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☆ People in China are so spooked about the economy that even the weak yuan isn't stopping them from buying more gold
▼ + stars: | 2024-04-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

China's consumers and its central bank are snapping up gold, even as a falling yuan makes the metal pricier. AdvertisementChina's central bank has also been buying up gold, in much larger quantities than Gen Z's few grams of beans. Related storiesIn 2023, China's central bank bought 225 tons of gold, per the World Gold Council. The two economies have been jostled in the top spots for years, but China's buying spree last year put India behind. Advertisement"The amount of central bank buying is not justifying gold prices at current levels," she wrote.

Persons: —, It's, Georgette Boele Organizations: Service, Bloomberg, People's Bank of China, Gold, World Gold Council, ABN AMRO Locations: China, China's, India, Poland, Singapore, Germany

☆ Safe-haven gold rises as Israeli attack on Iran raises concerns of wider conflict
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: +2 min

Ingots of 99.99 percent pure gold are placed in a workroom at Novosibirsk Refining Plant, Russia on September 15, 2023. Gold prices rose on Friday as risk aversion swept across financial markets following media reports on explosions in Iran, prompting fears of a wider regional conflict and increasing bullion's safe-haven appeal. The news of Israel's attacks on Iran today "is driving gold price attention on the Middle East which has been the sole thing keeping the gold price moving higher for weeks now. "Gold is not a monetary policy trade at the moment, it's a geopolitics trade," Rodda said. Eventually, even if geopolitical risks subside, "Chinese gold reserve accumulation acts as the major catalyst.

Persons: Bullion, Kyle Rodda, Rodda, Ilya Spivak Organizations: Novosibirsk Refining Plant, Reserve Locations: Novosibirsk, Russia, Iran, Israel

☆ Faith Ringgold obit: ‘Tar beach’ author and Black quilt artist dies at 93
▼ + stars: | 2024-04-14 | by ( Yahya Salem | ) edition.cnn.com time to read: +6 min

Faith Ringgold, pictured in her studio in New York City in 1999. Anthony Barboza/Getty Images(CNN) — Faith Ringgold, the pioneering artist and author best known for her narrative quilts that interwove art with activism, has died at 93. After earning her bachelor’s degree in fine art and education in 1955, Ringgold began teaching art in public schools while developing her own art. Her early work was influenced by civil and racial unrest, and had patent and profound political and social tones. The painting, arguably the series’ most famous, gorily depicts a group of men, women and children brutally attacking one another.

Persons: Faith Ringgold, Anthony Barboza, Faith, ”, Dorian Bergen, “, Ringgold, Ringgold’s adamancy, Jacquelyn Martin, Madame Willi Posey, ” Ringgold, Leila Macor, Connie’s Organizations: New York Times, ACA Galleries, Ringgold, CNN, Harlem, City College of New, City College, Civil, Museum, Modern, Museum of Modern Art, National Museum of Women, Arts, Washington , D.C, New Museum, American, de Young Museum, Museum of Contemporary Art, Basel, Getty Locations: New York City, New Jersey, Harlem, America, African American, Washington ,, Vietnam, Paris, London, New York, San Francisco, Museum of Contemporary Art Chicago, Miami Beach , Florida, AFP

Nestled against the Rocky Mountains, Boulder, Colorado, has blossomed into a thriving hub for the natural products and wellness industry. The tea company was later acquired by Hain Food Group — now Hain Celestial Group — in 2000 for $390 million. Hain Celestial Group CEO Wendy Davidson (left) and CNBC's Andrea Day (right) trekking along the historic footrails where the founders of Celestial Seasonings gathered wild herbs in 1969. Turning peanut butter into goldThe Boulder County Farmers Market, a vibrant incubator since 1987, exemplifies the region's thriving ecosystem. A sign from the Boulder Farmers Market, operating from April to November, serving as an incubator for numerous small food businesses.

