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Federal Reserve expected to cut rates, lift Biden’s prospects

FILE PHOTO: U.S. President Joe Biden visits the Intel Ocotillo Campus, in Chandler WASHINGTON (Reuters) - The U.S. Federal Reserve looks on track to cut interest rates as the presidential campaign season heats up, potentially delivering President Joe Biden a boost as polls show Americans dislike his handling of the economy.   The Fed could [...] READ MORE

Iran’s currency hits a record low

TEHRAN, Iran (AP) — Iran’s currency fell to a record low on Sunday, plunging to 613,500 to the dollar, as its people celebrated the Persian New Year.   On Sunday, people were trying to exchange rials for foreign currency at Tehran’s main hub of exchange shops in Ferdowsi Street, but most were closed due to [...] READ MORE

Three factors why gold will glitter in 2024

Three factors — the US Fed’s likely move to cut interest rates, a weaker dollar and geopolitical tension — will likely keep gold prices elevated in 2024 with research agencies raising their price forecast for the precious metal.   JP Morgan has picked gold as the top pick among commodities this year and has forecast [...] READ MORE

Is it a golden era for gold?

Executive summary The price of gold is often driven by a complex interplay of factors, including the U.S. dollar exchange rate, real yields, supply/demand dynamics and sentiment. In recent years gold has exhibited a tendency to react to real yields in an asymmetric manner, supported by strong central bank purchases. We are constructive on gold [...] READ MORE

Buy gold or gold miners? You don’t have to dig deep to hit paydirt.

If you want to bet on gold in coming weeks and months, you may want to favor gold-mining shares over gold bullion. AFP/GETTY IMAGE Gold bullion — physical gold GC00 — has outperformed gold-mining company shares over the past three years by one of the largest margins in decades. Gold recently hit a new all-time [...] READ MORE

Goldman Says Commodities to Gain as Central Banks Cut Rates

Goldman Says Commodities to Gain as Central Banks Cut Rates Raw materials may return 15% over 2024 as borrowing costs come down, manufacturing recovers, and geopolitical risks persist, analysts including Samantha Dart and Daan Struyven said in a March 24 note. Copper, aluminum, gold and oil products may climb, according to the bank, which also [...] READ MORE

Dollar strengthens after big shift in global rate outlook

Woman holds U.S. dollar banknotes in this illustration taken May 30, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights Summary Dovish tilt seen by central banks after Swiss rate cut Interest rate advantage gives dollar broad support Dollar/yen earlier in week tested intervention level of 2022   NEW YORK/LONDON, March 22 (Reuters) - The dollar headed [...] READ MORE

Kazakhstanis Keeping Less Foreign Currency, Buying More Gold

The National Bank of Kazakhstan counts the country’s gold and foreign exchange reserves in February 2024 at $36.1 billion, financial news outlet LS reports. In 2014 this indicator was at $26.05 billion, meaning that over the past 10 years the volume of gross international reserves has increased by $10 billion (+38.6%).   Over the past [...] READ MORE

CENTRAL BANKS REIGNITE GOLD’S BULL RUN

The Fed’s dovish pivot, along with another year of very robust official sector buying, are set to feed a gold bull run later in the year. Pending Fed rate cuts in the months to come should prompt traders to grow long exposure. Strong physical demand and official sector buying are projected to lift prices to [...] READ MORE