HOUSTON, Sept 19 (Reuters) - Canadian miner Gold Reserve (GRZ.V), opens new tab said on Thursday it has dropped out of a U.S. court-organized bidding for shares in a parent of Venezuela-owned oil refiner Citgo Petroleum, citing court delays, and uncertainty over the sales proce

HOUSTON, Sept 19 (Reuters) - Canadian miner Gold Reserve (GRZ.V), opens new tab said on Thursday it has dropped out of a U.S. court-organized bidding for shares in a parent of Venezuela-owned oil refiner Citgo Petroleum, citing court delays, and uncertainty over the sales proce

Japan preliminary PMIs, manufacturing slipping deeper into contraction, services improving a little.

Japan preliminary PMIs, manufacturing slipping deeper into contraction, services improving a little.

My News Commodities Gold breaks $2,600 barrier as Fed cut bets prolong historic run By Anushree Ashish Mukherjee September 20, 20247:20 PM GMT+1Updated 4 days ago Production at Krastsvetmet precious metals plant in Krasnoyarsk Employees cast ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. ... Purchase Licensing Rights, opens new tab Read more Summary Companies Gold up 27% so far this year Record prices hit retail demand in India, China Silver up over 1% Sept 20 (Reuters) - Gold soared above the $2,600 level on Friday for the first time, extending a rally boosted by bets for further U.S. interest rate cuts, and rising tensions in the Middle East. Spot gold was up 1.3% at $2,620.63 per ounce by 1:43 p.m. ET (1743 GMT), while U.S. gold futures settled 1.2% higher to $2,646.20. A line chart titled "Spot gold price in USD per oz" that tracks the metric over time. A line chart titled "Spot gold price in USD per oz" that tracks the metric over time. Bullion's latest rally got a fillip after the Federal Reserve initiated an aggressive easing cycle on Wednesday with a half-percentage-point reduction, adding to the appeal for gold, which pays no interest.

My News Commodities Gold breaks $2,600 barrier as Fed cut bets prolong historic run By Anushree Ashish Mukherjee September 20, 20247:20 PM GMT+1Updated 4 days ago Production at Krastsvetmet precious metals plant in Krasnoyarsk Employees cast ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. ... Purchase Licensing Rights, opens new tab Read more Summary Companies Gold up 27% so far this year Record prices hit retail demand in India, China Silver up over 1% Sept 20 (Reuters) - Gold soared above the $2,600 level on Friday for the first time, extending a rally boosted by bets for further U.S. interest rate cuts, and rising tensions in the Middle East. Spot gold was up 1.3% at $2,620.63 per ounce by 1:43 p.m. ET (1743 GMT), while U.S. gold futures settled 1.2% higher to $2,646.20. A line chart titled "Spot gold price in USD per oz" that tracks the metric over time. A line chart titled "Spot gold price in USD per oz" that tracks the metric over time. Bullion's latest rally got a fillip after the Federal Reserve initiated an aggressive easing cycle on Wednesday with a half-percentage-point reduction, adding to the appeal for gold, which pays no interest.

Safe haven demand amid geopolitical uncertainty · Central bank buying · Trading Gold with PXBT Gold prices have been on a tear this year, rising for seven straight months. The precious metal trades 21% higher year to date, reaching a record high of $2531 while outperforming global stocks. The US SP500 is up 16% this year, the Nikkei 225 has booked gains of 10%, and the EuroStoxx 50 has risen 6%. Gold has also outperformed the most major currency pairs. Few markets have risen as fast as Gold so far in 2024.

Safe haven demand amid geopolitical uncertainty · Central bank buying · Trading Gold with PXBT Gold prices have been on a tear this year, rising for seven straight months. The precious metal trades 21% higher year to date, reaching a record high of $2531 while outperforming global stocks. The US SP500 is up 16% this year, the Nikkei 225 has booked gains of 10%, and the EuroStoxx 50 has risen 6%. Gold has also outperformed the most major currency pairs. Few markets have risen as fast as Gold so far in 2024.

Both the Shanghai Composite and CSI 300 indices are up 2.4% on the day while the Hang Seng is up by 3.3% ahead of the lunch break later. That comes as the PBOC unveiled more easing measures earlier, after not doing so at the end of last week. However, the key caveat here is that they did not specify when these changes will go into effect. The central bank said that the RRR will be cut by 50 bps and that the 7-day repo rate will be cut further to 1.50%, down from 1.70%. They also said that other interest rates will fall as well, with rates on existing mortgages to be reduced by 0.50% on average.

