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Gold eyes weekly gains as geopolitical uncertainty boosts appeal
  + stars: | 2024-10-25 | by ( ) www.cnbc.com   time to read: +2 min
Spot gold slipped 0.2% at $2,730.09 per ounce, as of 01:55 GMT. U.S. gold futures fell 0.2% to $2,742.80. "In the next three months, gold may reach $2,800, and from the annual perspective, it can surpass the psychologically important $3,000 barrier." The U.S. asked the Group of Seven allies to consider sanctions on Russian palladium and titanium, Bloomberg News reported. It benefits from its dual role of monetary value and as an industrial metal with growth driven by the breakneck growth of photovoltaics," said Paul Wong, market strategist at Sprott Asset Management.
Persons: Alexander Manzyuk Gold, Julia Khandoshko, Nornickel, Daniel Hynes, Silver, Paul Wong Organizations: REUTERS, Bloomberg News, ANZ, Sprott Asset Management Locations: Siberian, Krasnoyarsk, Russia, Gaza . U.S, Doha, Gaza, U.S
Below, two gold experts share four ways investors can add gold to their portfolios. AdvertisementIn general, physical gold is a less liquid way to own the asset and is quite costly. Synthetic gold ETFs don't hold physical gold, investing instead in gold derivatives such as futures and options. In Milling-Stanley's opinion, investing in mining stocks instead of directly investing in gold erodes some of the metal's portfolio protection, as mining stocks behave more in line with the general equity market. Royalties limit the holder's exposure to the risks associated with directly investing in mines, such as exploration, development, and regulatory compliance.
Persons: , Jeff Muhlenkamp, they'll, George Milling, Stanley, Muhlenkamp Organizations: Service, Costco, Muhlenkamp & Company, State Street Global Advisors, Trust, MiniShares, Mining, Eagle Mines, Newmont Mining Corp, Wheaton Precious Metals Locations: Franco, Nevada
This, despite the fact that younger investors were more optimistic about the economy, their incomes, their living situations, and their investments. Millennial investors have been deeply scarred by two life-changing crises in their young lives. But if you look at hard numbers from the Federal Reserve about what millennial investors actually own, you can see that this stereotype is misguided. When you compare millennials' cash levels with Gen X's cash levels at the same age, though, the risk aversion becomes clear. But when it comes to younger investors, I think the scars run deeper than worries about a coming downturn.
Persons: Cash, it's, millennials, Gen Xers, boomers, There's, would've, you'd Organizations: Bank of, Federal Reserve, University of Michigan, Occupy, Dow, Netflix Locations: eToro, United States, YOLO
Gold's record rally pauses due to stronger dollar, higher yields
  + stars: | 2024-10-23 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices surged to a record high on Wednesday as the conflicts in the Middle East and uncertainty surrounding the upcoming U.S. election spurred demand for safe-haven assets. Gold prices fell over 1% after hitting a record high on Wednesday, as a stronger dollar and a rise in U.S. Treasury yields countered support from safe-haven demand linked to the Nov. 5 U.S. election and Middle East war. Spot gold was down 1% to $2,721.12 per ounce as of 12:25 p.m. EDT (1410 GMT) after hitting a record high of $2,758.37 earlier in the session. However, gold could see the $2,800/oz level by the week's end on safe-haven demand, Haberkorn added. The dollar index rose 0.3% to near a three-month high, making gold less appealing for other currency holders, while U.S. bond yields climbed to a three-month high.
Persons: Bob Haberkorn, Haberkorn, Ole Hansen, Kamala Harris, Donald Trump Organizations: Treasury, Saxo Bank, U.S, Republican, Reuters Locations: U.S
He sat down with BI to talk about the race, the national debt, abortion, and the state of his party. In an era where college-educated voters have been bleeding out of the GOP, Schweikert is increasingly an outlier, and he knows it. In order to keep looking like his district, Schweikert — a one-time conservative rabble-rouser who rode his way into Congress during the 2010 Tea Party wave — has had to make some changes. But now that Schweikert's sharing the ballot with Trump, he's not sweating that either. But while Democrats are hoping the state-level vote will boost turnout on their side and remind voters of Republicans' opposition to abortion, Schweikert sees it differently.
