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☆ Gold rallies to record high on U.S. rate-cut optimism
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: +2 min

One kilogram gold bars are displayed for a photograph at the YLG Bullion International headquarters in Thailand on January 13, 2016. Gold prices soared to an all-time high on Friday as the dollar weakened amid prospects of a U.S. interest rate cut next week, while palladium has gained 15% so far this week. Spot gold was up 0.2% at $2,565 per ounce, as of 0258 GMT, after hitting a record high of $2,567.93 earlier in the session. The dollar fell to a one-week low, making gold less expensive for other currency holders. Palladium climbed 0.16% to $1,048.06 and was headed for the best week since Dec. 11, 2023, fueled by export curb concerns.

Persons: Bullion, Tim Waterer, Vladimir Putin Organizations: KCM, Monetary Fund, Fed, West Locations: Thailand, U.S, Moscow

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☆ Gold inches higher as investors eye U.S. data for rate cues
▼ + stars: | 2024-09-12 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged higher on Thursday, with traders focusing on the upcoming U.S. economic data that may offer further insights into an expected reduction in the Federal Reserve's interest rate next week. Gold prices edged higher on Thursday, with traders focusing on the upcoming U.S. economic data that may offer further insights into an expected reduction in the Federal Reserve's interest rate next week. Data on Wednesday showed that U.S. consumer prices rose marginally in August, but underlying inflation showed some stickiness, which could discourage the Federal Reserve from delivering a half-point interest rate cut next week. CPI data showed no major inflation spikes, which is supporting gold prices to hold above $2,500 and suggesting no immediate changes to Fed policy, Wong added. Palladium climbed 1.3% to $1,021.84, its highest since July 8, following comments on export regulations from Russian President Vladimir Putin.

Persons: Kelvin Wong, OANDA's, Price, Wong, Vladimir Putin, Putin Organizations: Asia Pacific, Traders, U.S, PPI, Reserve, West Locations: U.S, Moscow

☆ Gold prices holds steady with U.S. CPI data on radar
▼ + stars: | 2024-09-11 | by ( ) www.cnbc.com time to read: +2 min

Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold prices steadied on Wednesday, as investors keenly awaited the U.S. inflation data for hints on the size of the Federal Reserve's potential interest rate cut next week. The U.S. Consumer Price Index data is due at 1230 GMT, while the Producer Price Index reading and initial jobless claims are due on Thursday. The Fed will lower interest rates by 25 basis points at each of the three remaining policy meetings in 2024, according to a majority of economists in a Reuters poll. Zero-yield bullion tends to be a preferred investment amid lower interest rates and geopolitical turmoil.

Persons: Matt Simpson, Price, Jerome Powell's, Peter Fung, Yoav Gallant Organizations: Aurum, Federal, Index, U.S, Consumer, Metals Locations: Gaza, Lebanon

☆ Trafigura chief economist discusses the outlook on EV-related metals
▼ + stars: | 2024-09-10 | 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 EmailTrafigura chief economist discusses the outlook on EV-related metalsSaad Rahim from Trafigura discusses the outlook for lithium, platinum, cobalt and nickel.

Persons: Saad Rahim, Trafigura

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☆ Kendrick Lamar will headline Super Bowl halftime show
▼ + stars: | 2024-09-08 | by ( Rohan Nadkarni | Rohan Nadkarni Is A Sports Reporter For Nbc News. | ) www.nbcnews.com time to read: +1 min

Rapper Kendrick Lamar will headline the Super Bowl halftime show in New Orleans, the NFL announced Sunday. Follow along for live coverage of Week 1Roc Nation and Jesse Collins, an Emmy-winning producer, will be co-executive producers of the Apple Music halftime show. “Kendrick Lamar is truly a once-in-a-generation artist and performer,” Roc Nation founder Jay-Z said in a statement. Super Bowl 59 will take place on Feb. 9. Lamar previously performed at the 2022 Super Bowl in Los Angeles alongside several other rappers and hip-hop stars in a West Coast-themed show.

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☆ The organizers of a January 6 awards gala claim Trump's song with riot defendants' prison choir 'went Platinum.' It didn't.
▼ + stars: | 2024-09-05 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

Read previewIf the indefinitely postponed J6 Awards Gala ever happens, one very special attendee will be in for a treat. Advertisement"Released on March 3, 2023, this song quickly went Platinum, thanks to your unwavering support," the website says. The RIAA website that catalogs gold and platinum-certified songs does not include any music from Donald Trump nor from the J6 Prison Choir. The J6 Awards Gala promises to auction off a plaque commemorating the "Platinum status" of Donald Trump's musical single. It isn't clear if Ronald McAbee is a member of the J6 Prison Choir.