Both the Shanghai Composite and CSI 300 indices are up 2.4% on the day while the Hang Seng is up by 3.3% ahead of the lunch break later. That comes as the PBOC unveiled more easing measures earlier, after not doing so at the end of last week. However, the key caveat here is that they did not specify when these changes will go into effect. The central bank said that the RRR will be cut by 50 bps and that the 7-day repo rate will be cut further to 1.50%, down from 1.70%. They also said that other interest rates will fall as well, with rates on existing mortgages to be reduced by 0.50% on average.

Gold stocks hold a valuable place in asset allocation for investors, especially in times of high inflation and economic uncertainty. Investing in gold has its challenges, but one of the best ways to gain exposure to gold is through the S&P Gold Shares ETF (GLD).

Gold stocks hold a valuable place in asset allocation for investors, especially in times of high inflation and economic uncertainty. Investing in gold has its challenges, but one of the best ways to gain exposure to gold is through the S&P Gold Shares ETF (GLD).

The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, posted some losses on Tuesday after the release of the Conference Board’s Consumer Confidence data. In the meantime, Federal Reserve (Fed) officials seem to be trying to push back on the market’s aggressive dovish bets. The US economy exhibits mixed signals with indications of both a slowdown and ongoing resilience. Economic activity appears to be moderating, but some sectors remain strong. The Fed has indicated that the trajectory of its monetary policy will be guided by the evolving economic data, suggesting that the pace of rate adjustments will depend on the incoming information.

The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, posted some losses on Tuesday after the release of the Conference Board’s Consumer Confidence data. In the meantime, Federal Reserve (Fed) officials seem to be trying to push back on the market’s aggressive dovish bets. The US economy exhibits mixed signals with indications of both a slowdown and ongoing resilience. Economic activity appears to be moderating, but some sectors remain strong. The Fed has indicated that the trajectory of its monetary policy will be guided by the evolving economic data, suggesting that the pace of rate adjustments will depend on the incoming information.

PBOC Governor Pan Gongsheng was remarking on the yuan re the Fed rate cut. Fed rate cut eased external pressure on the yuan exchange rate yuan has a relatively solid, stable foundation It was only a few weeks ago that the PBOC was terrified of excessive weakening of the yuan. The Bank managed the currency for many, many months while the USD was soaring to prevent yuan from dropping too fast and triggering capital outflow.

PBOC Governor Pan Gongsheng was remarking on the yuan re the Fed rate cut. Fed rate cut eased external pressure on the yuan exchange rate yuan has a relatively solid, stable foundation It was only a few weeks ago that the PBOC was terrified of excessive weakening of the yuan. The Bank managed the currency for many, many months while the USD was soaring to prevent yuan from dropping too fast and triggering capital outflow.

Sept 20 (Reuters) - Gold hit a record high above $2,600 per ounce on Friday, as the prospect of more U.S. interest rate cuts and global geo-political uncertainty boosted its appeal. Bullion has risen more than 26% so far this year, and as market bulls lock in further gains, another milestone of $3,000 per ounce is in focus. Here are the different avenues for investing in gold: SPOT MARKET Large buyers and institutional investors usually buy gold from big banks. Prices in the spot market are determined by real-time supply and demand dynamics.

Sept 20 (Reuters) - Gold hit a record high above $2,600 per ounce on Friday, as the prospect of more U.S. interest rate cuts and global geo-political uncertainty boosted its appeal. Bullion has risen more than 26% so far this year, and as market bulls lock in further gains, another milestone of $3,000 per ounce is in focus. Here are the different avenues for investing in gold: SPOT MARKET Large buyers and institutional investors usually buy gold from big banks. Prices in the spot market are determined by real-time supply and demand dynamics.

As the North American session begins, the CAD is the strongest and the JPY is the weakest. The USD is mixed to start the day with US stocks marginally higher and yields continuing their run to the upside despite the Fed rate cut of 50 basis points last week to recalibrate rates given the inflation trends. The market is now pricing in a 50/50 chance for 50 basis points in November. The 10-year yield is now up 18 basis points from a September 16 low and working on its 6th straight day higher. Crude oil is higher. Gold is modestly lower after closing at another record level yesterday as tension in the middle east heat up.

As the North American session begins, the CAD is the strongest and the JPY is the weakest. The USD is mixed to start the day with US stocks marginally higher and yields continuing their run to the upside despite the Fed rate cut of 50 basis points last week to recalibrate rates given the inflation trends. The market is now pricing in a 50/50 chance for 50 basis points in November. The 10-year yield is now up 18 basis points from a September 16 low and working on its 6th straight day higher. Crude oil is higher. Gold is modestly lower after closing at another record level yesterday as tension in the middle east heat up.

