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Gold shines on rising Fed rate-cut outlook
  + stars: | 2024-07-18 | by ( ) www.cnbc.com   time to read: +2 min
Spot gold rose 0.1% to $2,461.27 per ounce, as of 0218 GMT. Fed Governor Christopher Waller and New York Fed President John Williams both noted the shortening horizon toward looser monetary policy. Separately, Richmond Fed President Thomas Barkin said he is "very encouraged" on broadening declines in inflation. "Over the next 6-12 months, regardless of who wins the (U.S.) election, we see gold rising to $2700-$3000 and silver to $38," Citi Research said. Spot silver rose 0.2% to $30.35, platinum steadied at $994.81 and palladium gained 0.4% to $955.77.
Persons: Ryan McIntyre, Christopher Waller, John Williams, Thomas Barkin, CME's Organizations: Sprott Asset Management, Holdings, New York Fed, Richmond Fed, Federal, Citi Research, Investors, U.S Locations: U.S, ., China
Just consider this image, captured recently by satellite, of surface temperatures across Phoenix. On the city’s desert fringes, in territory governed by Native American nations, the land was even hotter, 150 degrees or more. Surface temperatures are just one of many factors that cities are thinking about as they try to protect residents from extreme heat, said Ladd Keith, an associate professor in the School of Landscape Architecture and Planning at the University of Arizona. Sacramento July 11, 2024 LAND SURFACE TEMPERATURES 120˚F 130˚F 140˚F 150˚F Sacramento July 11, 2024 LAND SURFACE TEMPERATURES 120˚F 130˚F 140˚F 150˚F Sacramento July 11, 2024 LAND SURFACE TEMPERATURES 120˚F 130˚F 140˚F 150˚F Sacramento, Calif. July 11, 2024 LAND SURFACE TEMPERATURES 120˚F 130˚F 140˚F 150˚FCitrus Heights AIRPORT North Highlands AIRPORT Aden-Arcade Rancho Cordova Sacramento AIRPORT AIRPORT Florin 2 miles Citrus Heights AIRPORT North Highlands AIRPORT Rancho Cordova Sacramento AIRPORT AIRPORT 2 miles AIRPORT Citrus Heights North Highlands AIRPORT Rancho Cordova Sacramento AIRPORT AIRPORT 2 miles Florin AIRPORT Citrus Heights AIRPORT Rancho Cordova Sacramento AIRPORT AIRPORT 2 miles AIRPORT AIRPORT Sacramento AIRPORT AIRPORT 2 miles Sacramento 2 miles Sacramento 2 miles Sources: U.S.G.S. In Portland, Ore., tree-filled areas like Forest Park, on the city’s west side, provided oases of cool last week.
Persons: Kevin Foster, Ladd Keith, Keith, ” Dr, , Victoria Vasquez, Vasquez, Vivek Shandas, Shandas, Organizations: U.S . Cities, Phoenix, Arizona Burn, of Landscape Architecture, University of Arizona, Sacramento, Arcade, Cordova Sacramento, AIRPORT Florin, Sacramento AIRPORT, Florin, AIRPORT, United States Forest Service, Park, Park Gresham, Portland State University Locations: U.S, Phoenix, MCDOWELL YAVAPAI, MARICOPA, Glendale, FORT MCDOWELL YAVAPAI, Maricopa County, Sacramento, Calif, Citrus, Aden, Citrus Heights, California, Portland, Ore, Vancouver, Wash, Park Portland, Gresham, Powell, Park Lake Oswego, Park Gresham Portland, Beaverton Lake Oswego, Gresham Beaverton, Oswego Vancouver, Gresham Beaverton Lake Oswego, Forest Park Portland, Multnomah County, Oregon, Washington
Gold eases after hitting fresh record
  + stars: | 2024-07-17 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com   time to read: +2 min
One kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices extended their rise to a fresh all-time high on Wednesday, as growing optimism for an interest-rate cut from the U.S. Federal Reserve in September and a weaker dollar boosted demand. Spot gold eased about 0.2% to $2,462.85 per ounce, driven by profit-taking, after the bullion hit a high of $2,482.29 earlier in the session. Markets now see a 98% chance of a U.S. rate cut in September, according to the CME FedWatch Tool. Lower interest rates decrease the opportunity cost of holding non-yielding bullion and weigh on the dollar, making gold cheaper for investors holding other currencies.