Persons: Wendy Davidson, CNBC's Andrea Day, Davidson, It's, Justin Gold, butters, —, Gold, Daniel Acker, Juan Stewart, Stewart, Kristine Carey, Kristy Lewis, Quinn Snacks Organizations: U.S . News, Rockies, Hain Food, Group, CNBC, Leeds School of Business, University of Colorado, Farmers, Boulder Farmers, Foods, Hormel Foods, Bloomberg, Getty, Boulder County Farmers, Kroger, Companies Locations: U.S, CNBC's, Rocky, Boulder , Colorado, Boulder, University of Colorado Boulder, Tiskilwa , Illinois, Boulder County

☆ The big, month-long rally in commodities is turning these ETFs into winners
▼ + stars: | 2024-04-06 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

Some equity funds closely tied to those commodities, such as those that invest in gold and silver miners, have soared even more. Five of the six biggest gold ETFs have seen outflows this year, totaling almost $3 billion, according to FactSet. GLD 5Y mountain Gold, and the ETFs that track it, are trading at record highs in early 2024. The fund's holdings include gold, silver, platinum and palladium. Meanwhile, Teucrium has several ETFs focused on agricultural commodities that have climbed over the past month as well, including the the Teucrium Soybean Fund (SOYB) , up over 3%.

Persons: Jake Hanley, Hanley, Robert Minter, Minter, Teucrium Organizations: United States Oil Fund, Hershey Locations: East, Europe

☆ Gold pauses record rally ahead of U.S. jobs data
▼ + stars: | 2024-04-05 | by ( ) www.cnbc.com time to read: +2 min

Two Argor-Heraeus SA 250 gram gold bars at Solar Capital Gold Zrt. Spot gold was down 0.5% at $2,278.50 per ounce, as of 0328 GMT, after hitting a record high of $2,305.04 on Thursday. "Gold will continue to rally with normal pull-backs," Luca Santos, an analyst at ACY Securities said. Bullion was on track for a third straight weekly gain, up 2.3% so far, also driven by strong central bank buying and demand from momentum-following funds. Traders are currently pricing in about 65% chance that the Fed will cut rates in June, according to the CME FedWatch tool.

Persons: Luca Santos, Santos, Bullion, Hugo Pascal, Pascal, Jerome Powell Organizations: Heraeus, Solar, U.S ., Federal, ACY Securities, NFP, Palladium Locations: Budapest, Hungary, U.S

☆ 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

☆ Here's what's driving the gains for gold
▼ + stars: | 2024-04-02 | 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 gains for goldImaru Casanova, VanEck International Investors Gold Fund portfolio manager, joins 'The Exchange' to discuss catalysts behind gold's recent price movements, how much inflation is playing into gold's price, and more.

Persons: Imaru Casanova

☆ Gold prices are at an all-time high—but experts like Warren Buffett don't always recommend investing
▼ + stars: | 2024-04-01 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

And even though gold prices are at an all-time high, many market watchers are still taking a shine to it. But even with a favorable outlook, gold should play a very different role in your portfolio than stocks or bonds, investing experts say. Why gold is up and could continue to riseDifferent investors cite different reasons for owning gold. In addition to a rising tide, a weakening U.S. dollar and falling bond rates have boosted gold prices of late, says Hayes. At lower rates, bonds and cash accounts "have less of a competitive advantage" over gold, he tells CNBC Make It.

Persons: it's, Tim Hayes, Ned Davis, Warren Buffett, It's, Ford O'Neill, we've, Hayes, Buffett Organizations: Ned, Ned Davis Research, Billionaire, Berkshire Hathaway, Fidelity, CNBC, Federal Reserve, ExxonMobil Locations: Berkshire, U.S

☆ What's driving gold's rally to record highs?
▼ + stars: | 2024-03-28 | 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 EmailWhat's driving gold's rally to record highs? Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Brian Sullivan, “ Organizations: CNBC

☆ Here are Wednesday's biggest analyst calls: Apple, Nvidia, Tesla, Spotify, Marvell, Netflix, Disney, DraftKings & more
▼ + stars: | 2024-03-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

"Royal Gold's valuation is now more compelling under our new commodity price assumptions and with modest relative underperformance of Royal Gold share price year to date." Citi reiterates Tesla as neutral Citi lowered its price target on the stock to $196 per share from $224 ahead of the company's delivery numbers in early April. We rate the shares Overweight." Citi reiterates Nvidia as buy Citi said it's sticking with its buy rating on shares of Nvidia. HSBC initiates Spotify as buy HSBC initiated the stock with a buy and said it's "hitting the right notes."

