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☆ Warren Buffett on what to do during price swings — 'Volatility is a huge plus to the real investor'
▼ + stars: | 2023-10-07 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

A blowout September jobs report , surging bond yields and expectations for higher interest rates that last a while stoked big price swings in the stock market lately, leaving investors on edge. But in the stock market you get it," Buffett said at Berkshire's shareholder meeting in 1997 . "If you're an investor, you love the idea of wild swings because it means more things are going to get mispriced...Volatility is a huge plus to the real investor." 'Gambling mentality' Buffett's recent purchase of a big chunk of Occidental Petroleum is an example of taking advantage of market volatility. "We'd make a lot more money if volatility was higher, because it would create more mistakes in the market," Buffett once said.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Benjamin Graham, Graham, Charlie, we've Organizations: Berkshire, CNBC, Oracle, Columbia University, Occidental Petroleum Locations: Omaha, Berkshire, America

☆ Organic? Free range? What do food labels actually mean?
▼ + stars: | 2023-10-07 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +8 min

New York CNN —Navigating the grocery aisle is overwhelming, especially when trying to make sense of food labels. Shoppers who want to know where their food comes from, or how long it will last, have to work even harder. Government agencies have strict guidelines for food safety and nutrition labels on packaged foods. But other information like sell-by dates or animal welfare labels are less regulated — and some are effectively meaningless. Here’s how to know what you’re looking at when you’re reading food labels.

Persons: Scott Olson, “, ”, “ FSIS, Dena Jones, Jones Organizations: New, New York CNN, Nutrition, Shoppers, Government, USDA, ” Companies, Safety, USDA’s Agricultural Research Service, Animal Welfare Institute, Global Animal Partnership Locations: New York, Chicago

☆ On a former cotton plantation in Louisiana, a Black farmers' cooperative is reclaiming the land and money their ancestors lost
▼ + stars: | 2023-10-07 | by ( Trisha Gopal | ) www.businessinsider.com time to read: +11 min

Between 1910 and 1997, Black farmers lost around 90% of their property in the US. In 1920, there were nearly 1 million Black farmers in the United States, accounting for 14% of all farmers. But between 1910 and 1997, Black farmers lost around 90% of their property, while white farmers only lost 2% during the same time period. She hopes to create a platform that addresses economic and racial equity for Black farmers, while also encouraging sustainable agriculture. In the 19th century, after the Southern Farmers' Alliance refused to admit Black farmers except in certain chapters, Black farmers started the Colored Farmers' National Alliance and Co-operative Union.

Persons: Konda Mason, Mason, I've, Mason's, collard, she's, Robert Bimba, Erica Styger, Elisabeth Keller, Keller's, Donna Isaacs, Caryl Levine, Levine, Justice Rice, Rice, Jim Crow, Linda Jones Organizations: Service, Jubilee Justice, Lotus Foods, Justice, US Department of Agriculture, USDA, Agriculture, Southern Farmers ' Alliance, Colored Farmers ' National Alliance and, Union Locations: Alabama, California, Louisiana, Inglewood, Alexandria, New York, Asia, Africa, United States, Mason, Ecuadorian

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The S&P 500 (.SPX) eyes its fifth straight weekly fall, while the Dow (.DJI) is on track to decline for the third straight week. Energy (.SPNY) is set to be worst hit amongst the major S&P 500 sectors this week, while communications services (.SPLRCL) is on track to be the best performing. Looking ahead, data would take center stage once again with September consumer price inflation and producer price index readings due next week. ET, Dow e-minis were up 74 points, or 0.22%, S&P 500 e-minis were up 10.25 points, or 0.24%, and Nasdaq 100 e-minis were up 43.5 points, or 0.29%.