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☆ Trump lawyers are set to argue in court this week that the hit '80s song 'Electric Avenue' wasn't properly copyrighted
▼ + stars: | 2024-09-02 | by ( Laura Italiano | ) www.businessinsider.com time to read: +7 min

Trump's lawyers are expected to argue that, for decades, Grant somehow neglected to copyright the sound recording, or "master," for "Electric Avenue." Trump's lawyers acknowledge that Grant copyrighted the sheet music 40 years ago. Trump's side may argue that even Grant has tacitly acknowledged that the sound-recording copyright for "Electric Avenue" was never properly nailed down. Two weeks ago, on August 15, Grant applied to the US Copyright Office "for a sound-recording copyright registration of Electric Avenue," a court filing says. AdvertisementAnd Grant has been deposed by Trump's lawyers, who asked the artist to "explain" the song.

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☆ Working for Doordash and Grubhub increasingly feels like a 9-5. And that may be bad news for the companies.
▼ + stars: | 2024-08-24 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

Read previewOn weekends, a gig delivery worker in Utah takes out his phone and opens one of three apps to make some extra money as an independent contractor. However, the people doing the work say that things like performance metrics often eat into that flexibility. "It doesn't feel much like I'm on contract," the Utah gig worker told Business Insider. But metrics such as this are just one aspect of delivery gig work that workers say feels like a traditional job. Related storiesFor example, one Chicago delivery worker told BI that he avoids Grubhub due to the app's scheduling feature.

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☆ I spend $1,300 a year on credit-card fees to get big travel perks. Here are ones I swear by and which I won't pay for again.
▼ + stars: | 2024-08-22 | by ( Jamie Davis Smith | ) www.businessinsider.com time to read: +6 min

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☆ Gold prices inch lower as U.S. inflation data looms
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged lower on Wednesday as investors remained on the sidelines ahead of a key U.S. inflation print later in the day that could set the tone for the Federal Reserve's September policy meeting. Gold prices edged lower on Wednesday as investors remained on the sidelines ahead of a key U.S. inflation print later in the day that could set the tone for the Federal Reserve's September policy meeting. Data on Tuesday showed that U.S. producer prices increased less than expected in July, reinforcing market view that cooling inflation will allow the Federal Reserve to cut interest rates soon. Atlanta Fed President Raphael Bostic said he wants to see "a little more data" before he's ready to support lowering interest rates. Gold, often used as a hedge against geopolitical risks, thrives when interest rates are low.

Persons: Kyle Rodda, Raphael Bostic, Ismail Haniyeh Organizations: Federal, Fed, Federal Reserve, Traders, Atlanta Fed, Investors Locations: U.S, Iran, Gaza, Israel

☆ Gold dips as investors book profits, U.S. inflation data in focus
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: +2 min

Prices rose more than 1% in the previous session. "Prices will benefit if the U.S. inflation data comes in on the softer side of the ledger, which would reignite hopes of an aggressive rate cut from the Fed in September." The CPI data is expected to show that headline and core prices rose 0.2% month-on-month. Markets see about 50% chance of a 50 basis point rate cut in September, according to the CME FedWatch Tool. "If markets become more optimistic of a 50 bp cut coming to fruition, this could propel the gold price to make a run at the $2,500 level," Waterer said.

Persons: Alexander Manzyuk Gold, Tim Waterer, Waterer, Benjamin Netanyahu Organizations: REUTERS, Federal, KCM, Fed, Traders Locations: Siberian, Krasnoyarsk, Russia, U.S, Gaza

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☆ Gold subdued as investors focus on U.S. inflation data
▼ + stars: | 2024-08-12 | by ( ) www.cnbc.com time to read: +1 min

Gold prices struggled for momentum on Monday as investors looked forward to a key inflation report that could shed more light on the U.S. central bank's next policy move. Spot gold eased 0.13% to $2,427.86 per ounce by 0352 GMT, trading in a narrow $10 price range. The U.S. consumer price index data, due on Wednesday, is expected to show that headline and core prices rose 0.2% month-on-month. "Further inflation progress reflected in the upcoming CPI data could see gold eye for a retest of its all-time high once more," said IG market strategist Yeap Jun Rong. Among other metals, spot silver fell 0.3% to $27.36 per ounce, platinum shed 0.47% to $917.83 and palladium fell 0.2% to $903.48.