Persons: Morgan Stanley, Tesla, Evercore, Raymond James, GoDaddy, BIL, Baird, Tesla Baird, it's, Wells, Mizuho, Cabot, OEC, Needham, DraftKings, Davidson downgrades Lowe's, UBS downgrades Linde Organizations: Western Digital, KBW, BMO, Royal, Royal Gold, Netflix, JPMorgan, Apple, Deutsche Bank, Citi, Visa, Marvell Citi, UBS, Disney, GE, Nvidia, AMD, HSBC, Spotify, Barclays, JetBlue, LIN Locations: Wells Fargo, GDDY, China, 473.3k

☆ Why are gold and miners not moving in sync?
▼ + stars: | 2024-03-27 | 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 EmailWhy are gold and miners not moving in sync? Michael Bapis, Vios at Rockefeller Global Family Office, joins 'Fast Money' to discuss gold's rally as it hit another record high today.

Persons: Michael Bapis Organizations: Rockefeller Global Family Locations: Vios

☆ Gold's three-week winning streak under pressure amid U.S. inflation heat
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were on track on Friday to snap a three-week winning streak as surprisingly hot U.S. inflation readings prompted traders to re-think on how swiftly and deeply the Federal Reserve could cut interest rates this year. A reading on consumer inflation earlier this week also showed some stickiness in inflation. Higher inflation adds pressure on the U.S. Fed to keep interest rates elevated, weighing on non-yielding assets such as gold, and increasing appeal for bonds, raising the dollar. Other data showed U.S. retail sales rebounded last month, but were below analyst estimates, while fewer people sought unemployment claims. Spot platinum fell 0.4% to $927.35 per ounce, palladium dropped 0.2% to $1,066.86, while silver was up 0.6% at $24.97.

Persons: Hugo Pascal Organizations: U.S, Fed, Traders Locations: Singapore, InProved .

☆ 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's recent run is one for the history books and has gotten out of hand, Barclays says
▼ + stars: | 2024-03-12 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Gold prices are anticipating the Federal Reserve's first interest rate cut this year but the historic move has gotten out of hand, according to Barclays. The precious metal has rallied about 7% over the past month, a move that has been surpassed only 6% of the time over the past decade, analysts led by Stefano Pascale told clients in a note released Tuesday. Gold rose for nine consecutive trading sessions — a near record run — according to the analysts. Large funds that had bet against gold started short covering in the wake of the Fed pivot, while demand for gold from central banks remained high, providing tailwinds for the precious metal. With gold getting ahead of itself, in Barclays' view, the British bank recommends that investors replace long delta positions with options to gain upside exposure, lock-in gains and limit downside risk.

Persons: Stefano Pascale, Pascale Organizations: Federal, Barclays

☆ Gold retreats from near record-high levels ahead of U.S. inflation data
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +2 min

Gold prices slipped from near record-high levels on Tuesday, as traders braced for key U.S. inflation report that could give more clarity on when the Federal Reserve might start cutting its interest rates. Spot gold fell 0.2% to $2,178.53 per ounce, as of 0424 GMT, after rising for nine consecutive sessions. "Following the stellar run-up in gold prices, it does call for some near-term breather," IG market strategist Yeap Jun Rong said. Another surprise run of hotter-than-expected inflation data for February will likely challenge that, which could drive some near-term unwinding in gold prices." Traders are pricing in three to four quarter-point (25 bps) U.S. rate cuts, with a 70% chance for the first in June, as per LSEG's interest rate probability app.

Persons: Bullion, Yeap Jun Rong, there's, Tim Waterer Organizations: Co, Federal Reserve, Traders, U.S . Treasury, KCM Trade Locations: Bangkok, Thailand, U.S

☆ Gold prices could keep climbing — but analysts expect silver to steal the show before long
▼ + stars: | 2024-03-11 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

A record-breaking rally for gold may yet continue, particularly as investors position for interest rate cuts — but analysts say silver appears well placed to outshine the yellow metal in the second half of the year. Spot gold prices on Monday edged higher to $2,178 per ounce, after settling at their highest since 1979 on Thursday last week. Spot silver prices, meanwhile, were last seen up 0.2% at $24.36 per ounce at 6:24 a.m. London time (1:24 a.m. Precious metal prices have pushed higher in recent weeks amid growing expectations of U.S. interest rate cuts. Gold, which is typically considered a "safe haven" asset at times of financial uncertainty, has rallied despite high interest rates and a relatively strong U.S. dollar.