Persons: Brendan McDermid, Levi Strauss, Tesla, that's, Marios Hadjikyriacos, LEVI.N, Ankika Biswas, Shashwat Chauhan, Anil D'Silva, Shounak Organizations: New York Stock Exchange, REUTERS, Exxon, Dow, Nasdaq, Labor, XM, Traders, Energy, Federal, JPMorgan Chase, Citigroup, BlackRock, Dow e, Tesla, Exxon Mobil, Reuters, Natural Resources, Thomson Locations: New York City, U.S, Wells Fargo, United States, Bengaluru

[1/2] Dollar banknotes are seen under Euro saving money box in this picture illustration taken February 16, 2017. The European common currency was last down 0.16% at $1.0533, a touch above Tuesday's 10-month low of $1.0448 but still set for a further weekly decline of 0.2% making that streak the longest since its launch in 1999. The dollar's recent strength has been underpinned by a rapid sell-off in U.S. government bonds, which sent yields to multi-year highs. "The pause in the bond sell-off is granting some room for recovery for most currencies against the dollar. The Australian dollar was steady at $0.6364, but set for a 1% weekly decline.

Persons: Dado Ruvic, Francesco Pesole, Vishnu Varathan, Rae Wee, Alun John, Shri Navaratnam Organizations: REUTERS, Rights, ING, Bank of Japan, Ministry of Finance, Mizuho Bank, Swiss, Thomson Locations: Rights SINGAPORE, LONDON, U.S, United States, Singapore, London, Lincoln

☆ Morning Bid: A welcome calm, but keep your umbrella handy
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +2 min

A general view shows the trading floor at the stock exchange in Frankfurt, Germany October 2, 2017. Reuters GraphicsToday, U.S. yields have found a place to rest at 4.72%, the yen is sitting comfortably around 148.50, and Brent is building a floor above $84. APAC stocks are firm, including a welcome 1.8% rally in Hong Kong that paints a rosier backdrop for the mainland market's return from a weeklong holiday on Monday. If sentiment holds in Asia, European stocks can hope to build on yesterday's rebound from March lows. BOJ actions also run counter to the government's desire to put a floor under the yen.

Persons: Kai Pfaffenbach, Kevin Buckland, Brent, Muralikumar Organizations: REUTERS, Reuters Graphics Today, of, Thomson Locations: Frankfurt, Germany, U.S, Hong Kong, Asia, Tokyo

☆ Between a Rock and a ‘Hard’ Insurance Market
▼ + stars: | 2023-10-06 | by ( Lydia Depillis | ) www.nytimes.com time to read: 1 min

The hardening is evident to anyone who has shopped for personal vehicle insurance, which rose 17 percent in the first six months of this year, according to Insurify.com. Even more problematic is when coverage thins out, as it has in areas hit hard by climate change. Farmers Insurance stopped renewing almost a third of its policies in hurricane-weary Florida this summer and State Farm and Allstate largely pulled out of wildfire-ravaged California.

Organizations: Farmers Insurance, Farm, Allstate Locations: Florida, California

☆ Bird Flu Infects Commercial US Poultry Flock for First Time Since April
▼ + stars: | 2023-10-06 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

CHICAGO (Reuters) - The U.S. has detected its first case of avian flu on a commercial poultry farm since April, in a flock of 47,300 turkeys in Jerauld County, South Dakota, the U.S. Department of Agriculture (USDA) said. Infected flocks are culled to prevent the spread of the virus, potentially tightening the poultry meat and egg supply if more cases occur. Wild birds like ducks transmit the virus. Prior to this week's outbreak, U.S. infections were limited to live bird markets and "non-poultry" birds since April, USDA records show. The last commercial farms infected in April raised turkeys in South Dakota and North Dakota, records show.

Persons: Tom Polansek, Bill Berkrot Organizations: CHICAGO, U.S, U.S . Department of Agriculture, USDA, Farmers, Maine Foods Locations: Jerauld County, South Dakota, Cal, Maine, U.S, North Dakota

☆ Gold pauses declines as investors hold breath for U.S. payrolls report
▼ + stars: | 2023-10-06 | 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. Spot gold rose 0.2% to $1,823.59 per ounce by 0335 GMT, but was on track to extend losses to a second consecutive week, shedding 1.3% so far. Markets await the release of U.S. non-farm payrolls data at 1230 GMT, following a string of jobs indicators released this week. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings hit the lowest levels since August 2019 on Thursday. Prices for platinum-group metals could remain depressed, CEO of the world's biggest platinum miner by value, Anglo American Platinum, told Reuters.