Persons: David Schweikert, , Republican who's, Donald Trump, Schweikert, Arizona's, Joe Biden, Katie Hobbs, Sen, Mark Kelly, Jevin Hodge, Jon Sutton, It's, I've, who's, he's, Shah, rouser, There's, Schweikert's, Tim Scott of, He's, Bryan Metzger Schweikert, Kari Lake, David Schweikert Decries, Trump, mailer, Sutton, JD Vance, Ohio, Matthew, Tom Williams, that's, Shah eked, Krysten, they're, Shah outraised, Bryan Metzger There's, Roe, Wade, Frederic J . Brown, Kamala Harris, Nikki Haley, Arizona's Haley, Harris Organizations: GOP, Service, Republican, Republicans, Democratic, Caucus, Trump, Capitol, YouTube, Forbes, Social Security, Medicare, Committee, Insurance Trust Fund, Federal, Commission, Electoral, FBI, Federal Aviation Administration Reauthorization, COVID, Mayo Clinic, Getty, United Nations Locations: Arizona, Scottsdale, Congress, America ., Phoenix, an Arizona, It's, Schweikert, Tim Scott of South Carolina, Springfield, America, AFP, Maricopa County, Schweikert's district, North Scottsdale
Spot gold prices have soared above $2,700 an ounce, rallying for the fifth day on Monday to hit another record high of over $2,733 an ounce. But Wider noted the de-correlation of 10-year Treasury real interest rates (adjusted for inflation) and the price of gold. XAU= 5Y mountain Gold John Reade, senior markets strategist at the World Gold Council trade association, warned of volatility ahead, however. Allocating to gold Reade advised investors to always have a position in gold, albeit as a relatively small part of a portfolio. Principal Asset Management's Jablonski, meanwhile, said he has less than 5% of his portfolio allocated to commodities, including gold.
Persons: Michael Widmer, I'm, CNBC's, Widmer, Todd Jablonski, Jablonski, John Reade, Reade, Management's Jablonski, Fred Imbert Organizations: Bank of America, Treasury, CNBC Pro, World Gold Council, CNBC
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. Shares of Hyundai Motor India fallHyundai Motor India shares retreated more than 5% on Tuesday – their trading debut – according to BSE data. Hyundai Motor India is a wholly owned Indian subsidiary of South Korean automaker Hyundai. New bullish phase for goldGold prices hit a record high of $2,700 per ounce on Monday, and are continuing their ascent Tuesday.
Persons: Australia's, Paul Wong Organizations: CNBC, Nasdaq, Dow Jones, Treasury, Hyundai Motor India, Hyundai, South, Reuters, Sprott Asset Management, Citi, U.S ., Scotiabank, Canadian Locations: Asia, Pacific, India, Reuters ., China, U.S
I began a private practice, providing personalized psychiatric care and psychotherapy, focusing on women's mental health and perinatal mental health. I also now have a digital mental health platform. Now, as the cofounder and CEO, I'm caring for patients and working to raise awareness of relevant mental health issues. 5 p.m. - 7 p.m.:Dinner time is family time — I block my work calendar to be fully present during these hours. The evening usually involves playing with the toddlers and caring for the baby, but by this point, I'm pretty exhausted.
Persons: Sarah Oreck, Oreck, , Emma Sugerman, he's, doesn't, I'm, We've, Lauryn Haas Organizations: Mavida, Service, Mavida Health, Health, lhaas Locations: Los Angeles, East Coast, LA
Silver's breakout in absolute terms has the potential to result in relative outperformance versus gold in the weeks ahead. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein.
