Gold inches higher as dollar dips amid risk aversion

Gold edged higher on Thursday as growing risk aversion weighed on the dollar, while palladium held ground at a premium to the bullion. Spot gold was up 0.2 percent at $1,239.86 per ounce, as of 0429 GMT, while U.S. gold futures were 0.2 percent higher at $1,244.9 per ounce. “Markets are trying to consolidate, trying to push up higher for now,” said Benjamin Lu, a commodities analyst with Phillip Futures. The dollar declined against the safe-haven yen as a spike in risk aversion pressured equitie


Gold edged higher on Thursday as growing risk aversion weighed on the dollar, while palladium held ground at a premium to the bullion. Spot gold was up 0.2 percent at $1,239.86 per ounce, as of 0429 GMT, while U.S. gold futures were 0.2 percent higher at $1,244.9 per ounce. “Markets are trying to consolidate, trying to push up higher for now,” said Benjamin Lu, a commodities analyst with Phillip Futures. The dollar declined against the safe-haven yen as a spike in risk aversion pressured equitie
Gold inches higher as dollar dips amid risk aversion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: getty images
Keywords: news, cnbc, companies, palladium, dollar, meeting, higher, analyst, dips, yields, hike, gold, rate, aversion, inches, ounce, risk, amid, lu


Gold inches higher as dollar dips amid risk aversion

Gold edged higher on Thursday as growing risk aversion weighed on the dollar, while palladium held ground at a premium to the bullion.

Spot gold was up 0.2 percent at $1,239.86 per ounce, as of 0429 GMT, while U.S. gold futures were 0.2 percent higher at $1,244.9 per ounce.

“Markets are trying to consolidate, trying to push up higher for now,” said Benjamin Lu, a commodities analyst with Phillip Futures.

A balance between a host of factors such as a rate hike by the U.S. Federal Reserve in December, uncertainty about trade tensions between Washington and Beijing, and a flattening yield curve has helped create a premium for the bullion, Lu added.

Fed policymakers will gather at a Dec. 18-19 meeting, at which the central bank is widely expected to raise interest rates.

“Although a rate hike is already priced in, markets will be closely watching the meeting for clues on rate hike timings in 2019,” said Lukman Otunuga, a research analyst at FXTM, adding that: “if the meeting echoes a similar message to (Chairman Jerome) Powell’s dovish shift, gold has the potential to shine into 2019.”

The dollar declined against the safe-haven yen as a spike in risk aversion pressured equities and U.S. Treasury yields. The spread between the two-year and five-year Treasury yields inverted this week and the two-year/10-year spread was at its flattest in more than a decade amid a sharp fall in long-term rates.

“An yield curve inversion indicates higher borrowing cost in short term, so for safe-haven assets in the longer run it’s going to be very positive,” Phillip Futures’ Lu said.

Spot gold may test a resistance at $1,245 per ounce, a break above which could lead to a gain into a range of $1,253-$1,258, according to Reuters technical analyst Wang Tao.

Meanwhile, palladium continued to be more valuable than gold after outshining the yellow metal for the first time since 2002 on Wednesday, with prices soaring by around 50 percent in less than four months to record levels.

Spot palladium rose 0.1 percent to $1,245.00 per ounce, hovering near its record high hit in the previous session.

The market now awaits Friday’s U.S. non-farm payrolls data for November, which is expected to show unemployment remains at 3.7 percent.

“Investors are seen adopting a cautious stance ahead of the U.S. jobs report which could offer insight over the health of the U.S. labour force,” said FXTM’s Otunuga.

