Gold dipped rose

Gold traded lower on Thursday as a stronger dollar and remarks from U.S. Federal Reserve Chair Jerome Powell about the central bank’s commitment to tame rising prices dimmed its safe-haven appeal. Spot gold fell 0.4% to $1,829.89 per ounce by 1056 GMT. U.S. gold futures inched 0.4% lower to $1,830.70. While the precious metal is considered a hedge against inflation and economic instability, it also contends with the dollar as a safe-store of value. Therefore, a firmer dollar makes greenback-priced bullion more expensive for overseas buyers. [USD/] Gold is expected to face gradual downward pressure and move towards $1,800, with Powell reiterating the rate hike path and the dollar also strengthening, Bank of China International analyst Xiao Fu said. ”Because gold’s a safe haven asset, it will attract buying on (recession risk) demand, but the rising rates are very powerful in terms of impacting other asset classes and including gold.” Close Higher US … [Read more...] about Gold dips as dollar gains upper hand after Powell remarks

- A + A BENGALURU (June 23): Gold prices eased on Thursday (June 23), pressured by expectations of aggressive interest rate increases after the US Federal Reserve (Fed) chief doubled down on the central bank's fight against inflation. Spot gold had fallen 0.2% to US$1,834.33 (about RM8,084.81) per ounce by 0733 GMT. US gold futures eased 0.1% to US$1,835.60. "With [Fed chair Jerome] Powell pointing out overnight that 1% rises were a real possibility, it's a reminder of that constant pressure on gold prices from rising interest rates," said Michael McCarthy, the chief strategy officer of Tiger Brokers in Australia. When asked by a member of the Senate Banking Committee if the Fed could raise rates by as much as 100 basis points at once, Powell said he would never take anything off the table, and officials would make whatever moves as needed to restore price stability. Gold is often viewed as a hedge against inflation and a safe haven during economic crises, like a … [Read more...] about Gold dips after US Fed chief pledged to keep up inflation fight

- A + A BENGALURU (June 24): Gold prices were flat on Friday (June 24) but on course for their second straight weekly decline, with worries over major central banks potentially implementing big interest rate hikes to target runaway inflation weighing on bullion demand. Spot gold was last up 0.1% to US$1,824.72 (about RM8,036.98) per ounce at 0215 GMT after hitting a one-week low of US$1,820.99 earlier in the session. US gold futures fell 0.2% to US$1,825.90. Gold prices have dropped about 0.9% this week. The US Federal Reserve's commitment to reining in 40-year-high inflation is "unconditional", its chair Jerome Powell told lawmakers on Thursday, even as he acknowledged that sharply higher interest rates may push up unemployment. "The US dollar remains firm and expectations now lean towards a 75-basis-point Fed hike in July. The TIPS spread — a market based proxy for inflation expectations — is also near a four-month low, and these have kept a lid on any gold … [Read more...] about Gold set for second straight weekly drop on worries over big rate hikes

Share to Twitter Share to Linkedin Earlier this month, in the grounds of the Mandarin Oriental hotel on the picturesque shores of Lake Como in northern Italy, Rolls-Royce revealed its second Boat Tail. Finished in a chameleon-esque paintwork that shifts from near-white to deep bronze depending on how the sun hits it, this is the second of only three to ever exist. Commissioned by a Rolls-Royce client who has worked closely with the company for four years, the car shares its platform and overall look with the first Boat Tail, revealed in 2021, but is otherwise a total one-off – right down to the rose gold cutlery and carbon fiber folding stools that form its al fresco dining set. The car is inspired both by racing yachts of the early 20th century and the Rolls-Royce Phantom II Boattail from 1932, which one contemporary Boat Tail customer also owns. This particular example was commissioned by a loyal Rolls-Royce customer based in the Middle East, and whose … [Read more...] about Rolls-Royce CEO On How To Order The Ultra-Rare $30 Million Boat Tail

Share to Twitter Share to Linkedin The never ending reverberating sound of diverse tech talent pipeline issues has finally met its match. Edlyft , the digital platform of study tools and online cohort-based support of the most sought-after student tech talent, is taking the $100 million diversity and inclusion tech market by storm. The company’s Co-Founders Erika Hairston and Arnelle Ansong are disrupting the industry by being the first place companies go to find, engage, and hire diverse technical early talent. ​​​​ The Breakdown You Need To Know: The tech industry has been exclusive and severely lacking in diversity. In order to effectively tackle this issue head on Edlyft has raised millions of dollars in venture capital funding. Some of the inventors include Kleiner Perkins, Village Global, Concrete Rose Capital, and notable angels like Jeff Weiner, as CultureBanx noted during its “ Igniting Cultural Capital ” session with UBS. … [Read more...] about Edlyft Takes Aim At The $100 Million Diversity And Inclusion Tech Market