Persons: Katie Stockton Organizations: CNBC, NBC UNIVERSAL, Fairlead, CNBC Pro, Securities
ACCRA, Ghana — Illegal small-scale gold mining in Ghana has been linked with the destruction of the environment and illness. A protest in Accra, Ghana, demanding government action on illegal gold mining. Yaw Amoafo, who owns several small gold mines employing 20 to 30 people each, said public anger at galamsey mining has forced him to cease operations. He added that he feared the government would introduce a short-term ban on small-scale mining, like the one it implemented in 2017. Earlier this year it opened the government-backed Royal Ghana Gold Refinery, with the intent of getting it accredited by the LBMA.
Persons: galamsey, Nana Akufo, Nipah Dennis, Cristina Aldehuela, Addo, Yaw Amoafo, , , Amoafo, Eddie James Richmond, Neil Harby, Harby, Francis Kokoroko, Swissaid Organizations: West, Water Resources Commission, Getty, Ghana’s Ministry of Land, Resources, Ghana Water Ltd, International Institute for Strategic Studies, Watch, Ghana’s Minerals, International Monetary Fund, Sahara Royal Gold Refinery, London Bullion Market Association, Reuters, State Department, Royal, Royal Ghana Gold Refinery Locations: ACCRA, Ghana, Accra, , AFP, Cape Coast, Pra, Kibi, London, U.K, South Africa, Africa, Switzerland, Mali, Zimbabwe, Royal Ghana
The author paid a company, Renewable Recycling, to pick up and recycle his queen-size mattress in New York City. Greg IacurciI paid $95 to recycle a mattress. Why mattress recycling can be expensiveShredded old mattress materials. Guillaume Souvant | Afp | Getty ImagesThe $95 fee I ultimately paid to Renewable Recycling is "pretty standard" among mattress recyclers, Conway said. For example, cotton remnants must be picked off steel mattress springs before it can be shredded or baled for sale to scrap markets, according to the Mattress Recycling Council.
Persons: Greg Iacurci, Alicia Marseille, Robert Brook, , Meg Romero, Charles, Mark Rightmire, Romero, Peter Conway, Conway, Guillaume Souvant, Charles County, " Romero, Staples, Reid Lifset, Amanda Wall, Wall Organizations: Renewable, U.S, Mattress, Arizona State University, MRC, Salvation Army, Goodwill, Freecycle, Recycling Inc, MediaNews, Orange, Getty, Spring, Afp, Yale School of, Colorado, Environmental Resources, Arizona State University Individuals, International Sleep Products Association Locations: New York City, Brooklyn, Charles County , Maryland, East Rockaway , New York, San Juan Capistrano , California, Spring Back Colorado, Commerce City, Colorado, Oceanside , New York, Charles, California, Mexico, Canada, India, Egypt, Texas, Marseille, — California, Connecticut, Rhode, Oregon, Rhode Island, New York , Massachusetts, Maryland, Virginia
“It is so visibly dehumanizing to actually criminalize such an act of humanity and dignity,” she said. Demonstrators at Saturday’s voting rights rally at Morehouse College. So, in this moment, we want to say that we are not going back.”The gathering also focused on the rights of disabled voters. “Black voters would be suppressed on the back of disabled voters. “The Voting Rights Act has been so attacked,” she said.
Persons: , , Nicole Carty, ” Carty, Jim Crow, Martin Luther King, Senate runoffs, Brian Kemp, Matthew Johnson, Kamala Harris, Barack Obama, Michelle Obama, Curtis Bunn, Gerald Griggs, Dom Kelly, Kemp “, ” Kelly, , squirrelly Organizations: ATLANTA, Morehouse College, Get, Democratic, Senate, Gov, Morehouse, Atlanta NAACP, Renaissance Guild, New Disabled, NBC, Civil Rights Movement, NAACP Locations: Georgia, Atlanta, Randolph County , Georgia
Investors worried about a market correction should adjust their portfolios, David Rosenberg says. The top economist has warned stocks are in a bubble and at risk of a major decline. Investors need to exercise caution and avoid following the "herd mentality," Rosenberg said, pointing to the fervor for mega-cap tech stocks. Instead, he said, investors should focus on stocks with strong business models, strong growth, and good prices, and add some "insurance" to their portfolios. Most forecasters on Wall Street still expect a strong performance from equities into year-end and 2025.