Sept 19 (Reuters) - Gold prices rose over 1% on Thursday as the U.S. Federal Reserve launched its monetary easing cycle with a half percentage point move, boosting bullion to an all-time high and just a few cents shy of the key $2,600 ceiling in the previous session. Spot gold rose 1.2% to $2,590.47 per ounce by 2:02 p.m. ET (1802 GMT). U.S. gold futures settled 0.6% higher at $2,614.60. Spot prices scaled a record high of $2,599.92 on Wednesday after the Fed lowered the benchmark policy rate by 50 basis points to 4.75%-5.00%.

Sept 19 (Reuters) - Gold prices rose over 1% on Thursday as the U.S. Federal Reserve launched its monetary easing cycle with a half percentage point move, boosting bullion to an all-time high and just a few cents shy of the key $2,600 ceiling in the previous session. Spot gold rose 1.2% to $2,590.47 per ounce by 2:02 p.m. ET (1802 GMT). U.S. gold futures settled 0.6% higher at $2,614.60. Spot prices scaled a record high of $2,599.92 on Wednesday after the Fed lowered the benchmark policy rate by 50 basis points to 4.75%-5.00%.

The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, posted some losses on Tuesday after the release of the Conference Board’s Consumer Confidence data. In the meantime, Federal Reserve (Fed) officials seem to be trying to push back on the market’s aggressive dovish bets. The US economy exhibits mixed signals with indications of both a slowdown and ongoing resilience. Economic activity appears to be moderating, but some sectors remain strong. The Fed has indicated that the trajectory of its monetary policy will be guided by the evolving economic data, suggesting that the pace of rate adjustments will depend on the incoming information.

The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, posted some losses on Tuesday after the release of the Conference Board’s Consumer Confidence data. In the meantime, Federal Reserve (Fed) officials seem to be trying to push back on the market’s aggressive dovish bets. The US economy exhibits mixed signals with indications of both a slowdown and ongoing resilience. Economic activity appears to be moderating, but some sectors remain strong. The Fed has indicated that the trajectory of its monetary policy will be guided by the evolving economic data, suggesting that the pace of rate adjustments will depend on the incoming information.

The most anticipated Fed decision in years occurs on Wednesday. The only real debate is whether it will be a 25bp or 50bp cut. If it’s 50bp, does it mean that inflation is finished, or would it be an indication that something is badly wrong with the economy? Double-click to enlarge. This US rates chart certainly suggests rates have peaked (for now), and the Fed is about to embark on a cutting cycle. Double-click to enlarge this US stock markets chart. The Industrials look ready to rally on a rate cut, and the Transports are starting to look better too.

The most anticipated Fed decision in years occurs on Wednesday. The only real debate is whether it will be a 25bp or 50bp cut. If it’s 50bp, does it mean that inflation is finished, or would it be an indication that something is badly wrong with the economy? Double-click to enlarge. This US rates chart certainly suggests rates have peaked (for now), and the Fed is about to embark on a cutting cycle. Double-click to enlarge this US stock markets chart. The Industrials look ready to rally on a rate cut, and the Transports are starting to look better too.

We are not thinking of what size we might eventually cut rates by Will only discuss how big those moves will be when the time comes If our rates are steady while others cut, it supports the Australian dollar Not discussed possibility of government overruling RBA on policy decisions Even if headline inflation returns to 2% figure, it does not mean inflation is under control

We are not thinking of what size we might eventually cut rates by Will only discuss how big those moves will be when the time comes If our rates are steady while others cut, it supports the Australian dollar Not discussed possibility of government overruling RBA on policy decisions Even if headline inflation returns to 2% figure, it does not mean inflation is under control

Tonight, the PBoC announced lots of easing measures ranging from short to long term interest rates. This was the catalyst for the copper rally. Things are looking better and better for the market as we’ve also got a 50 bps cut from the Fed last week. Central bank easing generally leads the manufacturing cycle, so we can expect global growth to pick up. All these reasons should be bullish for the market and support prices in the next months.

Tonight, the PBoC announced lots of easing measures ranging from short to long term interest rates. This was the catalyst for the copper rally. Things are looking better and better for the market as we’ve also got a 50 bps cut from the Fed last week. Central bank easing generally leads the manufacturing cycle, so we can expect global growth to pick up. All these reasons should be bullish for the market and support prices in the next months.

Relative monetary policy drives currencies' exchange rates. Therefore, the market pays close attention whenever a central bank holds a meeting and updates its monetary policy stance. This week, three major central banks—the U.S. Federal Reserve (Fed), the Bank of England (BoE), and the Bank of Japan (BoJ)—will announce their verdicts on interest rates on Wednesday, Thursday, and Friday, respectively. All three decisions will be released within a short span of 48 hours, possibly triggering above-normal volatility.