Persons: Jerome Powell, Marcus Garvey, CNBC's Organizations: Macquarie Locations: London

☆ Gold holds above $2,100 near record high, focus on Powell testimony
▼ + stars: | 2024-03-06 | by ( ) www.cnbc.com time to read: +2 min

Gold prices held above the $2,100 level on Wednesday, near a record peak hit in the previous session as hopes for U.S. rates easing by mid-year mount, while traders awaited remarks on the economy's health from Federal Reserve Chair Jerome Powell. Gold prices held above the $2,100 level on Wednesday, near a record peak hit in the previous session as hopes for U.S. rates easing by mid-year mount, while traders awaited remarks on the economy's health from Federal Reserve Chair Jerome Powell. Spot gold edged down 0.1% at $2,126.13 per ounce, as of 0458 GMT. Spot prices hit a record peak of $2141.59 per ounce overnight on Tuesday, rallying for a fifth straight session. Spot platinum rose 0.4% to $884.16 per ounce, and palladium rose over 1% to $958.20, while silver dropped 0.3% to $23.63.

Persons: Jerome Powell, Ajay Kedia, Kunal Shah Organizations: Federal, Kedia Commodities, Traders, U.S, Nirmal, Commodities Locations: Mumbai, U.S

☆ Bitcoin ETFs will bring about a 'flood of liquidity' to the market, says Fred Thiel
▼ + stars: | 2024-02-14 | 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 EmailBitcoin ETFs will bring about a 'flood of liquidity' to the market, says Fred ThielFred Thiel of Bitcoin mining company Marathon Digital discusses why he thinks Bitcoin ETFs are a good thing for the cryptocurrency's market and says he expects it to behave in a similar manner to gold's as it matures.

Persons: Fred Thiel Fred Thiel Organizations: Marathon

☆ Gold steady as Fed remarks counter safe-haven demand
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: +2 min

Gold prices steadied on Thursday as a pushback from U.S. Federal Reserve officials on market hopes for early interest rate cuts offset safe-haven demand after Israel rejected a ceasefire offer from Hamas amid continuous talks to end the Gaza conflict. Gold prices steadied on Thursday as a pushback from U.S. Federal Reserve officials on market hopes for early interest rate cuts offset safe-haven demand after Israel rejected a ceasefire offer from Hamas amid continuous talks to end the Gaza conflict. Spot gold held its ground at $2,033.56 per ounce, as of 0427 GMT. Fed officials want to hold off on cutting interest rates until they have more confidence that inflation is headed down to 2%. Gold, considered a safe-haven investment, tends to gain during times of political and economical uncertainty.

Persons: Tim Waterer, Moody's, Waterer Organizations: U.S . Federal, Israel, KCM, U.S, Community Bancorp Locations: U.S, Gaza, New, Germany, China

☆ Silver set for a 'terrific year' and could outperform gold to hit a 10-year high
▼ + stars: | 2024-02-07 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

Global silver demand is forecast to reach 1.2 billion ounces in 2024, which would mark the second-highest level on record, the Silver Institute said in a recent report. "We think silver will have a terrific year, especially in terms of demand," Michael DiRienzo, executive director of the Silver Institute told CNBC. He expects silver prices to reach $30 per ounce, which would be a 10-year high, according to data from LSEG. Silver prices, like gold, tend to have an inverse relationship with interest rates. In contrast, gold prices usually rise during times of economic weakness or uncertainty.

Persons: Nicky Loh, Michael DiRienzo, Randy Smallwood Organizations: Silver Bullion, Bloomberg, Getty, Silver Institute, CNBC, Wheaton, Metals, U.S . Federal Reserve, Wheaton Precious Metals, Vw Locations: Singapore, India, U.S

☆ Gold slides as US jobs data dampens bets of early rate cut
▼ + stars: | 2024-02-05 | by ( ) www.cnbc.com time to read: +2 min

Gold prices fell on Monday, as the U.S. dollar and Treasury yields surged after a robust jobs report crushed expectations of near-term interest rate cuts from the Federal Reserve. Spot gold was down 0.5% at $2,029.03 per ounce by 0556 GMT. Traders are betting on four quarter-point Fed rate cuts for 2024, down from six last Monday, according to LSEG's interest rate probability app IRPR. Investors are awaiting remarks from a host of Fed speakers this week for further clues on rate cuts. Spot silver fell 0.5% to $22.56 per ounce, palladium dropped 0.8% to $939.26, while platinum rose 0.5% to $894.99.