Amongst other metals, silver fell 0.7 percent to $14.41 per ounce, while platinum extended losses into a third session, declining 0.7 percent to $795.00 per ounce.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: getty images
Keywords: news, cnbc, companies, palladium, dollar, meeting, higher, analyst, dips, yields, hike, gold, rate, aversion, inches, ounce, risk, amid, lu


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Gold edges higher as global political, economic worries lend support

Gold prices nudged higher on Wednesday after hitting their highest in over three months in the previous session as global political and economic uncertainties bolstered safe-haven demand for the metal. “Gold has benefited from general equity weakness, short covering, and rising risk aversion … There is potential for further upside amid rising risk aversion and geopolitical risk,” said John Sharma, an economist with National Australia Bank (NAB). “Risk aversion is in play. Dollar denominated go


Gold prices nudged higher on Wednesday after hitting their highest in over three months in the previous session as global political and economic uncertainties bolstered safe-haven demand for the metal. “Gold has benefited from general equity weakness, short covering, and rising risk aversion … There is potential for further upside amid rising risk aversion and geopolitical risk,” said John Sharma, an economist with National Australia Bank (NAB). “Risk aversion is in play. Dollar denominated go
Gold edges higher as global political, economic worries lend support Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-24
Keywords: news, cnbc, companies, political, economic, haven, aversion, higher, risk, weakness, appeal, global, worries, ounce, support, lend, gold, trade, dollar, edges, previous


Gold edges higher as global political, economic worries lend support

Gold prices nudged higher on Wednesday after hitting their highest in over three months in the previous session as global political and economic uncertainties bolstered safe-haven demand for the metal.

Spot gold was up 0.1 percent at $1,231.81 an ounce at 0420 GMT. On Tuesday, it touched its highest since July 17 at $1,239.68.

U.S. gold futures were down 0.2 percent at $1,234.7 an ounce.

Palladium was down 0.1 percent at $1,139.50 per ounce after hitting an all-time high of $1,150.50 in the previous session.

“Gold has benefited from general equity weakness, short covering, and rising risk aversion … There is potential for further upside amid rising risk aversion and geopolitical risk,” said John Sharma, an economist with National Australia Bank (NAB).

Global stocks have suffered this week on worries about U.S. earnings, Italian government finances, trade tensions and mounting pressure on Saudi Arabia over the death of dissident journalist Jamal Khashoggi.

“Weakness in U.S. equities will neutralize the haven appeal for U.S. dollar, playing into gold’s hands,” said Stephen Innes, APAC trading head at OANDA in Singapore.

“Risk aversion is in play. The difference this time around is the U.S. dollar does not have a go-to haven appeal it had from escalating trade war tension.”

Dollar denominated gold is used as an alternative investment during times of political and financial uncertainty.

While the dollar is also considered a safe haven currency, weakness in U.S. equities has tended to undercut its appeal especially as talk of a peak in U.S. corporate earnings has raised concerns about the outlook for economic growth.

The bullion has slipped nearly 10 percent from its April peak after investors preferred the dollar as the U.S.-China trade war unfolded against a background of higher U.S. interest rates.

Meanwhile, Atlanta Federal Reserve President Raphael Bostic said on Tuesday that falling stock prices, uncertainty around global trade and other possible “headwinds” are not enough yet to throw the U.S. economy off course or force the Fed to alter its intent for continued gradual rate increases.

“At this stage, the Fed will be monitoring factors such as the U.S. labour market and inflationary pressures. However, stock market weakness and possible yield curve inversion might induce some caution,” NAB’s Sharma said.

Spot gold may retest a resistance at $1,238 per ounce, a break above which could lead to a gain into the range of $1,252-$1,263, according to Reuters technical analyst Wang Tao.

According to Amit Kumar Gupta, portfolio management services head at Adroit Financial Services in New Delhi, “gold will continue to find support in $1,210-$1,215 region, the previous breakout level. On upside, $1,245-$1,252 can be achieved in next couple of weeks amid U.S mid-term elections uncertainty.”

Silver rose 0.3 percent to $14.77 per ounce, while platinum was down 0.3 percent at $828.24.


