Metals News
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A jeweller was charged in court on Tuesday (May 7) for failing to perform customer due diligence as part of anti-money laundering measures. Kim Heng Jewellers and Goldsmiths, located at People's Park Complex in Chinatown, allegedly committed the offence on three occasions between September and October last year, when it handled gold transactions worth more ...
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Afghanistan’s top diplomat in India resigned days after she was reportedly caught by airport authorities smuggling nearly $2 million worth of gold into the country. Zakia Wardak, the Afghan Consul-General in India’s financial capital Mumbai, posted a statement on social media platform X announcing her resignation. Afghanistan’s embassy in New Delhi shut ...
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When it comes to Contracts for Difference (CFDs), one of the most common questions among traders is how long do you hold a CFD? Unlike some financial instruments, CFDs do not have a fixed expiry date and therefore traders can use different trading strategies at their will. Nevertheless, the period that you keep a derivative will affect both your trading ...
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Bank of Japan Governor Ueda: • Don't see yen moves as having a big impact on trend inflation so far but there is risk impact could become more significant in the future. • Don't see yen moves as having a big impact on trend inflation so far but there is risk impact could become significant in the future. • BOJ won't necessarily wait until inflation achieves ...
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China's economy is poised for a steady rebound throughout this year, underpinned by consumption-led recovery, a robust foundation laid in the first quarter and the gradual stabilization of the property sector, experts said. While the broader economy is still facing pressures from still-weak domestic demand and mounting uncertainties both at home and abroad, ...
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post: PBOC SETS YUAN MID-POINT AT 7.1016 / DLR VS LAST CLOSE 7.2181PBOC sets USD/ CNY mid-point today at 7.1016 (vs. estimate at 7.2202) The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. • USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate. • CNH is the offshore yuan. USD /CNH has no restrictions on its trading range. • A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC. The previous close was 7.2181. PBOC injects 2bn via 7-day RR, sets rate at an unchanged 1.8%.
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Jerome Powell is struggling to shed his label as the lowest-rated US Federal Reserve chairman in nearly a quarter century, as inflation persists and high prices irritate US ...
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China's economy is poised for a steady rebound throughout this year, underpinned by consumption-led recovery, a robust foundation laid in the first quarter and the gradual ...
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In 2023, Bruce Springsteen kicked off a year-long U.S. tour. However, after a concert at the Meadowlands in New Jersey in September, he had to cut the tour short due to a health ...
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post: FED'S KASHKARI: TOO SOON TO DECLARE WE ARE STALLED OUT ON INFLATION. post: FED'S KASHKARI: IF WE NEED TO HOLD RATES FOR AN EXTENDED PERIOD, OR RAISE RATES, WE WILL DO THAT. post: FED'S KASHKARI: INFLATION WHERE IT IS NOW IS NOT THE NEW NORMAL; THE FED WILL ACHIEVE 2% INFLATION post: KASHKARI: RATE CUT THIS YEAR IS STILL A POSSIBILITY
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Bank of Japan Governor Ueda: • Don't see yen moves as having a big impact on trend inflation so far but there is risk impact could become more significant in the future. • Don't ...
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Over the past few years, I have published a series of essays assessing where we are in our inflation fight and highlighting some important questions policymakers are facing. My most recent essay was in February of this year, where I questioned how much monetary policy was actually restraining demand. This essay is an update to that commentary, and I now examine the current stance of monetary policy in more detail.1 I will argue that the Federal Open Market Committee (FOMC) has tightened policy significantly, compared with prior cycles, both in absolute terms and relative to the market’s understanding of neutral. But I will also observe that the housing market is proving more resilient to that tight policy than it generally has in the past. Given that housing is a key channel through which monetary policy affects the economy, its resilience raises questions about whether policymakers and the market are misperceiving neutral, at least in the near term. It is possible that once the reopening dynamics of the post-COVID economy have concluded, the macro forces that drove the low-rate environment that existed before the pandemic will reemerge, pulling neutral back down. But the FOMC must set policy based on where neutral is in the short run to achieve our dual mandate goals in a reasonable period of time. The uncertainty about where neutral is today creates a challenge for policymakers. post: FED'S KASHKARI: HOUSING MARKET IS PROVING MORE RESILIENT TO TIGHT MONETARY POLICY THAN IT HAS BEEN IN THE PAST post: FED'S KASHKARI: IT IS POSSIBLE THAT HOUSING MARKET RESILIENCE MEANS THE NEUTRAL RATE HAS BEEN PUSHED HIGHER, AT LEAST IN THE SHORT TERM. post: FED'S KASHKARI: I QUESTION POLICY RESTRICTIVENESS, GIVEN THE INFLATION DATA. post: KASHKARI: FED MUST SET POLICY BASED ON SHORT-RUN NEUTRAL RATE
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Gold remains stuck in consolidation and has been trending sideways for the five days. Consolidation is occurring just below resistance represented by the purple 20-Day MA, currently at 2,330, and the 38.2% Fibonacci retracement at 2,322. The 38.2% price zone previously represented support and now resistance. Further, gold remains under a bear flag that ...
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Gold’s price appears to have stabilized in the past week, with it potentially receiving some safe-haven inflows since the beginning of the week, following the most recent developments in the Middle East. Today we are to discuss the fundamental challenges laid ahead for the precious metal as well as financial releases that may have affected the direction of ...
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CME Group, the world's leading derivatives marketplace, today reported its April 2024 market statistics set a new average daily volume (ADV) record of 26.5 million contracts for the month, up 33% from April 2023, with double-digit growth across all asset classes. Additionally, interest rate, equity index, foreign exchange and options products set new April ...