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Search resuls for: "Mendrisio"


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☆ Gold hovers near 3-month high on hopes of smaller Fed hikes
  + stars: | 2022-11-15 | by ( ) www.cnbc.com   time to read: +1 min
One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Spot gold was steady at $1,770.70 per ounce, as of 0122 GMT, after hitting its highest since Aug. 17 in the previous session. The dollar index rose 0.3% against its rivals, making gold more expensive for other currency holders. The Fed will likely soon slow its interest rates hikes, Fed Vice Chair Lael Brainard signaled on Monday, but emphasized the central bank still had more work to do. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.03% to 910.41 tons on Monday from 910.12 tons on Friday.
☆ Gold prices ease as U.S. dollar, yields gain
  + stars: | 2022-11-14 | by ( ) www.cnbc.com   time to read: +2 min
One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices slightly retreated on Monday from a three-month peak hit in the previous session, as the dollar and U.S. bond yields rose after a top U.S. central banker warned that the Federal Reserve is not "softening" fight against inflation yet. Gold prices posted their biggest weekly percentage gain since March 2020 last week after signs cooling U.S. inflation lifted hopes that the Fed could be less hawkish on rate hikes. The dollar index rose 0.4% against its rivals after falling to a near three-month low on Friday, making gold more expensive for other currency holders. Benchmark U.S. 10-year Treasury yields edged up from a one-month low, increasing the opportunity cost of holding non-interest bearing gold.
☆ Gold eyes best week since March on hopes of less aggressive Fed
  + stars: | 2022-11-11 | by ( ) www.cnbc.com   time to read: +2 min
One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices eased on Friday, but were set for their biggest weekly gain in more than eight months, as U.S. data pointing to slowing inflation boosted hopes that the Federal Reserve would slow its aggressive rate hikes. The dollar index steadied after Thursday's fall but was headed for its biggest weekly drop since March 2020. U.S. consumer prices rose less than expected in October, indicating that inflation was slowing, which raised hopes that the Fed will begin scaling back its hefty rate hikes. Gold is considered a hedge against inflation, but rising interest rates increase the opportunity cost of holding non-yielding bullion.
☆ Swiss gold exports to China slow but shipments to Turkey surge
  + stars: | 2022-09-20 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Denis BalibouseLONDON, Sept 20 (Reuters) - Swiss exports of gold to China fell in August from July's 5-1/2-year high, while shipments to Turkey rose to their highest since June 2013, Swiss customs data showed on Tuesday. Large Western banks and refiners stopped buying gold from Russia after the Kremlin attacked Ukraine in February and Switzerland banned imports of gold from Russia in August. read moreBarring July's bumper number, Switzerland's exports of gold to mainland China in August were the highest since January. Turkey, which is enduring rampant inflation and a fast-weakening currency, began stepping up gold imports from Switzerland in May. Register now for FREE unlimited access to Reuters.com RegisterReporting by Peter Hobson; editing by Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.
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