By Ira Iosebashvili The Wall Street Journal Fri., Nov. 30, 2018 Gold prices fell Friday, pressured by a rise in the dollar. Gold for February delivery was recently down 0.5% at $1,224.10 (U.S.) a troy ounce on the Comex division of the New York Mercantile Exchange. The WSJ Dollar Index was recently up 0.3% at 90.46. An appreciating dollar tends to weigh on gold, which is denominated in the U.S. currency and becomes less affordable to foreign investors when the dollar rises. Investors are looking toward this weekend’s Group of 20 leaders summit in Buenos Aires, where some hope that the U.S. and China will make progress on trade talks. Next week, U.S. employment data will give market participants one view on how robustly the economy is growing. A strong number could bolster the case for the Federal Reserve to raise interest rates more aggressively and dent prices for gold, an asset that struggles to compete with yield-bearing investments when rates rise. Article … [Read more...] about Gold pressured by dollar’s rise
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By David Olive Business Columnist Fri., May 25, 2018 Big Food appears to be in permanent decline. The household-name companies that have stocked North America’s pantries for a century – firms like Kellogg Co., Kraft Heinz Co., General Mills Inc. and Coca-Cola Co. – are coping badly with seismic changes in the retail food industry. Over the past three years, average sales at North America’s top 10 processed-food companies have slipped 4.4 per cent. Four of the top 10 have endured sales drops in the double digits. Big Food has lost more than $20 billion (U.S.) in sales in the past three years as consumer loyalty to national brands has faded. (All figures in U.S. dollars.) As a result, share value at the top 10 Big Food companies is down a remarkable 24.8 per cent on average from their peak prices. Big Food is coping badly with a confluence of threats. Article Continued Below Consumer preferences have swung away from Big … [Read more...] about Why shoppers are losing their taste for Big Food
By The Canadian Press Tues., May 22, 2018 Strength in the energy sector, backed by a rising price for oil, helped boost Canada’s main stock index higher in late-morning trading. The S&P/TSX composite index was up 71.67 points to 16,233.98, after 90 minutes of trading. In New York, the Dow Jones industrial average was down 27.05 points to 24,986.24. The S&P 500 index was up 4.27 points to 2,737.28 and the Nasdaq composite index was up 10.85 points to 7,404.89. The Canadian dollar was trading at 78.29 cents U.S., up from an average value of 77.64 cents U.S. on Friday. The July crude contract was 31 cents higher at $72.66 (U.S.) per barrel and the June natural gas contract was up seven cents to $2.88 per mmBTU. Article Continued Below The June gold contract rose 60 cents to $1,291.50 an ounce and the July copper contract was up four cents to $3.14 per pound. TOP STORIES, DELIVERED TO YOUR INBOX. NEW NEWSLETTER HEADLINES SIGN UP … [Read more...] about TSX boosted by energy sector as loonie tops 78 cents U.S.
DUBAI/SYDNEY: In Dubai's decades-old Gold Souk, customers from around the world haggle over bangles and necklaces. Elsewhere in the emirate, the region's top centre for gold trade, bullion is playing a new role in financial engineering.A local start-up company founded last year, OneGram, is issuing a gold-backed cryptocurrency - part of efforts to convince Muslims that investing in cryptocurrencies complies with their faith.The global surge of interest in bitcoin, ethereum and other cryptocurrencies extends into the Gulf and southeast Asia, the main centres of Islamic finance.But because they are products of financial engineering and objects of speculation, cryptocurrencies sit uneasily with Islam. Sharia principles, in addition to banning interest payments, emphasise real economic activity based on physical assets and frown on pure monetary speculation.That has triggered debate among Islamic scholars over whether cryptocurrencies are religiously permissible. Cryptocurrency companies … [Read more...] about Insight: Cryptocurrency traders use old gold in drive to draw Islamic investors
By Ranjeetha Pakiam Bloomberg Tues., April 3, 2018 SINGAPORE—Gold will surge to the highest level in five years if a global trade war breaks out, according to Rick Rule, chief executive officer of Sprott U.S. Holdings Inc., who’s been involved in the market for four decades. Bullion could top $1,400 (U.S.) an ounce in 2018 as escalating trade tensions drive investors to havens and the three-decade bull market in bonds nears an end, said Rule, who’s due to speak at a conference in Hong Kong on Wednesday. Spot gold traded at $1,340 on Tuesday after three straight quarters of gains, while exchange-traded fund holdings are around the highest in half a decade. U.S. President Donald Trump has ordered import tariffs on steel and aluminum and sought new restrictions on Chinese investment. Asia’s top economy retaliated by imposing its own levies on Monday, while the U.S. is expected to release this week a new list of Chinese products to be slapped with … [Read more...] about Trade war will push gold to $1,400, Sprott U.S. Holdings exec predicts