Persons: Ilya Spivak, Spivak Organizations: U.S ., Benchmark, Federal, Treasury, Trust, Reuters Locations: Mendrisio, Switzerland, U.S, American

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The S&P 500 (.SPX) eyed its fifth straight weekly fall, while the Dow (.DJI) is on track to decline for the third straight week. Most major S&P 500 sectors were trading lower on Friday, with utilities (.SPLRCU), often considered a bond proxy, down 1.8%, while rate-sensitive real-estate (.SPLRCR) fell 1.2%. Energy (.SPNY) is set to be worst hit amongst the major S&P 500 sectors this week, while communications services (.SPLRCL) is on track to be the best performing. EV maker Tesla (TSLA.O) fell 2.2% after cutting prices of its Model 3 and Model Y vehicles in the United States.

Persons: Brendan McDermid, Tesla, Neil Birrell, advancers, Ankika Biswas, Shashwat Chauhan, Anil D'Silva, Shounak Organizations: New York Stock Exchange, REUTERS, Companies, Exxon, Dow, Nasdaq, Federal Reserve, Labor, Premier Miton, Treasury, Nvidia, Traders, Energy, JPMorgan Chase, Citigroup, BlackRock, Dow Jones, Tesla, Exxon Mobil, Reuters, Natural Resources, NYSE, Thomson Locations: New York City, U.S, Wells Fargo, United States, Bengaluru

☆ Public spats, layoffs, and new offers: The UAW strike is heating up in week 3
▼ + stars: | 2023-10-06 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

GM, Ford, and some suppliers are resorting to layoffs. AdvertisementAdvertisementThe ripple effects of the UAW's unprecedented strike at Ford, GM, and Stellantis are getting wider as the work stoppages stretch through a third week. The UAW responded on X, formerly known as Twitter, saying that the CEO had not attended bargaining that week. The impact of lost production is also affecting suppliers now, with the vehicle-suppliers association MEMA reporting about a third of suppliers have issued layoffs due to the UAW strike. Fain is scheduled to address UAW members in a livestream Friday afternoon, a platform he's previously used to expand the strike when he's unhappy with the pace of negotiations.

Persons: Shawn Fain, —, Jim Farley, Mary Barra, Fain, Barra, Farley, Ford, axel, Stellantis, he's Organizations: Detroit, UAW, GM, Ford, Service Locations: Chicago, Lansing , Michigan, Detroit, Michigan, Parma , Ohio

Spot gold was up 0.6% at $1,831.09 per ounce by 1:41 p.m. EDT (1741 GMT) but on track for its second straight weekly loss, down 0.9% so far. Reuters GraphicsBenchmark Treasury yields headed for a weekly increase, denting the appeal of gold. The bounce in gold prices despite the strong jobs data indicates that selling pressure has been exhausted and there is covering of short positions, said Tai Wong, a New York-based independent metals trader. Spot silver gained 3.1% to $21.54 an ounce, platinum rose 2.6% to $876.73 and palladium firmed 1.8% to $1,161.72. All were on track for weekly losses.

Persons: サマリー, Tai Wong, Ole Hansen, Hansen, Ashitha Shivaprasad, Brijesh Patel, Rod Nickel, Kirsten Donovan 私たち Organizations: Graphics, U.S . Labor, Traders, Saxo Bank Locations: U.S, New York, Bengaluru

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. "The worst week for crude since March is starting to attract buyers given the oil market will still remain tight over the short-term," Moya said. "We think that once markets start paying attention to falling global oil stockpiles, Brent oil futures will likely creep back up above $US90/bbl," the Commonwealth Bank of Australia said in a note on Friday. U.S. government data this week showed a sharp decline in U.S. gasoline demand, with economic data showing the U.S. services sector had slowed. "The non-farm payroll data tonight, the US CPI, and China's economic data next week will be key to steering oil's movements.