Persons: David Meger, Christopher Waller Organizations: Co, U.S . Federal Reserve, High, Fed Locations: Bangkok, Thailand, U.S
Ray Dalio believes gold deserves a significant portion of one's portfolio, saying the precious metal is still appealing even at record highs. @GC.1 YTD mountain Gold futures "If you were neutral, gold is an under-owned, relatively attractive asset right near its highs in the market," he said. Lower rates typically benefit the non-interest bearing precious metal. Gold futures advanced 1.5% to $2,465.30, topping the previous high of $2,454.20 reached May 20. The futures rose as high as $2,467.30 an ounce on the session.
Persons: Ray Dalio, Dalio Organizations: Bridgewater Associates
Gold drifts higher as U.S. rate cut optimism boosts appeal
  + stars: | 2024-07-16 | by ( ) www.cnbc.com   time to read: +2 min
A five hundred gram gold bar, left, and a a one kilogram gold bar, produced by Swiss manufacturer Argor Hebaeus SA, in Budapest, Hungary. Gold prices nudged higher on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a September rate cut, while investors awaited more U.S. economic data for further monetary policy cues. Spot gold rose 0.1% to $2,423.89 per ounce by 0140 GMT. A rate cut in September is now fully priced in by markets, which may keep sentiments in gold prices well-supported in the lead-up," said IG market strategist Yeap Jun Rong. Investors were awaiting U.S. retail sales data due at 1230 GMT on Tuesday and comments from Fed governors Christopher Waller and Adriana Kugler later this week for further direction.
Persons: Jerome Powell, Powell, Yeap Jun Rong, Christopher Waller, Adriana Kugler, Yeap Organizations: Argor Hebaeus SA, Federal, Investors, Reuters Locations: Swiss, Budapest, Hungary
An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices advanced Tuesday, on track for a record close as rising expectations of a September interest rate cut bolstered demand for bullion. Gold futures advanced 0.6% to $2,443.80. According to UBS, central bank buying of bullion is the highest it's been since the late 1960s. The U.S.-listed shares of Harmony Gold and Gold Fields rose 6% and 4%, respectively.
Persons: Jerome Powell, Joni Teves, Teves, Gold Organizations: Co, Federal, U.S, greenback, UBS, Citi, Miners, Harmony Locations: Bangkok, Thailand, Ukraine, China, U.S
Gold eases, investors seek more cues on Fed's rate path
  + stars: | 2024-07-15 | by ( ) www.cnbc.com   time to read: +2 min
A selection of gold bars and one-ounce gold coins at Gold Investments Ltd. bullion dealers in London, UK, on Tuesday, May 21, 2024. Gold prices dipped on Monday as the dollar held firm, while investors awaited comments from Federal Reserve officials and economic data for further cues on U.S. interest rate trajectory. The dollar rose on safety bids after an attempted assassination of former U.S. President Donald Trump, which raised his odds of winning. Data sets due this week include U.S. retail sales, industrial output for June and weekly jobless claims. "If we get another big miss on retail sales, it will reinforce there is a sense of urgency to cut rates, which could help gold.
Persons: Donald Trump, I'm, Trump, Matt Simpson, Jerome Powell, Ilya Spivak Organizations: Gold Investments, Federal Reserve, Trump, Index Locations: London, Beijing
Costco is a master at building customer loyalty
  + stars: | 2024-07-13 | by ( Grace Dean | ) www.businessinsider.com   time to read: +4 min
Read previewCostco announced this week that it's raising its membership fees — and Reddit users seem indifferent. This story is available exclusively to Business Insider subscribers. Another Redditor wrote that membership prices had only gone up by $10 since they first joined 13 years ago. AdvertisementSuperfan Susan Schwartz previously told Business Insider that the retailer was "inherently modest." AdvertisementCostco also says it will refund membership fees if customers are "dissatisfied."