Persons: Ilya Spivak, Yeap Jun Rong, Michelle Bowman Organizations: Metals, U.S, Federal, Hamas Locations: Krasnoyarsk, Russia, bank's, U.S, Gaza

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☆ Gold rises more than 1% on safe-haven demand, Fed rate-cut optimism
▼ + stars: | 2024-08-08 | by ( ) www.cnbc.com time to read: +2 min

Prices of safe-haven gold edged higher on Thursday, supported by Middle East tensions and optimism surrounding U.S. rate cuts, while traders awaited economic data for clues on the Federal Reserve's policy trajectory. Gold prices rose more than 1% on Thursday, supported by firm safe-haven demand and growing expectations for a sizeable interest rate cut from the U.S. Federal Reserve in September. Spot gold rose 1.27% to settle at $2,463.3. Brokerages including J.P.Morgan, Citigroup and Wells Fargo have forecast a 50-basis-point interest rate cut by the Fed in September after last week's U.S. jobs data. Gold prices fell as much as 3% on Monday, caught in a global sell-off driven by fears of a U.S. recession.

Persons: Alex Ebkarian, Bullion Organizations: Federal, U.S . Federal Reserve, J.P.Morgan, Citigroup, Fed Locations: Iran, Israel, Wells, U.S

☆ Gold buoyed by Fed rate-cut hopes, geopolitical concerns
▼ + stars: | 2024-08-07 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices firmed on Wednesday on mounting bets of U.S. interest rate cuts in September and rising geopolitical tensions in the Middle East, with markets awaiting U.S. economic data for clues on the Federal Reserve's interest rate path. Spot gold rose 0.4% to $2,399.38 per ounce, as of 11:29 a.m. Bullion is considered a hedge against geopolitical and economic uncertainties and tends to thrive in a low interest rate environment. Meanwhile, China's central bank held back on buying gold for its reserves for a third straight month in July, official data showed on Wednesday.

Persons: Everett Millman, Bart Melek, they're, Millman Organizations: Co, Gainesville, TD Securities Locations: Bangkok, Thailand, U.S, Israel, China's, China

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☆ Gold nudges higher on mounting U.S. rate cut bets
▼ + stars: | 2024-08-06 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices edged higher on Tuesday after comments from Federal Reserve officials reinforced expectations of bigger U.S. interest rate cuts later this year. Spot gold was up 0.1% to $2,408.77 per ounce as of 0354 GMT. Fed San Francisco President Mary Daly said her mind was open to cutting interest rates as necessary and policy needed to be proactive. Meanwhile, Japanese stocks opened higher, underpinning a recovery across battered Asian share markets and even triggering circuit breakers in some.

Persons: Mary Daly, Soni Kumari Organizations: Co, Federal Reserve, San, ANZ, Traders Locations: Bangkok, Thailand, U.S, San Francisco, China

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☆ Safe-haven gold firms on U.S. recession fears, rate-cut bets
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: +2 min

Two Argor-Heraeus SA 250 gram gold bars at Solar Capital Gold Zrt. Gold prices drifted higher on Monday, aided by worries that the United States could be headed for a recession and rising bets that the Federal Reserve will likely need to start cutting interest rates aggressively. Spot gold rose 0.14% to $2,446.83 per ounce, as of 0519 GMT, after falling 1% earlier in the session. "Gold is picking up safe-haven flows, with financial markets in a risk-averse mindset to start the week," said Tim Waterer, chief market analyst at KCM Trade. Share markets tumbled and bonds rallied in Asia as U.S. recession fears sent investors rushing from risk assets.

Persons: Tim Waterer, Thomas Barkin Organizations: Heraeus, Solar, Federal Reserve, KCM, Richmond Fed, P Global, Pentagon Locations: Budapest, Hungary, United States, Asia, U.S, Iran

☆ Gold prices set for weekly gain with U.S. payrolls data on tap
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: +2 min

Gold prices firmed on Friday and were set for a weekly gain, driven by prospects of a Fed rate cut in September and rising tensions in the Middle East, while market participants awaited U.S. nonfarm payrolls data for further direction. Gold prices firmed on Friday and were set for a weekly gain, driven by prospects of a Fed rate cut in September and rising tensions in the Middle East, while market participants awaited U.S. nonfarm payrolls data for further direction. Spot gold was up 0.2% at $2,451.07 per ounce, as of 0243 GMT, and has gained more than 2% for the week. Trader bets for a super-sized 50-basis-point rate cut in September jumped to 28.5% from 11.8% earlier this week, according to the CME Group's FedWatch tool. "Angst surrounding U.S. elections and the conflict in the Middle East will play an assisting role in moving gold higher on a sustained basis," analysts at TD Securities said in a note.

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