Relative monetary policy drives currencies' exchange rates. Therefore, the market pays close attention whenever a central bank holds a meeting and updates its monetary policy stance. This week, three major central banks—the U.S. Federal Reserve (Fed), the Bank of England (BoE), and the Bank of Japan (BoJ)—will announce their verdicts on interest rates on Wednesday, Thursday, and Friday, respectively. All three decisions will be released within a short span of 48 hours, possibly triggering above-normal volatility.

The following exchange-traded funds, or ETFs, cover unique corners of Wall Street that have outperformed over the last eight months. These are not leveraged funds that use complex instruments to deliver double or triple the daily returns of a benchmark, however – they play things reasonably straight. Furthermore, they are not tiny ETFs with only a few million bucks in assets under management, but rather moderate- to large-sized funds with at least $100 million under their belt. There's risk in these funds, to be sure, but so far in 2024 they have significantly outpaced their peers. Here are 2024's 10 best-performing ETFs

The following exchange-traded funds, or ETFs, cover unique corners of Wall Street that have outperformed over the last eight months. These are not leveraged funds that use complex instruments to deliver double or triple the daily returns of a benchmark, however – they play things reasonably straight. Furthermore, they are not tiny ETFs with only a few million bucks in assets under management, but rather moderate- to large-sized funds with at least $100 million under their belt. There's risk in these funds, to be sure, but so far in 2024 they have significantly outpaced their peers. Here are 2024's 10 best-performing ETFs

You might think that in the midst of an artificial-intelligence-fueled bull market, combined with the generous regulatory support from initiatives like the CHIPS and Science Act, a domestic semiconductor manufacturer like Intel Corp. (ticker: INTC) would be thriving. Unfortunately, that's not the case – year to date, shares of Intel are down 60%. Intel's recent struggles serve as a prime example of strategic risk – the possibility that a company's management may not be able to effectively execute its strategy, or that the strategy itself may be flawed.

You might think that in the midst of an artificial-intelligence-fueled bull market, combined with the generous regulatory support from initiatives like the CHIPS and Science Act, a domestic semiconductor manufacturer like Intel Corp. (ticker: INTC) would be thriving. Unfortunately, that's not the case – year to date, shares of Intel are down 60%. Intel's recent struggles serve as a prime example of strategic risk – the possibility that a company's management may not be able to effectively execute its strategy, or that the strategy itself may be flawed.

A changing interest rate environment can result in significant changes on Wall Street as well as for the broader U.S. economy. After interest rates were cut in the wake of the 2020 pandemic to near-zero levels, borrowing became easier but inflation became a serious challenge. More recently, the U.S. Federal Reserve raised rates to fight that inflation problem, but made it more expensive to borrow as a result – illustrated most clearly by the fact that U.S mortgage rates hit their highest level in more than 23 years several months ago.

A changing interest rate environment can result in significant changes on Wall Street as well as for the broader U.S. economy. After interest rates were cut in the wake of the 2020 pandemic to near-zero levels, borrowing became easier but inflation became a serious challenge. More recently, the U.S. Federal Reserve raised rates to fight that inflation problem, but made it more expensive to borrow as a result – illustrated most clearly by the fact that U.S mortgage rates hit their highest level in more than 23 years several months ago.

The best defensive ETFs are ideal for investors seeking out safety as Treasury yields hover near their highest levels in nearly two decades and stocks struggle in reaction. And with higher interest rates driving up costs for consumers and businesses and a possible recession on the horizon, those who haven't already reallocated their portfolio towards more defensive investments should certainly consider it. It's worth admitting that over the very long term, stocks always recover and move higher. So, one way to get through volatility on Wall Street is to simply refuse to look at stock quotes for a few weeks or months and hope things look better on the other side. But long-term investors worried about the outlook on Wall Street can also find relief in defensive ETFs, which help provide some cover in an uncertain market environment.

The best defensive ETFs are ideal for investors seeking out safety as Treasury yields hover near their highest levels in nearly two decades and stocks struggle in reaction. And with higher interest rates driving up costs for consumers and businesses and a possible recession on the horizon, those who haven't already reallocated their portfolio towards more defensive investments should certainly consider it. It's worth admitting that over the very long term, stocks always recover and move higher. So, one way to get through volatility on Wall Street is to simply refuse to look at stock quotes for a few weeks or months and hope things look better on the other side. But long-term investors worried about the outlook on Wall Street can also find relief in defensive ETFs, which help provide some cover in an uncertain market environment.