Persons: , I've, aren't, Susan Schwartz Organizations: Service, Costco, Business, Gold Star
Washington CNN —First lady Dr. Jill Biden will lead the US delegation to the Olympic Games opening ceremony in Paris later this month, the White House announced Friday, cheering on America’s athletes on behalf of the Biden administration. Second gentleman Doug Emhoff will lead the delegation to the closing ceremony on August 11, the White House said in a statement. Biden is also expected to attend some Olympics events during her trip to Paris, a White House official said. Jill Biden remains the president’s closest adviser and fiercest protector, wielding influence in the White House and campaign. Biden previously attended the 2010 Vancouver Winter Olympic Games as then-second lady.
Persons: Jill Biden, Biden, Doug Emhoff, Sen, Tammy Duckworth of, Xavier Becerra Organizations: Washington CNN, Olympic, White, Tammy Duckworth of Illinois, Health, Human Services, Paralympic, USA, Team USA, Games Locations: Paris, Tokyo, Beijing, China
Barnett says the amount of research she and Andrews poured into their relocation project prompted them to start their own travel company, Expatsi, to help other Americans explore their options to move abroad. Launching a travel company for American expatsBarnett and Andrews went back to basics to figure out what city to live in. In March 2024, Barnett and Andrews led a group of 30 Americans around Portugal for 10 days and Spain for 12 on their inaugural Expatsi scouting trip. Americans who dream of moving abroad are getting help from travel companies like Expatsi, which offers scouting trips to international cities. So far, Expatsi travelers have mostly been women ranging in age from 22 to 80 with a cluster around 40 to 65, Barnett says.
Persons: Brett Andrews, Jen Barnett, Barnett, Andrews, expats Barnett, We've, Roe, Wade, Expatsi, Expatsi's, Joe Biden, Donald Trump Organizations: U.S ., U.S, Portugal, CNBC, Google Locations: Alabama, Mexico, Birmingham , Alabama, Canada, Vancouver, U.S, Cigna, Portugal, Spain, France, Italy
Gold eases, but set for weekly gain on Fed rate cut bets
  + stars: | 2024-07-12 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices edged lower on Friday, but were headed for a third straight week of gains as cooler-than-expected U.S. inflation data boosted hopes of the Federal Reserve cutting interest rates in September. Gold prices edged lower on Friday, but were headed for a third straight week of gains as cooler-than-expected U.S. inflation data boosted hopes of the Federal Reserve cutting interest rates in September. "Inflation outlook and interest rate picture have moved in favor of gold this week. As we move closer to a lower interest rate environment, conditions could be ripe for gold to set new record highs before the year is out," said Tim Waterer, KCM Trade's chief market analyst. Lower interest rates reduce the opportunity cost of holding non-yielding bullion.
Persons: Tim Waterer, KCM, Mary Daly, Austan Goolsbee, Waterer Organizations: Federal Reserve, San Francisco Fed Bank, Chicago Fed Bank Locations: U.S
British Columbia is Canada's second-most-visited province for a reason. Johnstone Strait, a glacier-carved channel between mainland British Columbia and Vancouver Island, is especially beautiful — and you might even see a humpback whale in the water if you visit at the right time. One of my favorite experiences on the province's Vancouver Island is kayaking around the shores in the morning. I watched Steller sea lions glide through the water, and a river otter play on a nearby dock. Once you're done with the water, venture along to visit some of the nearby picturesque communities like Telegraph Cove and Hanson Islands.