Company: cnbc, Activity: cnbc, Date: 2018-10-24
Keywords: news, cnbc, companies, political, economic, haven, aversion, higher, risk, weakness, appeal, global, worries, ounce, support, lend, gold, trade, dollar, edges, previous


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Dollar struggles near 2-1/2-mth lows, yen slips as risk aversion ebbs

“It appears that positions which were skewed towards risk aversion are being reversed across the board,” said Makoto Noji, senior strategist at SMBC Nikko Securities in Tokyo. “The trigger was Chinese Premier Li’s comments on the yuan, which has led to hopes of a more moderate outcome to the U.S.-China trade row,” he said. The Australian dollar, a proxy of China-related trades as well as gauge of risk sentiment, climbed to a three-week high of $0.7297. The Australian dollar, pound and euro also


“It appears that positions which were skewed towards risk aversion are being reversed across the board,” said Makoto Noji, senior strategist at SMBC Nikko Securities in Tokyo. “The trigger was Chinese Premier Li’s comments on the yuan, which has led to hopes of a more moderate outcome to the U.S.-China trade row,” he said. The Australian dollar, a proxy of China-related trades as well as gauge of risk sentiment, climbed to a three-week high of $0.7297. The Australian dollar, pound and euro also
Dollar struggles near 2-1/2-mth lows, yen slips as risk aversion ebbs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-21
Keywords: news, cnbc, companies, currency, week, aversion, struggles, lows, yen, slips, ebbs, uschina, peak, securities, 212mth, trade, dollar, near, rise, risk


Dollar struggles near 2-1/2-mth lows, yen slips as risk aversion ebbs

The dollar struggled near 2-1/2 month lows, while the yen also sagged on Friday on reduced safe haven demand amid a switch in investors’ view that the Sino-U.S. trade conflict would not lead to an immediate global shock.

The dollar index against a basket of six major currencies stood little changed at 93.908 after touching 93.829 overnight, its lowest since July 9.

The index has fallen more than 1 percent this week, with investor flows being diverted from the greenback to other currencies including emerging market ones amid an ebb in U.S.-China trade war concerns.

“It appears that positions which were skewed towards risk aversion are being reversed across the board,” said Makoto Noji, senior strategist at SMBC Nikko Securities in Tokyo.

“The trigger was Chinese Premier Li’s comments on the yuan, which has led to hopes of a more moderate outcome to the U.S.-China trade row,” he said.

Premier Li Keqiang pledged on Wednesday that Beijing will not engage in competitive currency devaluation, a day after his country and Washington plunged deeper into a trade war with more tit-for-tat tariffs.

The dollar had attracted strong demand thanks to trade-related tensions in recent months, as investors bet the greenback would gain at the expense of riskier currencies.

The better risk sentiment contrasted with a Reuters poll showing forecasters were unanimous in viewing the trade row between the world’s two top economies as bad for growth.

The euro was a beneficiary of the shift in currency flows. The single currency was 0.05 percent higher at $1.1783 after climbing 0.9 percent the previous day, when it had scaled a three-month peak of $1.1785.

“The ‘risk on’ mood in light of optimism towards U.S.-China trade issues has cleared the path for the euro’s rise,” said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.

Amid a bounce in currencies such as the Turkish lira and South African rand, ravaged earlier in the month by trade friction and domestic factors, MSCI’s emerging market currency index rose to a three-week peak on Thursday.

The Australian dollar, a proxy of China-related trades as well as gauge of risk sentiment, climbed to a three-week high of $0.7297.

The Aussie has jumped nearly 2 percent this week, having pulled back from a 2-1/2-year low of $0.7085 plumbed on Sept. 11 and headed for its biggest weekly advance in 14 months.

S&P Global Ratings revised its outlook on triple-A rated Australia to stable from negative on Friday, providing the Aussie with a further lift.

The dollar was up 0.25 percent at 112.745 yen, its strongest in two months.

“Higher U.S. yields, particularly the two-year yield’s rise, has added further momentum to the dollar’s gains versus the yen ahead of next week’s Fed meeting,” Yamamoto at Mizuho Securities said.

The two-year Treasury yield has climbed to a decade high this week on the back of receding risk aversion and expectations for a hawkish Federal Reserve meeting next week.

The Australian dollar, pound and euro also advanced significantly against the yen this week.