Persons: Agustin Marcarian, Brent, Bond, Edward Moya, Moya, Tina Teng, Sudarshan Varadhan, Sonali Paul, Stephen Coates Organizations: REUTERS, Rights, U.S, West Texas, JPMorgan, National Australia Bank, Commonwealth Bank of Australia, CPI, CMC Markets, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Rights SINGAPORE, U.S, United States

KANSAS CITY, Mo. (AP) — Travis Kelce has long prided himself on his ability to compartmentalize his personal life and his professional life. Ever since the All-Pro tight end's budding relationship with pop superstar Taylor Swift surfaced shortly before the Kansas City Chiefs' game against the Chicago Bears last month, Kelce has become an A-list headline-maker in his own right. Asked whether Kelce was surprised by the sudden interest in him, and his relationship with Swift, he replied: “It’s worldwide, man — worldwide. It’s been magnified for sure.”All the while, Kelce has been trying to help the Chiefs defend their Super Bowl title.

Persons: — Travis Kelce, Taylor Swift, Kelce, ” Kelce, You've, Kelce didn't, Swift, Donna Kelce, Jason Kelce, “, They've, ”, he's, Patrick Mahomes, Klay Thompson, Stephen Curry, “ I've, I've Organizations: KANSAS CITY, Kansas City Chiefs, Chicago Bears, Chiefs, Jets, Philadelphia Eagles, Farm, Hy, Vee, Pfizer, Experian, AMC Entertainment Holdings, NFL, Super, “, Lions, Pro Bowl, AFC West Locations: KANSAS, Mo, New York, Kansas City, ”, Detroit, Minnesota

☆ Further Fed rate hike comes into view as job growth soars
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

An employee hiring sign with a QR code is seen in a window of a business in Arlington, Virginia, U.S., April 7, 2023. Implied yields on contracts tied to the Fed policy rate pointed to a nearly 50% chance the Fed will lift the benchmark short-term borrowing rate a quarter of a percentage point to the 5.50%-5.75% range at its December meeting. Before the jobs report, traders had given a quarter-point rate hike then about a 34% chance. The report, expected to show non-farm payrolls increased by 170,000 in September but in fact showing employers added 336,000 jobs, also had traders paring bets on Fed rate cuts next year. Futures contracts now price in a Fed policy rate of 4.69% at the end of next year, up from the 4.59% seen before the report.

Persons: Elizabeth Frantz, Tim Ghriskey, Ingalls & Snyder, Ann Saphir, Sinead Carew, Lucia Mutikani, Chizu, Christina Fincher Organizations: REUTERS, Federal Reserve, Ingalls &, Thomson Locations: Arlington , Virginia, U.S

☆ Morning Bid: Oil soothes but jobs dictate
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +5 min

U.S. crude oil has recoiled almost 9% this week and prices have lost almost 14% peak-to-trough since last Thursday's high above $95 per barrel. The year-on-year oil price is now falling again and tracking losses of 5%. Copper prices fell to their lowest of the year on Thursday and core commodity indexes are back at August levels. All of which sees U.S. bond yields retain an uneasy calm into the jobs numbers. Implied rates from Fed futures markets pulled back the chances of another hike in the cycle to less than 50%.

Persons: Andrew Kelly, Mike Dolan, Mary Daly, Kevin McCarthy, Donald Trump, Jim Jordan, Janet Yellen's, Christopher Waller, Toby Chopra Organizations: REUTERS, ADP, San Francisco Fed, Treasury, St, International Monetary Fund, World Bank, Tesla, Exxon Mobil, Natural Resources, Federal Reserve, Challenger, Thomson, Reuters Locations: Manhattan , New York City, U.S, Morocco, Canada

"It's pretty evident that the jobs market and the consumer are doing OK. Claims are still very, very low," he said. If claims are up to mid-250,000 by year's end, "that's a fairly obvious sign that there's a loosening of the labor market." "The question everyone's asking is: can yields continue to rise further and at what point are yields going to cause some serious damage on the economy?" The dollar index fell 0.234%, with the euro up 0.25% at $1.0529. All 11 sectors of the S&P index were in the red, with the big megacap growth stocks leading the decline.