Persons: David Rosenberg, , who's, he's, Chuck Prince, Rosenberg, REITs, Goldman Sachs Organizations: Service, Rosenberg Research, Utilities, Aerospace, UBS, BMO, Deutsche Bank Locations:
For investors looking to get long silver, the ETF to use is the iShares Silver Trust (SLV) . Silver charts Chart 1 Chart 2 Chart 3 Chart 4 -Carter Braxton Worth For actionable recommendations via email and live nightly videos become a member at worthcharting.com DISCLOSURES: None. THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.
Persons: it's, SLV, Carter Braxton Worth Organizations: CNBC, NBC UNIVERSAL
Recently, though, they've found something new to love about the wholesaler: precious metals. But it's far from the first time precious metals have been in vogue, especially among people looking to invest in them. In other words, with platinum not having changed much in price during gold's recent rise, precious metals investors may be wondering if it's the next big thing. But potential investors in gold or platinum should know some key differences. How to invest in precious metals
Persons: they've, Costco's, Trevor Yates, Rob Haworth, They're, Yates Organizations: Costco, Global, U.S, Bank Wealth Management
CNN —Texas death row inmate Robert Roberson sat praying in a cell Thursday night, just feet from the execution chamber where he was set to die by lethal injection for the “shaken baby” death of his toddler. Just over 90 minutes before Roberson’s execution was set to begin, the House committee was able to secure a temporary restraining order against the state, pausing the execution. Roberson’s case is called into questionAdvocates for Roberson insist the diagnosis that his daughter died from shaken baby syndrome is inaccurate and has been discredited. Shaken baby syndrome is accepted as a valid diagnosis by the American Academy of Pediatrics and supported by child abuse pediatricians who spoke with CNN. Since 1992, courts in at least 17 states and the US Army have exonerated 32 people convicted in shaken baby syndrome cases, according to the National Registry of Exonerations.
Persons: Robert Roberson, Nikki, Roberson, God, , , Amanda Hernandez, Robert Roberson –, Gretchen Sween, Joe Moody, Jeff Leach, Jennifer Roberson, Robert, “ It’s, Brian Wharton, Wharton, ” Wharton, “ We’ve, ” Roberson, , Moody, Leach, Greg Abbott, Ken Paxton, pediatricians, Nikki Curtis, Nikki “, Dr, Sandeep Narang, Antoinette Laskey Organizations: CNN, Texas Supreme, Texas House, Texas Department, Criminal, Texas, US, Appeals, Criminal Justice, Division, Texans, Huntsville Unit, Texas Capitol, Texas Gov, American Academy of Pediatrics, US Army, National Registry, American Academy of Pediatrics ’, Child Locations: Texas, Palestine , Texas
Price of gold is proving an unstoppable force lately
  + stars: | 2024-10-18 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
Gold recently regained momentum after the Federal Reserve began its easing cycle with a half-percentage point rate cut last month. However, the latest upturn comes despite rebounds in Treasury yields and the U.S. dollar too, which might be expected to take the wind from gold's sails. Higher yields typically make gold less attractive, as the metal doesn't offer any yield. The 10-year Treasury yield has soared to 4.08% from around 3.7% over the past month. The dollar index, which tracks the U.S. currency's performance against the euro, Japanese yen and others, is up nearly 3% over the past month.