China’s yuan was a shade higher at 6.8420 per dollar in onshore trade. It has gained about 0.35 percent on the week.

Expectations of a rise in bank lending rates and tightness in cash supplies caused a sudden spike in the Hong Kong dollar, pulling it off the lower end of its narrow trading band, where it had been stuck for six months.

The Hong Kong dollar rose to 7.8244 to the dollar, hitting its highest levels since late February. Since March, it had stayed near 7.85, the lower end of the Hong Kong Monetary Authority’s managed trading band.

The pound hovered near a two-month peak of $1.3295 scaled overnight, when robust UK retail sales data added to confidence towards the currency already bullish on growing optimism that Britain and the European Union are making progress towards a Brexit deal.


Company: cnbc, Activity: cnbc, Date: 2018-09-21
Keywords: news, cnbc, companies, currency, week, aversion, struggles, lows, yen, slips, ebbs, uschina, peak, securities, 212mth, trade, dollar, near, rise, risk


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Dollar benefits from Powell’s optimism, hits 6-month peak vs yen

The dollar rose across the board on Wednesday, climbing to a six-month high against the yen, after Federal Reserve Chairman Jerome Powell gave an upbeat outlook for the U.S. economy and reinforced views that the Fed was on track to steadily hike interest rates. The dollar was up 0.05 percent at 112.955 yen after going as high as 113.08, its strongest since January 9. An easing of risk aversion was reflected on Wall Street, which rose overnight and supported Asian stocks on Wednesday after Powell


The dollar rose across the board on Wednesday, climbing to a six-month high against the yen, after Federal Reserve Chairman Jerome Powell gave an upbeat outlook for the U.S. economy and reinforced views that the Fed was on track to steadily hike interest rates. The dollar was up 0.05 percent at 112.955 yen after going as high as 113.08, its strongest since January 9. An easing of risk aversion was reflected on Wall Street, which rose overnight and supported Asian stocks on Wednesday after Powell
Dollar benefits from Powell’s optimism, hits 6-month peak vs yen Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-18  Authors: justin sullivan, getty images, patrick t fallon, bloomberg
Keywords: news, cnbc, companies, vs, 005, powell, high, peak, optimism, rose, watched, yen, powells, dollar, risk, hits, yields, 6month, aversion, benefits


Dollar benefits from Powell's optimism, hits 6-month peak vs yen

The dollar rose across the board on Wednesday, climbing to a six-month high against the yen, after Federal Reserve Chairman Jerome Powell gave an upbeat outlook for the U.S. economy and reinforced views that the Fed was on track to steadily hike interest rates.

In closely watched congressional testimony on Tuesday, Powell said he saw the United States on course for years more of steady growth, while largely discounting the risks associated with a trade war.

The dollar was up 0.05 percent at 112.955 yen after going as high as 113.08, its strongest since January 9.

The euro dipped 0.05 percent to $1.1653 after losing 0.4 percent overnight.

An easing of risk aversion was reflected on Wall Street, which rose overnight and supported Asian stocks on Wednesday after Powell’s optimistic analysis of the U.S. economy.

“The dollar stands to gain further, particularly against the yen, with risk aversion in the equity markets petering out,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

“And while long-term Treasury yields are not rising prominently, this is a reflection of investor demand for U.S. assets that generates a degree of dollar-buying.”


Company: cnbc, Activity: cnbc, Date: 2018-07-18  Authors: justin sullivan, getty images, patrick t fallon, bloomberg
Keywords: news, cnbc, companies, vs, 005, powell, high, peak, optimism, rose, watched, yen, powells, dollar, risk, hits, yields, 6month, aversion, benefits


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Dollar supported by sagging euro, bubbling trade tensions

The euro was little changed at $1.1641 after shedding 0.45 percent overnight. Trade tensions also supported the dollar against commodity currencies, like the Australian dollar, and emerging market currencies whose economies are most vulnerable to a downturn in trade. The dollar index against a basket of six major currencies was 0.15 percent lower at 94.882 after gaining about 0.45 percent the previous day. That said, the dollar has managed to gain only as emerging market and commodity currencies