- A + A A weekly round-up of tanker and dry bulk market (June 24, 2022) This report is produced by the Baltic Exchange. The Baltic Exchange, a wholly-owned subsidiary of Singapore Exchange, is the world's only independent source of maritime market information for the trading and settlement of physical and derivative contracts. Its international community of over 650 members encompasses the majority of world shipping interests and commits to a code of business conduct overseen by the Baltic. For daily freight market reports and assessments, please visit www.balticexchange.com . Capesize The Capesize market was unable to carry the rally from last week as rates were seen to dip sharply this week with the 5TC down 4901 to US$19,875. Trade activity throughout the week came in fits and starts with the market struggling to settle. While activity in the Pacific was moderate and the Atlantic was heard to be tightening on tonnage, the financial … [Read more...] about Baltic Exchange shipping updates: June 24

Share to Twitter Share to Linkedin The Jewellery Talents of Today showcase opens today at Christie's Paris, featuring five exceptional independent jewelry designers, as part of the Joaillerie Paris Online sale. Presented with Paris jewelry gallery Second Petale , Aida Bergsen, Mashandy by Philippe Guilhem, Gaëlle Khouri, Jose Marin, and Salima Thakker will all be showing recent work, alongside vintage jewels from heritage houses like Cartier, Van Cleef & Arpels and Boucheron. Second Petale founder Arina Pouzoullic approached Christie's with the idea for a contemporary jewelry art showcase during the pandemic and the first event in June 2021 brought together Sarah Ho , Kayo Saito, Ulla and Martin Kaufman, Tomasz Donocik and Chiara Passoni. It was followed by a second edition in November 2021 , showcasing jewels by BARE by Dries Criel, Luz Camino, MAD Joaillerie, Marie Mas, Rosior and Walid Akkad. Each time, the selection has been characterized by a … [Read more...] about Christie’s Paris ‘Jewellery Talents Of Today’ Shows Contemporary Art Jewelry Alongside Vintage Gems

- A + A KUALA LUMPUR (June 23): Bursa Malaysia erased early gains to end flat following a choppy trading session amid cautious investors sentiment on concerns over inflation, a dealer said. At 5 pm on Thursday (June 23), the benchmark FBM KLCI had fallen 0.05 of a point to 1,431.05 from Wednesday's close at 1,431.10. The key index, which opened 3.40 points firmer at 1,434.50, fluctuated between 1,427.78 and 1,441.47 throughout the day. On the broader market, losers beat gainers 500 to 348, while 410 counters were unchanged, 1,008 untraded and nine others suspended. Total turnover shrank to 2.34 billion units worth RM1.56 billion from 2.72 billion units worth RM1.9 billion on Wednesday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the local market was dragged down by selling mainly of energy, industrial products and real estate investment trust (REIT) stocks. Regionally, he said the key indices closed mostly higher due to … [Read more...] about Bursa erases early gains to end flat amid choppy trading

Share to Twitter Share to Linkedin This month saw the newly completed National Museum of Qatar begin welcoming visitors into its architecturally impressive exhibition space, shops and dining venues. Complementing the breath-taking exterior design of French architect Jean Nouvel, it was Koichi Takada Architects who executed the design of its interiors after winning a global competition to take the project on in 2012. Inside the National Museum of Qatar. Oscar Rialubin Built on 1.5 million sq ft at the south end of Doha’s Corniche, the new museum boasts a prominent position in the city with dramatic architecture inspired by the unique mineral formation, desert rose. Koichi Takada designed the interiors to respect and complement this distinct structure, curating his ‘desert-scapes’ concept to create a local cultural experience for visitors and provide a narrative of Qatari history. “The architecture is a representation of the desert rose mineral … [Read more...] about Inside The New Architecturally Impressive National Museum Of Qatar

- A + A NEW YORK (June 25): Stocks on global markets rallied on Friday (June 24) and registered strong gains for the week as a recent slide in commodity prices eased worries about inflation and the rate hike outlook. The S&P 500 climbed 3.1% in its biggest daily percentage gain since May 2020, and the MSCI global index rose 4.8% for the week, snapping three straight weeks of declines. US Treasury yields edged up from two-week lows. Investors have been worried that aggressive interest rate hikes by the US Federal Reserve (Fed) and other major central banks to combat inflation could cause a recession, which would reduce demand for commodities and other items. "The [stock] market came into this week oversold, so it was time for a bounce," said Quincy Krosby, the chief equity strategist of LPL Financial in Charlotte, North Carolina. "We've seen oil prices come down along with other commodity prices," she said, adding that the market's move is reflecting … [Read more...] about Stocks gain sharply for day and week, while copper falls further