Organizations: Getty Images Locations: British Columbia, British, Johnstone, Columbia, Vancouver, Hanson, Haddington, Tlowitsis
Gold climbs as traders brace for U.S. inflation data
  + stars: | 2024-07-11 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices firmed for a third consecutive session on Thursday, with investors awaiting U.S. inflation data due later in the day for more insights on the Federal Reserve's interest rate path. Gold prices firmed for a third consecutive session on Thursday, with investors awaiting U.S. inflation data due later in the day for more insights on the Federal Reserve's interest rate path. Any downside surprise in the CPI report could weaken the dollar and push up gold prices to the $2,400 level, said Marex analyst Edward Meir. Fed Chair Jerome Powell said on Wednesday that the U.S. central bank would make interest rate decisions "when and as" they were needed. Spot silver climbed 0.7% to $31.04 per ounce, platinum firmed 0.4% to $993.25 and palladium gained 0.7% to $992.90.
Persons: Edward Meir ., Lisa Cook, Meir, Jerome Powell, Wang Tao Organizations: Index, Traders Locations: U.S
Gold rangebound with spotlight on U.S. inflation reading
  + stars: | 2024-07-10 | by ( ) www.cnbc.com   time to read: +2 min
Gold traded in a narrow price range on Wednesday as investors looked forward to a key U.S. inflation reading that could shed more light on the Federal Reserve's interest rates trajectory. Gold traded in a narrow price range on Wednesday as investors looked forward to a key U.S. inflation reading that could shed more light on the Federal Reserve's interest rates trajectory. Spot gold rose 0.2% to $2,367.79 per ounce by 0229 GMT. Non-yielding bullion's appeal tends to shine when interest rates are lower. That may weigh on gold, which could see prices fall back towards the $2,300 level of support," Yeap said.
Persons: Gold, Jerome Powell, Powell, Yeap Jun Rong, Yeap Organizations: Traders, Global, Gold Locations: U.S, Europe, Asia
Gold eases from May peak on profit taking
  + stars: | 2024-07-08 | by ( ) www.cnbc.com   time to read: +2 min
A view of ingots of 99.99 percent pure gold, which are placed in a workroom, at Novosibirsk Refining Plant, Russia's leading gold refining and bar manufacturing plant, in Novosibirsk, Russia on Sept. 15, 2023. Spot gold fell 0.4% at $2,382.17 per ounce as of 0346 GMT, after rising to its highest level since May 22 on Friday. Traders are also pricing in a rising chance of a second rate cut in December. Elsewhere, top consumer China's central bank refrained from gold purchases to its reserves for a second consecutive month in June. "China may have paused their gold purchases, but it remains in demand overall.
Persons: We're, Kyle Rodda, CME's, Jerome Powell's, Powell, Matt Simpson, bullish, Simpson Organizations: Novosibirsk Refining Plant, Capital.com, Federal, Fed Locations: Novosibirsk, Russia, China
Stephane De Sakutin/AFP/Getty Images Merchandise featuring Beijing mascot Bing Dwen Dwen, the 2022 Winter Olympics mascot, has been extremely popular. MARTIN BERNETTI/AFP/AFP via Getty Images Rio 2016 Olympic mascot Vinicius was selected four years before the Games kicked off. Rudi Blaha/AP Syd the platypus, Millie the echidna and Olly the kookaburra, helped represent the Sydney 2000 Olympic Games. Amicar de Leon/AP The Albertville Olympic Games in 1992 was cheered on by a star-shaped gnome-looking character. International Olympic Committee In pictures: Olympic Mascot History Prev NextTo find a worthy representative, each host country will typically organize a submission call-out or contest.