The euro was little changed at $1.1641 after shedding 0.45 percent overnight. Trade tensions also supported the dollar against commodity currencies, like the Australian dollar, and emerging market currencies whose economies are most vulnerable to a downturn in trade. The dollar index against a basket of six major currencies was 0.15 percent lower at 94.882 after gaining about 0.45 percent the previous day. That said, the dollar has managed to gain only as emerging market and commodity currencies
Dollar supported by sagging euro, bubbling trade tensions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-03  Authors: dan kitwood, getty images
Keywords: news, cnbc, companies, aversion, yamamoto, 045, tensions, emerging, risk, commodity, dollar, supported, market, trade, sagging, bubbling, currencies, euro


Dollar supported by sagging euro, bubbling trade tensions

The dollar held firm on Tuesday, as political uncertainty in Germany weighed on the euro, after German Chancellor Angela Merkel’s interior minister offered to quit in an escalating row with a key coalition partner over migration policy.

The euro was little changed at $1.1641 after shedding 0.45 percent overnight.

Trade tensions also supported the dollar against commodity currencies, like the Australian dollar, and emerging market currencies whose economies are most vulnerable to a downturn in trade.

The dollar index against a basket of six major currencies was 0.15 percent lower at 94.882 after gaining about 0.45 percent the previous day.

“There’s a strong element of ‘risk off’ generated by trade concerns behind the dollar’s latest rise. That said, the dollar has managed to gain only as emerging market and commodity currencies have slid due to risk aversion,” said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.

“A currency of a country with a large current account deficit is not usually a choice destination during risk aversion, but the dollar is high in liquidity, which is a draw.”


Company: cnbc, Activity: cnbc, Date: 2018-07-03  Authors: dan kitwood, getty images
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Dollar steadies as risk aversion ebbs, Sino-US trade rift still a worry

The dollar steadied against a basket of currencies on Wednesday, as risk aversion sparked by concerns over a worsening trade feud between Washington and Beijing ebbed, although lingering worries about the tariff rift kept currencies on edge. The dollar index against a basket of six major currencies stood little changed at 95.123 after advancing to an 11-month peak of 95.296 on Tuesday. The dollar was 0.1 percent higher at 110.125 yen following its retreat to an eight-day trough of 109.55 on Tues


The dollar steadied against a basket of currencies on Wednesday, as risk aversion sparked by concerns over a worsening trade feud between Washington and Beijing ebbed, although lingering worries about the tariff rift kept currencies on edge. The dollar index against a basket of six major currencies stood little changed at 95.123 after advancing to an 11-month peak of 95.296 on Tuesday. The dollar was 0.1 percent higher at 110.125 yen following its retreat to an eight-day trough of 109.55 on Tues
Dollar steadies as risk aversion ebbs, Sino-US trade rift still a worry Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-19  Authors: frank van den bergh, getty images
Keywords: news, cnbc, companies, dollar, peak, rift, ebbs, treasury, currencies, safehaven, worry, risk, trade, yen, lows, aversion, yields, sinous, steadies, index


Dollar steadies as risk aversion ebbs, Sino-US trade rift still a worry

The dollar steadied against a basket of currencies on Wednesday, as risk aversion sparked by concerns over a worsening trade feud between Washington and Beijing ebbed, although lingering worries about the tariff rift kept currencies on edge.

The dollar index against a basket of six major currencies stood little changed at 95.123 after advancing to an 11-month peak of 95.296 on Tuesday.

The index reached the 11-month peak after U.S. President Donald Trump threatened to slap more tariffs on China, prompting an angry response from Beijing. Escalating tensions triggered risk aversion and caused a sell-off in global equities on Tuesday.

A degree of calm returned to broader markets on Wednesday after Wall Street shares pared a bulk of their losses overnight.

“Along with the Swiss franc and the yen, the dollar is also a safe haven currency, although perhaps less so than the yen,” said Shin Kadota, senior strategist at Barclays in Tokyo.

