McCain, Frank, Kavanaugh, Trump’s, George Floyd, Biden, hadn’t, progressivism, premised, ender, New Party ”, ryan, neoliberals, Steve Bannon, Steve Moore, we’re, Moore, Bannon didn’t, COVID, JD Vance, Elon Musk, Musk, he’s, Vance, hasn’t, Clinton, Hillary Clinton, Margaret Thatcher’s, Reagan, Roosevelt, Republican policymaking, we’ve Organizations: New York, Republican Party, Manhattan Institute for Policy Research, New Party, New York Times, Harvard Institute of Politics, Harvard, The, Democratic, Great Society, Republicans, Republican, Reagan Democrats, Tribune, Trump, Perot, Tea Party, Party, Social Security, Grand New Party ”, Romney, Obama Trump voters, GOP, Amnesty, Reagan, Biden, American, America, romney, Infrastructure, Clinton Democrat, Uc Locations: Washington , DC, Northwestern, Washington ,, New York, Washington, Iraq, America, , China, American, United States, Clinton, it’s, Nevada
The Spartanburg, South Carolina, company is recalling more than 72,000 pounds of meat and poultry products because of possible listeria contamination. All ready-to-eat products produced before October 28 are included, the US Department of Agriculture’s Food Safety and Inspection Service says. Anyone who has these recalled products should not eat them. Listeria bacteria causes listeriosis, the third leading cause of death from foodborne illness in the United States. If you develop these symptoms and may have eaten recalled products, get medical care right away.
Persons: Shang, monocytogenes, , “ Listeria, Dr, Sanjay Gupta Organizations: CNN, Shang Food Inc, US Centers for Disease Control, US Department of Agriculture’s, Service, Food Safety, Inspection Service, CDC, , CNN Health Locations: Spartanburg, South Carolina, California, Illinois, New York, New Jersey, United States
AdvertisementA new study found that postpartum depression rates doubled over the past decade. A new study from JAMA found that postpartum depression diagnoses have doubled in the last decade. AdvertisementPlowing ahead, potentially ignoring postpartum depression symptoms, can lead to quicker burnout — and leaving a career entirely. AdvertisementPostpartum depression can be hard to identifySymptoms of postpartum depression range from intense mood swings to thoughts of harming your baby. Fornaro's husband worried about her postpartum depression and offered to pay for a nanny, which she initially refused.
Persons: Bri Ramos, Ramos, Ramos Zoloft, Nehaa, Stephanie Fornaro, it's, Justine Sterling Converse, Converse, hadn't, Fornaro, Clayton Shuman Organizations: Business, JAMA, Kaiser Permanente Locations: Kaiser Permanente Southern California, Texas, Greece, Iceland, North Macedonia
The yearslong effort to vanquish Donald Trump in court was a dismal failure. To oppose Mr. Trump in his second term, liberals must learn the lesson of this defeat, which is that there is no alternative to persuading our fellow citizens of our beliefs. Fifty years ago, Richard Nixon’s four Supreme Court appointments — Mr. Trump got only three — shoved the court right and consigned liberals to damage control. In this election, legalistic tactics contributed to Mr. Trump’s victory, helping to produce the popular majority he had never boasted before. For all of Mr. Trump’s misdeeds, prosecuting them was not worth the cost of restoring him to power.
Persons: Donald Trump, Trump, Richard Nixon’s, Mr, Judith Shklar, Trump’s
Jaguar new logo Courtesy: JaguarLuxury carmaker Jaguar has defended a rebrand that drew widespread criticism on social media this week. In a release, Jaguar said the media showcased its "dramatic new creative philosophy," branded "Exuberant Modernism," which will "inspire future vehicles." Three new electric models are expected from the company in the coming years, including a four-door GT car expected to have a six-figure starting price. We wanted to move away from traditional automotive stereotypes," Jaguar managing director Rawdon Glover told the Financial Times in an interview published Friday. A parked car featuring the existing Jaguar logo pictured on Monday, January 25, 202.
Persons: Jaguar, Gary Jenkins, they've, Rawdon Glover, Glover Organizations: Tata Motors, Rover, Facebook, CNBC, Jaguar, Miami Art, Financial Times, Nurphoto, Getty
CNN —President-elect Donald Trump has selected Russell Vought as his pick to lead the Office of Management and Budget, he said in a Truth Social post. Vought was one of the key authors of Project 2025 – the conservative blueprint that Trump tried to distance himself from during the campaign. He was Trump’s former budget director during his first administration when Vought oversaw a widespread deregulation push. During Trump’s first administration, Vought made a name for himself as a policy wonk committed to the MAGA movement. Before serving as Trump’s budget director, Vought was the deputy director and later acting director of OMB.
