Metals News
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A California city removed the traffic lights from a four-way intersection as the city grapples with thefts attributed to a massive homeless encampment nearby. Oakland has been experiencing high crime and theft, including people stealing copper wires and the city’s infrastructure, according to locals who spoke to CBS News. The city attempted to thwart ...
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Armed robbers who used a motorbike as a battering ram made off with “several million euros’” (dollars) worth of valuables in a heist of the luxury Paris boutique of self-declared “Jeweler to the Stars” Harry Winston, the French prosecutor’s office overseeing the police probe said. Having refused Saturday to confirm that Harry Winston was the target, the ...
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In our team meetings, we often discuss the shifting sands of the market. Not only is it an interesting topic, but it poses a challenge for asset allocators. We are in the midst of a multi-year outperformance cycle for large-cap growth. The companies that have driven this outperformance have all become household names: Alphabet, Amazon, Apple, Meta, ...
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The time it’s taking for some of China’s electric-car makers to pay suppliers is ballooning — a further sign of stress in the nation’s increasingly cutthroat auto market. Nio Inc. was taking around 295 days to clear its receipts payable, the vast majority of which are owed to suppliers, at the end of 2023 versus 197 days in 2021, according to the most ...
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London equities kicked off the week on a positive note, helped by a rally among metal miners and defence stocks, while investors await comments from the Bank of England for hints on the central bank’s interest rate trajectory. The blue-chip FTSE 100 shook off its recent slump, climbing 0.3%, and breaking free from the two back-to-back sessions of losses. ...
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Government debt that has swelled nearly 50% since the early days of the Covid pandemic is generating elevated levels of worry both on Wall Street and in Washington. The federal ...
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China has hinted at possible tit-for-tat action against trade barriers imposed by the United States last week, as relations between the two economic superpowers become ...
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Despite market expectations, both the Fed and the RBA have recently revealed a cautious approach to further rate rises. There were four key factors that influenced this decision, ...
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Iranian President Ebrahim Raisi and his foreign minister died when their helicopter crashed as it was crossing mountain terrain in heavy fog, an Iranian official told Reuters on ...
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A helicopter carrying Iranian President Ebrahim Raisi suffered a “hard landing” on Sunday, Iranian state media reported, without elaborating. Some began urging the public to pray ...
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Thank you, Mark, for the kind introduction, and good morning to all of you.1 I am happy to be here. Today, I will do three things. First, I'll share with you my current outlook for the US economy. Second, I'll discuss my thinking on the current stance of monetary policy. Third, I'll review the dynamics of housing prices which can feed into the persistence of inflation. My focus on housing price dynamic stems from the role housing plays in the American economy. For most families, a home is their largest-ever purchase and their most valuable asset. Capital markets professionals in real estate finance, like you, are crucial to the smooth operation of the housing sector. Families making housing decisions rely on a healthy and productive housing finance sector. The housing sector is also one of the most interest rate–sensitive sectors of the economy. As such, it's an important channel of monetary policy transmission. Understanding the various channels of monetary transmission is crucial to fulfillment of the dual mandate given to the Federal Reserve by the Congress: maximum employment and stable prices. This mandate guides my thinking about monetary policymaking. With that, I'll turn to my outlook for the US economy. Aggregate Economic Activity The U.S. economy continues to grow at a solid pace. Adjusted for inflation, GDP was reported to have increased at a 1.6 percent annual rate in the first quarter of 2024. That was a moderation from a 3.4 percent expansion in the fourth quarter of last year. However, private domestic final purchases—which excludes inventory investment, government spending, and net exports and usually sends a clearer signal on underlying demand—grew 3.1 percent in the first quarter. That was about as strong as the second half of 2023. post: Fed's Jefferson: Policy Rate is in Restrictive Territory Jefferson: April’s Better Inflation Reading is Encouraging Jefferson: Long-Term Inflation Expectations Show Americans Believe Fed Will Make Good on 2% Inflation Goal
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The big rally on precious metals have continued at the start of the new week, with silver yet again outperforming. Both metals eased off their highs amid profit-taking and were back to the flat line around midday in London. Still, the white metal is up a good 35% so far in 2024, compared to 18% for gold. Silver’s breakout last week means the metal may have ...
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Gold prices skyrocketed to another fresh high of 2,450 earlier in the day, currently holding above the previous peak of 2,431.48. This movement may be a sign of further increases during the next couple of days, with the technical oscillators suggesting more gains in the market. The MACD is strengthening its positive momentum above its trigger and zero ...
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Gold prices hit an all-time high of $2,448.80/oz. on April 12, 2024, on the back of hotter-than-expected NFP, sticky inflation and rising geopolitical risk. These factors attracted inflow of funds as shown by increasing managed money long positions to around two-year high. Despite the pullback towards the end of the month as profit-taking and U.S. dollar ...