Persons: Gold, Andrew Brenner, Tim Hayes, Ned Davis, Hayes Organizations: Federal Reserve, U.S, NatAlliance Securities, Ned, Ned Davis Research, Treasury Locations: NatAlliance
Gold reached reached a new-all time high on Friday, topping $2,700 for the first time. Geopolitical tensions have been a driving force behind gold's record-setting rally in 2024. AdvertisementGold hit another record high amid simmering geopolitical unease in the Middle East. Futures climbed as much as 1% to $2,720 an ounce on Friday as the death of Hamas leader Yahya Sinwar late Thursday spurred renewed concerns of further geopolitical tension. According to analysts at ING, gold investors were responding to Israel's pledge to continue fighting, rather than de-escalate, per President Joe Biden's recommendation.
Persons: Gold, , Yahya Sinwar, Joe Biden's, They've, Israel, Benjamin Netanyahu, Joe Biden, Alex Kutsikevich, there's Organizations: Service, ING, Traders, Reuters, UN Locations: Iran, Asia
Former President Donald Trump declared he was "the father of IVF" during a Fox News town hall that aired Wednesday, while also saying he just recently discovered what the decades-old procedure actually is. When told he was getting a question on in-vitro fertilization, Trump said, "Oh, I want to talk about IVF. "And I said, explain IVF, very IVF, very quickly. Harris told reporters on Wednesday that Trump's "father of IVF" claim was "quite bizarre." The person considered the real "father of IVF" is Robert Edwards, a British physiologist who spent almost two decades developing the procedure.
Persons: Donald Trump, Trump, Roe, Wade, Sen, Katie Britt, She’s, Britt, we're, Kay Ivey, Ann Scheidler, Kamala Harris, who's, ” “, Rand Paul, , ” Paul, Trump's, Karoline Leavitt, Harris, Robert Edwards Organizations: Fox News, Alabama Supreme, Republican Party, Alabama Legislature, Republican, Democrats, Republican Gov, U.S, Supreme, Action, Politico, Trump, NBC News, Locations: Alabama, , British
LONDON — Liam Payne's family paid tribute to the pop star following his death after falling from a hotel balcony in Argentina Wednesday. Staff inside the hotel where Liam Payne died after falling from a third floor balcony in Buenos Aires on Wednesday. Since the news of Payne's death, One Direction fans have gathered at the Casa Sur Palermo Hotel in Buenos Aires to pay tribute to Payne and sing some of the group's songs. Fans mourn outside Casa Sur Hotel hours after former One Direction star Liam Payne, 31, died on Wednesday. Tobias Skarlovnik / Getty ImagesAsked on X whether he had seen the news about Payne's death, he replied: "I have it's very sad."
Persons: Liam Payne's, Liam, Payne, Liam Payne, Luciano Gonzalez, Simon Cowell, Rebecca Ferguson, hadn't, Ferguson, Liam Gallagher, Tobias Skarlovnik Organizations: Press Association, Staff, Wednesday, Anadolu, Getty, Syco Records, U.S, Billboard, Casa Sur Palermo, Casa Sur Locations: Argentina, London, Buenos Aires, British, Casa
Traders and central banks should increase exposure to gold, Bank of America says. The analysts see gold hitting $3,000 an ounce by the end of next year, implying 11% upside. AdvertisementGold is increasingly attractive as other traditional "safe haven" assets face mounting risks, Bank of America strategists said. "Gold looks to be the last 'safe haven' asset standing, incentivising traders including central banks to increase exposure," the strategists said in a Wednesday note. The Bank of America analysts note that gold now makes up 10% of central bank reserves, up from 3% a decade ago.
Persons: Organizations: Bank of America, Service, International Monetary Fund, US Treasury, Investors, Federal Reserve
CNN —Humanity has thrown the global water cycle off balance “for the first time in human history,” fueling a growing water disaster that will wreak havoc on economies, food production and lives, according to a landmark new report. The water cycle refers to the complex system by which water moves around the Earth. “For the first time in human history, we are pushing the global water cycle out of balance,” said Johan Rockström, co-chair of the Global Commission on the Economics of Water and a report author. “Precipitation, the source of all freshwater, can no longer be relied upon.”Graphic showing the movement of "green water" and "blue water" in the global water cycle. The report’s authors say world governments must recognize the water cycle as a “common good” and address it collectively.
