Gold holds near 1-week low as Powell sticks to hawkish narrative
(Reuters) – Gold steadied on Wednesday after shedding nearly 2% in the previous session on an elevated dollar, with demand for the non-yielding asset blunted by Federal Reserve Chair Jerome Powell signalling more rate hikes.FILE PHOTO: An employee casts ingots of 99.99 percent pure gold during production at Krastsvetmet precious metals plant in the Siberian […]
Powell to speak in Congress – markets are mixed on expectations
U.S. Federal Reserve Chair Jerome Powell testifies before a Senate Banking, Housing, and Urban Affairs Committee on Capitol Hill on March 3, 2022.Pool | Getty Images News | Getty ImagesThis report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to […]
Stock market today: Live updates
The Dow rose slightly Monday, as Wall Street fought to hold onto last week’s gains and investors braced for a busy week of economic news.The Dow Jones Industrial Average gained 40.47 points, or 0.12%, to settle at 33,431.44. The S&P 500 added 0.07% to end at 4,048.42, while the Nasdaq Composite dipped 0.11% to close […]
‘Dr Doom’: World headed for dark times in the next 20 years | Business and Economy
From: The Bottom LineEconomist Nouriel Roubini paints a bleak future for a world facing ‘megathreats’ – including global economic meltdowns.In a world faced with threats and challenges, many cynical politicians would rather kick the can down the road – and win votes – than make the tough decisions needed now. At the same time, billions […]
Softer dollar sets gold on track for best week since mid-January
(Reuters) – Gold prices climbed to their highest in more than two weeks on Friday and were on track for their biggest weekly rise since mid-January, supported by a softer dollar as investors gauged the U.S. central bank’s policy path.FILE PHOTO: Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious […]
Sleepwalking Toward Accidental Conflict by Stephen S. Roach
The argument minimizing the risk of a war between major powers – that today’s globalized, interconnected world has too much at stake to risk a seismic unraveling – is painfully familiar. It is the same argument that was made in the early twentieth century, when the first wave of globalization was at its peak. NEW […]
Gold loses steam as dollar turns higher, rate worries persist
(Reuters) – Gold prices were set to break a three-session winning run on Thursday, weighed down by a firmer dollar and as bullion’s outlook remains clouded by prospects of further interest rate hikes from the U.S. Federal Reserve.FILE PHOTO: 50g gold ingots are pictured after being minted at the plant of refiner and bar manufacturer […]
Amid stubborn inflation, 60% of Americans live paycheck to paycheck
Despite higher prices, consumers are still spending, although not as much as they were a year ago, which is giving their budgets some breathing room.As of January, 60% of all U.S. adults, including 45% of high-income earners, were living paycheck to paycheck, according to a new LendingClub report. That’s down from 64% a year earlier, suggesting […]
The Great Game Reloaded: Superpowers In The Modern World
Top foreign policy officials from the United States and China spent most of the last weekend at the Munich Security Conference stressing that their governments were not seeking a new Cold War, but amid tense rhetoric and accusations, a chill across much of the world is already being felt.Finding Perspective: The Munich gathering is Europe’s premier […]
Gold gains as dollar rally cools, but rate-hike fears linger
(Reuters) – Gold prices ticked up on Monday on a pullback in the dollar, although worries around further interest rate hikes from the U.S. Federal Reserve kept bullion near a two-month low.FILE PHOTO: Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, […]