Metals News
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Billions of dollars of gold is smuggled out of Africa every year, with the vast majority exported to the United Arab Emirates for processing, according to a report by SwissAid. Using data on declared and undeclared gold imports over a 10-year period ending in 2022, the Bern-based non-governmental organization estimates that the illicit trade amounts to ...
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He thinks Staten Island is treasure island. At 6 a.m. this past Saturday, David Hager, 58, and wife Michelle, 51, and two sons, Tyler and Ryan, 21 and 17, started digging in a small park in the forgotten borough. Hager, who lives in Colorado, believes he has correctly deciphered clues pinpointing buried booty on Staten Island from Byron Preiss’s 1982 book ...
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Inflation and wages are kind of a chicken or egg issue. Do higher prices cause higher wages or do higher wages cause higher prices? I suppose it’s probably a little of both. There is an obvious relationship when you look at the data. Here’s a look at year-over-year wage growth versus trailing twelve-month inflation going back to 1965: chart Wages grow ...
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post: FED’S LOGAN: POLICY MAY NOT BE AS RESTRICTIVE AS WE MIGHT THINK post: DALLAS FED’S LOGAN: GOOD REASONS TO THINK WE’RE STILL ON PATH TO 2% INFLATION, BUT BUMPY FED’S LOGAN: TOO SOON TO THINK ABOUT RATE CUTS post: FED’S LOGAN: GOOD REASONS TO BELIEVE NEUTRAL RATE IS HIGHER NOW THAN BEFORE PANDEMIC post: FED’S LOGAN: IF NEUTRAL RATE IS HIGHER THAN BEFORE, IT SUGGESTS RATES WON’T GO BACK DOWN TO PRE-PANDEMIC LEVELS
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Poor data from China. Manufacturing PMI 49.5 and back into contraction expected 50.5, prior 50.4 Services 51.1, missing estimates and falling below April's result. Still in expansion though. expected 51.5, prior 51.2 China has two primary Purchasing Managers' Index (PMI) surveys - the official PMI released by the National Bureau of Statistics (NBS) and the ...
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The US economy grew at a slower pace in the first quarter than initially reported, primarily reflecting softer consumer spending on goods. Gross domestic product rose 1.3% ...
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Inflation is taking baby steps towards coming back to where policymakers want it, with a report due Friday expected to show more of that creeping progress. The Commerce ...
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Tomorrow’s update on US inflation for April looks set to tick lower, although the odds aren’t trivial that pricing pressure will remains sticky, according to various forecasts and ...
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Real gross domestic product (GDP) increased at an annual rate of 1.3 percent in the first quarter of 2024 (table 1), according to the "second" estimate released by the Bureau of ...
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post: DONALD TRUMP FOUND GUILTY ON ALL 34 COUNTS HE FACED AT HUSH MONEY CRIMINAL TRIAL -JURY VERDICTJury reaches verdict in Donald Trump's hush money case The jury has reached a verdict in the historic criminal case against former President Donald Trump. The verdict in the first criminal case against a former president will be read shortly in the New York City courtroom where Trump has been on trial since April 15. “We the jury have a verdict. We would like an extra 30 minutes to fill out the forms if that’d be possible,” the jury's 4:20 p.m. note said, which was read aloud in court by Judge Juan Merchan. The jury deliberated for about 9.5 hours. Trump was in the courtroom awaiting the verdict, sitting with his arms crossed. Trump was charged with 34 counts of falsifying business records related to a hush money payment to adult film star Stormy Daniels in the final weeks of the 2016 presidential election. He pleaded not guilty. post: BREAKING: Donald Trump to be sentenced on July 11
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I’m honored to be here today among so many Economic Club of New York members, fellows, students, and staff. The Club has the privilege of hosting incredible speakers, but it’s our members who truly create the robust, dynamic environment for our discussions. Thank you for being part of this wonderful organization. As I look ahead to the end of my term as Club chair, I’d like to thank my predecessor in this role, Marie-Josée Kravis; our board members; our tireless President and CEO, Barbara Van Allen; and the small yet remarkably productive staff of the Club. When I began my term as chair back in June of 2020, the ECNY was strong and vibrant, all thanks to their vision, commitment, and hard work. At the same time, 2020 was a period of tremendous uncertainty for the ECNY. After all, our hallmark was in-person events. With the onset of the pandemic, we needed to reinvent what it meant to be the ECNY in very short order. We all quickly came together and innovated to an incredible degree so that we could reach our members in new ways. Zoom became our meeting room, and we later found success in hybrid events. We launched new programs, including a series focused on Diversity, Equity, and Inclusion, the Innovation and Social Impact Challenge, and the podcast. And we did it while maintaining the financial strength of the Club. post: FED’S WILLIAMS: RECENTLY THERE’S BEEN DEARTH OF PROGRESS ON LOWERING INFLATION FED’S WILLIAMS: INFLATION STILL TOO HIGH, BUT SHOULD MODERATE OVER SECOND HALF OF 2024 FED’S WILLIAMS: FED POLICY WELL POSITIONED TO GET INFLATION BACK TO 2% TARGET post: FED’S WILLIAMS: INFLATION EXPECTATIONS DATA HAVE BEEN STABLE FED’S WILLIAMS: EXPECTS INFLATION AT 2.5% THIS YEAR, ‘CLOSER’ TO 2% NEXT YEAR FED’S WILLIAMS: EXPECTS ECONOMY TO GROWTH 2%-2.5% THIS YEAR FED’S WILLIAMS: EXPECTS UNEMPLOYMENT AT 4% BY YEAR END post: FED’S WILLIAMS:ECONOMY IS DOING REALLY WELL FED’S WILLIAMS: MONPOL’S CLEARLY WORKING HOW FED WANTS IT WORK FED’S WILLIAMS: DOESN’T KNOW WHEN FED WILL CHANGE MONPOL post: FED'S WILLIAMS: AT SOME POINT, INTEREST RATES WILL NEED TO COME DOWN.
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Gold prices were down by 0.3 percent in the intraday session on Thursday, as the market positioned itself for the release of key US economic data. XAUUSD traded at $2,336 per ounce at the spot market, and touched an intra-day low of $2,322.66, the lowest point in two weeks. The downward momentum is likely to persist, as yields on US treasury bonds return to ...
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Gold has been under selling pressure for the past two days, falling near $2323 an ounce today, Thursday, continuing its decline amid rising US Treasury yields and demand for the US dollar driven by hawkish comments from Fed officials. On Wednesday, Atlanta Fed President Bostic said the path to 2% inflation is not guaranteed and the range of price gains ...
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