Persons: Donald Trump, Russell Vought, Trump, ” Trump, MAGA, Vought, Mike Pence Organizations: CNN, Management, Budget, OMB, Center, CRA, Heritage Foundation, Trump –, Mandate, Leadership, Republican National Convention Locations: America
These additives, along with high levels of sugar, salt and fat, help create the overwhelming lure of ultraprocessed foods. Ultraprocessed foods are typically high in added sugars, fats and salt; low in dietary fiber; and full of chemical additives, such as artificial colors, flavors and stabilizers. “There’s a lot of debate about whether or not all ultraprocessed foods are bad for you,” Hall said. Reduce intake of ultraprocessed foods — it’s really that simple.”Unfortunately, advisory committees are instructed to make recommendations using only the strictest science, Nestle added. It takes two overflowing trays of a mix of minimal and ultraprocessed foods to match the same energy density as one trayful of ultraprocessed foods.
Persons: Sam Srisatta, Srisatta, , Kevin Hall, Bert Lahr, Oz, , Jeff Greenberg, ” Hall, Marion Nestle, Paulette Goddard, Nestle, Hall, ” Nestle, “ It’s, It’s, LaMotte, Walter Willett, ” Willett, Dr, Fatima Cody Stanford, ’ ” Stanford, Deirdre Tobias, ” Tobias, Robert F, Kennedy Jr, Donald Trump’s, Kennedy, Bonnie Liebman, Liebman, they’ve, ” It’s, Kevin Hall’s, it’s, ” Srisatta, Sara Turner, ” Turner, Tera Fazzino, Fazzino, Sam Srisatta’s, won’t Organizations: CNN, Unit, National Institutes of Health Clinical, National Institute of Diabetes, Diseases, Cowardly, US Food and Drug Administration, Universal, FDA, Volunteers, Nutrition, Food Studies, Public Health, New York University, , World Health Organization, US Department of Agriculture, US Department of Health, Human Services, Harvard, of Public Health, Disease Prevention, Health, Harvard Medical School, Massachusetts General Hospital, , , Brigham, Women’s Hospital, Assistance, SNAP, Center for Science, NIH, University of Kansas Locations: Bethesda , Maryland, Bethesda, Japan, United States, Chan, Boston, Massachusetts
AdvertisementGreg Mansell says some employers are scrutinizing accommodation requests amid rising RTO mandates. As an employment lawyer of 15 years, here are my tips for employees to overcome four hurdles in the accommodation request process. Don't wait for your specialistAfter an accommodation is requested, employers may ask the employee's medical provider to fill out an accommodation request detailing the underlying impairment, the restrictions it imposes, and the requested accommodation. It may be useful for the disabled employee to prepare their own accommodation request and present it for their doctor's review. Document everythingIf you consult a lawyer, it's helpful to have as much documentation of the accommodation request process as possible.
Persons: Greg Mansell, Mansell, It's, Jill Kramer, Tess Martinelli Organizations: Accenture Locations: New York City, tmartinelli
For the first 53 years of his life, Elon Musk barely spent any time with Donald J. Trump. Then, beginning on the night of Nov. 5, he spent basically no time without him. And so Mr. Musk, more than any other key player in the presidential transition, finds himself in a cram session to learn the courtier politics of Mr. Trump’s inner circle. For the world’s richest person — not known for his humility or patience — it is a social engineering challenge far trickier and less familiar than heavy manufacturing or rocket science. The answer, as discarded aides from Mr. Trump’s first term will tell you, may depend on Mr. Musk’s ability to placate the boss and keep a relatively low profile — but also to shiv a rival when the time comes.
Persons: Elon Musk, Donald J, , Trump’s, shiv Organizations: Trump Locations: Washington, Silicon
AdvertisementA bodybuilder said he stopped skipping warm-ups, and it's led to better results in the gym. Adding weights to a warm-up can lead to better performance, research suggests. A bodybuilder said a four-part warm-up with some weightlifting helps him get the most out of his workouts to build muscle and strength. AdvertisementAdams said taking even a few minutes to warm-up and working in a few sets of moderate weight can translate to better movement. Activate — priming the right muscle groups, often with bodyweight exercise.
Persons: it's, Andre Adams, Adams, I've, you'll, Igor Nasser Organizations: National Academy of Sports Medicine, International Federation of Bodybuilding pro, Business, Federal University of Rio Locations: Federal University of Rio de Janeiro
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