Persons: Brendan McDermid, Wall, Mike Sanders, Baylee Wakefield, Brent, Dennis Kissler, Elizabeth Howcroft, Elaine Hardcastle, Sharon Singleton, Richard Chang Organizations: New York Stock Exchange, REUTERS, Madison Investments, Labor Department, Reuters, Aviva Investors, Treasury, Bank of Japan, Analysts, Bank of, Dow Jones, Nasdaq, BOK, Thomson Locations: New York City, U.S, Madison , Wisconsin, Bank of Japan

REUTERS/Staff/File Photo Acquire Licensing RightsLONDON, Oct 5 (Reuters) - European stocks rose on Thursday, after a plunge in oil prices and softer U.S. labour data late on Wednesday helped bring U.S. Treasury yields back down from 16-year highs. European government bond yields were mixed, with the benchmark 10-year German yield up 2 basis points at 2.921% . "The question everyone’s asking is: can yields continue to rise further and at what point are yields going to cause some serious damage on the economy?” said Baylee Wakefield, a portfolio manager at Aviva Investors. ING FX analysts cautioned in a client note that markets may be putting too much weight on Wednesday's private payrolls data. In currencies, the U.S. dollar index was down 0.1% at 106.530 , off a peak earlier in the week of 107.34.

Persons: ”, Baylee Wakefield, Elizabeth Howcroft, Elaine Hardcastle, Sharon Singleton Organizations: REUTERS, Staff, Wednesday, Treasury, U.S . Federal Reserve, Nasdaq, Aviva Investors, Analysts, ING, U.S, Bank of, U.S ., Thomson Locations: Frankfurt, Germany, U.S, Bank of Japan, Japan

Although longer-dated U.S. Treasury yields eased from 16-year highs on Wednesday, investors remain concerned that the elevated levels may pressure equities. Worries about U.S. government spending and its ballooning budget deficit have added to uncertainty around the interest rates trajectory, contributing to a steep selloff that have caused a rout in Treasury prices and a spike in yields. The S&P 500 and the tech-heavy Nasdaq lost around 5% and 6% last month as yields spiked. Traders put the chance of interest rates remaining unchanged in November and December at 80% and 63%, respectively, according to CME's FedWatch tool. ET, Dow e-minis were down 92 points, or 0.28%, S&P 500 e-minis were down 10.5 points, or 0.24%, and Nasdaq 100 e-minis were down 27.75 points, or 0.19%.

Persons: Brendan McDermid, Janet Mui, Loretta Mester, Neel Kashkari, Richmond's Thomas Barkin, Mary Daly, Michael Barr, Kevin McCarthy, Steve Scalise, Jim Jordan, Joe Biden, VinFast, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Treasury, RBC Brewin, Apple, Traders, Dow e, Federal, Democratic, Rivian, EV, Chevron, Exxon Mobil, Occidental Petroleum, Thomson Locations: New York City, U.S, Minneapolis, Bengaluru

☆ Florida’s Tough New Immigration Law Pushes Farms to Hire More Guest Workers
▼ + stars: | 2023-10-05 | by ( Arian Campo-Flores | Alicia A. Caldwell | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/us-news/florida-already-the-top-employer-of-farm-guest-workers-becomes-more-reliant-on-them-b0cbc9f1

Persons: Dow Jones Locations: florida

☆ Yen gets reprieve as dollar dented by private payrolls report
▼ + stars: | 2023-10-05 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. Having come off its nearly 11-month high, the dollar index , which tracks the greenback against six peers, held near overnight levels, settling at around 106.55. Longer dated U.S. Treasury yields eased from 16-year highs after the data and remained lower in the Asian day. Besides the lower U.S. Treasury yields, the yen also drew support from an overnight drop in oil prices, said Kyle Rodda, markets analyst at Capital.com, though he added that it was likely to be a "short-term reprieve." The Australian dollar fetched $0.63655 , up over 0.6%, while the kiwi was up around 0.5% to $0.59445 against the greenback.