Persons: snowmen, Aline Lafargue, , Lafargue, Stephane De Sakutin, Bing Dwen Dwen, Lintao Zhang, Maja Hitij, MARTIN BERNETTI, Vinicius, Alex Ferro, Andrej Isakovic, Mo Farah, Adrian Dennis, Jeff Vinnick, Amy Sancetta, Michael Sohn, Rudi Blaha, Syd, Olly, Claro, Eric Draper, Izzy Whatizit, Ross Kinnaird, Michel Euler, Amicar de Leon, Nicolas Le Corre, David Cannon, Sam, Eagle, Tony Duffy, Howdy, Dieter Endlicher, Misha, Armin Weigel, AP Shuss, Iris, , Millie Organizations: CNN, Olympic Games, International Olympic Committee, Grenoble Winter, Getty, Tokyo, Games, Reuters, Sochi, Getty Images Beijing, Winter Games, Sydney, Lillehammer Games, Albertville Olympic, Disney, International Olympic, Moscow's, AP, Dachshund, Olympics, Olympic, International, Sochi Winter Games, Angeles Summer, London Games, Soyuz Locations: France, Paris, AFP, Beijing, Vancouver, Canada, China, Turin, Italy, Athens, Salt Lake, Snowbasin , Utah, Claro Cortes, Japan, EMPICS, Barcelona, Barcelona's Port, South Korea, Sarajevo's Yugoslavia, Calgary , Alberta, Lake Placid, Munich, Innsbruck, Kitzbuhel, Austria, Algonquin, Russia, Sydney, Australia
Gold eyes second straight weekly rise; spotlight on U.S. payrolls
  + stars: | 2024-07-05 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices edged up on Friday and were set for a second straight weekly gain, while traders awaited U.S. employment data to gauge the trajectory of the Federal Reserve's potential interest rate cuts. Gold prices edged up on Friday and were set for a second straight weekly gain, while traders awaited U.S. employment data to gauge the trajectory of the Federal Reserve's potential interest rate cuts. Spot gold rose 0.2% at $2,359.73 per ounce, as of 0204 GMT and was up more than 1% for the week. "Gold has been in consolidation mode above $2,300, which bodes well for potential further price gains once we eventually move towards a lower interest rate environment." Palladium gained 0.4% to $1,021.75 and headed for a third consecutive weekly gain.
Persons: Tim Waterer, KCM, nonfarm, Waterer Organizations: Federal, U.S, Traders, FedWatch
Gold inches up after weak data fuels U.S. rate cut bets
  + stars: | 2024-07-04 | by ( ) www.cnbc.com   time to read: +1 min
Gold prices drifted higher on Thursday after softer-than-expected U.S. economic data fueled hopes that the Federal Reserve could cut interest rates as soon as September. Spot gold was up 0.3% at $2,362.10 per ounce, as of 0200 GMT after hitting a near two-week high in the previous session. U.S. economic data on Wednesday, including a weak services and ADP employment reports, showed a slowing economy. "A softer-than-expected ISM services report was the gift that Fed doves have been waiting for ahead of a NFP. Markets are now pricing in a 74% chance of the Fed cutting interest rates at its September meeting, according to the CME FedWatch Tool.
Persons: Matt Simpson Organizations: Federal, Traders, NFP, U.S Locations: U.S
I had a mom-fail moment when I realized I hadn't registered my 4-year-old son for swimming lessons and summer camp before the cutoff. We had frozen pizza for dinner, and he went to sleep without a fight, tired after a long day of playing outside. AdvertisementThe world looks a lot different now, but I'm planning on bringing this spirit to our summer by subscribing to these philosophies. When I was a kid, it was during those long, boring summer afternoons that I formed my love of reading. Summer feels like the right time to loosen up and approach feeding my kid with a little more ease.
Persons: I'm, didn't, bento, Liz Organizations: Service, Business, Montessori Locations: Canadian, Vancouver
Gold at near 2-week high as soft U.S. data lifts Fed rate-cut bets
  + stars: | 2024-07-03 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices were flat on Wednesday as investors awaited minutes of the Federal Reserve's last policy meeting for fresh cues on when the U.S. central bank will start cutting interest rates. Gold prices rose more than 1% to a near two-week high on Wednesday, driven by increased bets for a September interest rate cut by the Federal Reserve after recent U.S. data suggested that the labor market was softening. "Bulls are trying to get ahead of what many believe will finally be a weak payrolls report on Friday," he added. [USD/The market now sees a 68% chance of the Fed cutting interest rates in September as well as another cut in December. Elsewhere, spot silver rose 3.4% to $30.52 per ounce, platinum gained 1.8% to $1,008.50 and palladium climbed 2.7% to $1,049.