Persons: , Johan Rockström, Bruno Kelly, Richard Allan, Allan, Robyn Beck, Ngozi Organizations: CNN, Global Commission, Water, Nations, Rio, Reading University ,, Getty, World Trade Organization Locations: Manaus, Brazil, Reading University , England, kilter, Huron , California, AFP
One more thing Southern California is known for: earthquakes. While the San Andreas is the most famous, scientists know it’s not the only fault that can produce a powerful earthquake in Southern California. Residents clean up in the Van Nuys neighborhood following the 1994 Northridge earthquake in Los Angeles on January 17, 1994. Many newcomers have no idea the havoc a big earthquake can wreak, including young Angelinos who grew up in Southern California‘s quiet times. “We need to be prepared, because we could have an earthquake that’s pretty big at any time,” Husker said.
Persons: there’s, , Kate Scharer, Andreas, it’s, Robert de Groot, Vinnie Zuffante, Angelinos, They’ve, ” Allen Husker, “ There’s, Husker, Clarence Wayne Dean, Douglas C, ” Scharer, Scharer, Don’t, , de Groot, ” Husker Organizations: Los Angeles CNN, Pasadena, United States Geological Survey, Geological Survey, California Institute of Technology, Southern California Seismic, CNN, Los Angeles Police, Disease Locations: Hollywood, Southern California, Los Angeles, Malibu, San Gabriel, Sierra, Van Nuys, Los Angeles County, Southern, California, California , Oregon, Washington
Five bays equipped with self-serve kiosks provide entry and exit to the building's automated parking garage. Automated parking is a growing trend in high-end real estate where buildings from New York to Miami now come equipped with kiosks, car lifts and car-parking robots. One of five car lifts inside the automated parking system. The AGVs are essentially free roaming, self-charging, robo-parkers that use vision systems, lifts and lasers to precisely park and retrieve cars. An AGV prepares to park a Ferrari inside the Brickell House's automated parking system.
Persons: Ginger Monteleone, Monteleone, ParkPlus, Peter Manis, Manis, Billionaire Palmer Luckey, Luckey, Palmer Organizations: Brickell House, CNBC, Grand View Research, ParkPlus, Brickell, Ferrari, VR, Anduril Industries, Anduril Industries CNBC Locations: Miami, New York, Manhattan, North America, Brickell, ParkPlus Florida, Newport Beach , California
His mother, Bao Bao, was born a celebrity at the National Zoo in 2013 and returned to China four years later. His grandparents, Meixiang and Tian Tian, lived at the zoo for 23 years until their lease ended last year. It went offline last November, when Mei Xiang, Tian Tian and their youngest cub Xiao Qi Ji left for China. And for the first time in 23 years, the giant panda exhibit at the National Zoo had become empty. “Our team and legions of fans look forward to welcoming Bao Li and Qing Bao to the Smithsonian’s National Zoo.”
Persons: Bao Li, Qing Bao, China’s, Bao Bao, Meixiang, Tian Tian, Tom Booth, , Mariel Lally, Lally, Bao Li’s, they’re, ” Lally, doesn’t, “ She’s, Richard Nixon’s, Pat Nixon, Weeks, Ling Ling, Hsing Hsing, Cam, Mei Xiang, Xiao Qi Ji, Evelio Contreras, Qing, Ren Zhijun, Bao, Jin Tao, Brandie Smith, ” Smith, Organizations: DC CNN, FedEx, Panda, Washington Dulles Airport, Dulles International, National Zoo, CNN, US, Beijing Zoo, China's National Forestry and Grassland Administration, Washington, Smithsonian, Washington DC Locations: Washington, China, Beijing, China’s, Sichuan, Dujiangyan, Communist China
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