Persons: Jerome Powell, Matt Simpson, Simpson Organizations: U.S ., Treasury, Federal Reserve, Index, Traders, U.S . Labor, Reuters, Fed Locations: Singapore

☆ Wealth manager for the super-rich names 3 stocks to buy right now
▼ + stars: | 2024-02-05 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +5 min

For Kevin Teng, CEO of Wrise Wealth Management Singapore, which serves ultra-high-net-worth individuals across Asia, the Middle East and Europe, three top stocks stand out as good plays right now. Of 52 analysts covering the stock, 48 give it a buy or overweight rating at an average price of $460.37, according to FactSet data. Barrick Gold Beyond tech and energy, Teng is also bullish on gold, naming Canadian miner Barrick Gold among his top picks. Spot gold prices are up around 7.5% over the last 12 months. Shares in Barrick Gold are down over 15% over the last 12 months.

Persons: Kevin Teng, Teng, Morgan Stanley, — CNBC's Jordan Novet, Fred Imbert Organizations: Big Tech, U.S . Federal, Wrise Wealth Management Singapore, Microsoft, Google, Apple, Nvidia, Tesla, CRM, CNBC Pro, ExxonMobil, Natural Resources, Exxon, Barrick, Barrick Gold Locations: Asia, East, Europe, West Texas, New Mexico, Guyana, Zambia, Pakistan

☆ The Fall of the Timepiece Gentleman, the Luxury Watch Dealer Who Ran Afoul of the Feds
▼ + stars: | 2024-02-04 | by ( David Kushner | ) www.businessinsider.com time to read: +29 min

Farrer is better known as the Timepiece Gentleman, the flashiest online dealer in the $75 billion luxury watch trade. All he needed was the right name for his luxury watch business — something distinctive, something memorable. In his mind, he pictured what the ultimate luxury watch dealer would look like. To launch his career as the Timepiece Gentleman, Farrer boned up on the jargon of horology, from escape wheels and spring barrels to flinques and guilloches. Despite the staggering size of the luxury watch trade, nobody had thought to market its glamour and mystique.

Persons: Reddit, I've, Anthony Farrer, Farrer, Mark Wahlberg, Marky Mark, Patek Philippes, Sharf, Prada, he'd, Cameron, Travis Baker, chronograph, Richard Chance, He'd, timepieces, Farrer boned, they're, Kevin Hart, It's, Buyers, Darby McVay, McVay, Liz Guilliams, Guilliams, You've, Dallas —, Crimepiece, vouching, Santa Monica, —, Darth Vader, y'all, reselling, Anthony, stiffing, Wesley Stokes, Stokes, Bob Schober, Joe Haden, Richard Mille, Schober, He's, Peter, Paul, didn't Organizations: YouTube, FBI, Timepiece Gentlemen, Watch, Buffalo Wild Wings, Business, Boston Consulting Group, Texans, Craigslist, Lamborghini, Malibu, Downtown, Hollywood, Cleveland Browns, TPG, Ducati, Venice Locations: Venice , California, Venice, backwoods Texas, Reddit, cowpoke, Sherman , Texas, Dallas, It's, Salt, Riding, Los Angeles, In Dallas, LA, Santa, Texas, Downtown Los Angeles, South Carolina, Scottsdale , Arizona, Stokes

☆ Gold set for monthly dip on rate caution; Fed in focus
▼ + stars: | 2024-01-31 | 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. Spot gold edged 0.1% lower to $2,033.88 per ounce by 0513 GMT, after touching a two-week high of $2048.12 in the previous session. The chances of a March rate cut have dropped to 44% from about 90% a month ago. "With renewed hopes of a truce in Gaza, today's FOMC meeting runs the risk of disappointing doves and weighing on gold," said Simpson. Spot silver dropped 0.5% to $23.05 per ounce, platinum slipped 0.2% to $918.79, and palladium rose 0.2% to $977.67.

Persons: it's, Matt Simpson, Simpson, Jerome Powell Organizations: Co, Federal Reserve, Fed, Index, Traders, Treasury Locations: Bangkok, Thailand, U.S, Gaza

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