Persons: Tai Wong Organizations: Federal Reserve, Bulls Locations: U.S, New York
Meanwhile, the July 1 holiday to commemorate Canada’s Confederation became official in 1879, and was originally called Dominion Day. The late Queen Elizabeth II, seen here joining the Canada Day celebrations in Ottawa in 1997, visited Canada 22 times during her reign. Some early Dominion Day celebrations featured a ‘Dominion Salute’ of one gun for each province. Cole Burston/Getty ImagesIt wasn’t until 1982 that Dominion Day officially became Canada Day. For more information on the event, visit the official Canada Day website.
Persons: Matthew Hayday, don’t, , Hill, Mark Horton, Forrest, , ’ ”, Queen Elizabeth II, Carlo Allegri, , King, Cole Burston, Hayday Organizations: CNN, Canada, Canadian Forces, Department, Ontario’s Guelph University, Royal Canadian Air Force, Independence, Canada’s, Dominion, British North America, United Province of, , Archives, Toronto Globe, Globe, Ottawa, of Canada, National Capital Locations: Canada, Vancouver, Toronto, Charlottetown, Ottawa, British, United Province, United Province of Canada, Ontario, Quebec, Brunswick, Nova Scotia, Independence, AFP, Canadian, United States, Union, , American, , LeBreton
Gold holds ground as slowing inflation boosts Fed rate-cut bets
  + stars: | 2024-07-01 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices held steady on Monday after data showed U.S. inflation subsided, bolstering hopes that the Federal Reserve will start cutting interest rates this year. Gold prices held steady on Monday after data showed U.S. inflation subsided, bolstering hopes that the Federal Reserve will start cutting interest rates this year. Data showed on Friday that the personal consumption expenditures index, increased 2.6% after advancing 2.7% in April. But, "any failure to defend the $2,280 level ahead may potentially pave the way for gold prices to head towards the $2,200 next". Spot silver dipped 0.2% to $29.06, platinum fell 0.7% to $986.08 and palladium held steady at $972.74.
Persons: Yeap Jun Rong, Jerome Powell Organizations: Federal Reserve, ANZ
Data from flight tracker FlightAware shows WestJet on Sunday had canceled at least 343 flights, constituting 77% of its fleet. The airline’s regional subsidiary, WestJet Encore, has canceled at least 80 flights. At Calgary International Airport, 42% of outbound flights and 40% of inbound flights have been canceled. But in an update to members on Sunday shared with CNN, the union announced the industrial relations board ruled the strike was lawful, as the board continues to mediate negotiations. The industrial relations board has not responded to CNN’s request for comment.
Persons: Canada’s, WestJet’s, , WestJet, Organizations: New, New York CNN, Labor, Aircraft Mechanics Fraternal Association, CNN, Labour, Canada Industrial Relations, Sunday, Calgary International Airport, Toronto Pearson, Edmonton, Locations: New York, WestJet, Canada, Vancouver
Vienna, Austria is the wrold's most "liveable" city, according to the Economist Intelligence Unit's 2024 Global Liveability Index. For the third year in a row, Vienna, the capital of Austria, is the world's most livable city, according to the Economist Intelligence Unit. "Declines in stability and infrastructure across a number of cities in advanced economies were offset by structural improvements in healthcare and education in several cities in developing markets." Here are the 10 most livable cities in the world, according to EIU. North America was the second best region, scoring an average of 90.5 out of 100, and ranking highest for education.
Persons: EIU Organizations: Economist Intelligence, Economist Intelligence Unit, Western Locations: Vienna, Austria, Copenhagen, Denmark, Zurich, Switzerland, EIU, Austria Copenhagen, Denmark Zurich, Switzerland Melbourne, Australia Calgary, Canada Geneva, Switzerland Sydney, Australia Vancouver, Canada Osaka, Japan Auckland, New Zealand, Asia, Pacific, Melbourne, Sydney, Osaka, Japan, Auckland , New Zealand, Vancouver, Toronto, Western Europe, North America, Canada
Total: 25