Persons: Florence Lo, Moh Siong Sim, Shunichi Suzuki, Kyle Rodda, Rodda, Brigid Riley, Gerry Doyle, Simon Cameron, Moore Organizations: U.S, REUTERS, Rights, Treasury, Federal Reserve, ADP, Bank of Singapore, Bank of, Japan, Finance, Japanese Finance Ministry, Sterling, Australian, greenback Locations: U.S, Bank of Japan, Tokyo, OPEC

☆ Yen gets some relief as dollar pulls back after private payrolls report
▼ + stars: | 2023-10-05 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The dollar index , which tracks the greenback against six peers, held near overnight levels at 106.53. Longer dated U.S. Treasury yields eased from 16-year highs after the data and remained lower in the Asian morning. Elsewhere, the euro was up 0.18% so far in Asia at $1.0524 , keeping above this week's fresh low of $1.0448. The Australian dollar fetched $0.6361 , up over 0.5% in early trade, while the kiwi similarly ticked up 0.5% to $0.5943 against the greenback.

Persons: Florence Lo, Moh Siong Sim, Shunichi Suzuki, Kyle Rodda, Sterling, Brigid Riley, Gerry Doyle, Simon Cameron, Moore Organizations: U.S, REUTERS, Rights, Treasury, Federal Reserve, ADP, Bank of Singapore, Bank of, Japan, Finance, Australian, greenback, Thomson Locations: U.S, Bank of Japan, Tokyo, Asia

☆ Asian shares come off 11-month lows as Treasuries rally
▼ + stars: | 2023-10-05 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

REUTERS/Issei Kato/File Photo Acquire Licensing RightsSYDNEY, Oct 5 (Reuters) - Asian shares rebounded from 11-month lows on Thursday as a plunge in oil prices and softer U.S. labour data helped pull Treasury yields off 16-year peaks, although a looming U.S. payrolls report could make or break the rally. Tracking overnight gains on Wall Street, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.6%. Ten-year yields eased 2 basis points to 4.7163% on Thursday, continuing their overnight retreat from a fresh 16-year high of 4.8840%. "Given where Treasury yields are at the moment, I think the risks are pretty evenly balanced between them on the downside and on the upside." Brent crude futures rose 0.3% to $86.10 per barrel and U.S. West Texas Intermediate crude futures were also up 0.3% at $84.45.

Persons: Issei Kato, Stephen Miller, Joseph Capurso, Stella Qiu, Edwina Gibbs Organizations: Nikkei, REUTERS, Rights, Japan's Nikkei, Treasury, Fed, U.S ., Nasdaq, Traders, CBA, Brent, . West Texas, Thomson Locations: Tokyo, Japan, U.S, Asia, Pacific, Treasuries, Sydney

Oct 6 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. A batch of data from Japan includes household spending and consumption figures, leading indicators, and the latest foreign exchange reserves. But Bank of Japan money market data indicates that the yen's jump on Tuesday was not the product of yen-buying intervention. The big policy event in Asia will be the Reserve Bank of India's interest rate decision, and more importantly, its guidance. The rupee goes into the meeting trading at 83.00 per dollar, right down at August's record low 83.45 per dollar.

Persons: Jamie McGeever, payrolls Organizations: Bank, Reserve Bank, U.S, Thomson, Reuters Locations: Japan, Asia, U.S, India

☆ Gold set to break longest losing streak in 7 years as bond selloff cools
▼ + stars: | 2023-10-05 | by ( ) www.cnbc.com time to read: +2 min

Gold edged higher on Thursday, set to end its eight-session-long losing streak, last seen around the same time in 2016, as U.S. bond yields and the dollar retreated from recent highs ahead of a keenly awaited non-farm payrolls report this week. Spot gold rose 0.3% to $1,826.49 per ounce by 0314 GMT, attempting a rebound from its weakest levels since March touched on Tuesday. Benchmark U.S. 10-year bond yields fell from 16-year highs on Thursday and the U.S. dollar was 0.2% lower, allaying some pressure on non-yielding gold. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.5% to 869.31 metric tons on Wednesday, its lowest since August 2019. The subdued dollar also buoyed other greenback-priced precious metals, with spot silver up 1.1% to $21.19 per ounce, having slipped to its lowest since mid-March this week.

Persons: Yeap Jun Rong Organizations: U.S ., U.S, CPI, Labor, Wednesday, Benchmark, Trust Locations: ., U.S

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