“The dollar’s safe-haven status, however, could come under question as it has also become a high-yielding currency.”

Last week the Federal Reserve hiked the interest rate target range by a quarter of a percentage point to 1.75 percent-2 percent, the highest in a decade.

The dollar was 0.1 percent higher at 110.125 yen following its retreat to an eight-day trough of 109.55 on Tuesday .

The yen is often sought in times of political tension and market turmoil.

The dollar managed to bounce back against the yen as safe-haven U.S. Treasury yields climbed from three-week lows. Better-than-expected U.S. housing data released on Tuesday also helped nudge Treasury yields off their lows.


Company: cnbc, Activity: cnbc, Date: 2018-06-19  Authors: frank van den bergh, getty images
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Cramer: Warren Buffett’s aversion to iPhones might’ve been what kept him out of Amazon and Alphabet

Buffett’s aversion to iPhones may have kept him out of Amazon and Alphabet 11 Hours Ago | 01:20As Berkshire Hathaway wraps up its event-filled annual shareholder meeting, CNBC’s Jim Cramer reflected on some of the weekend’s most interesting revelations. But Cramer argued that Buffett and Munger’s hesitation on investing in Amazon and Google parent Alphabet could’ve stemmed from something more generational. While Berkshire holds a massive stake in the stock of Apple, Cramer said that Buffett’s pe


Buffett’s aversion to iPhones may have kept him out of Amazon and Alphabet 11 Hours Ago | 01:20As Berkshire Hathaway wraps up its event-filled annual shareholder meeting, CNBC’s Jim Cramer reflected on some of the weekend’s most interesting revelations. But Cramer argued that Buffett and Munger’s hesitation on investing in Amazon and Google parent Alphabet could’ve stemmed from something more generational. While Berkshire holds a massive stake in the stock of Apple, Cramer said that Buffett’s pe
Cramer: Warren Buffett’s aversion to iPhones might’ve been what kept him out of Amazon and Alphabet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-05-07  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, think, youre, services, mad, berkshire, aversion, mightve, alphabet, buffett, smartphone, money, warren, amazon, buffetts, kept, cramer, iphones


Cramer: Warren Buffett's aversion to iPhones might've been what kept him out of Amazon and Alphabet

Buffett’s aversion to iPhones may have kept him out of Amazon and Alphabet 11 Hours Ago | 01:20

As Berkshire Hathaway wraps up its event-filled annual shareholder meeting, CNBC’s Jim Cramer reflected on some of the weekend’s most interesting revelations.

Warren Buffett, the CEO of Berkshire and a widely renowned investor, admitted on Saturday that he “made the wrong decisions on Google and Amazon,” having considered both stocks with his longtime partner, Charlie Munger.

“I had a very, very, very high opinion of Jeff’s [Jeff Bezos, CEO of Amazon] ability when I first him, and I underestimated him,” Buffett said at the Omaha, Nebraska investor gathering.

“I’ve watched Amazon from the start,” he continued. “I think what Jeff Bezos has done is something close to a miracle, … the problem is when I think something will be a miracle, I tend not to bet on it.”

But Cramer argued that Buffett and Munger’s hesitation on investing in Amazon and Google parent Alphabet could’ve stemmed from something more generational.

While Berkshire holds a massive stake in the stock of Apple, Cramer said that Buffett’s personal aversion to the iPhone could have been what stopped him from buying shares of Amazon or Alphabet.

“While these services — Amazon and Alphabet’s Google — worked well on the computers, it really was the rise of the smartphone that sent their sales into the stratosphere,” the “Mad Money” host explained. “But if you didn’t have a smartphone, you were never going to understand this storyline.”

The “Mad Money” host still pegged Buffett and Munger, who is vice chairman of Berkshire, as “two of the best investors of all time.” But he maintained that without a smartphone, the rise of the cloud could’ve eluded anyone.

“When you plug into these services, you’re plugging into a data center where the cloud resides,” he said. “There’s simply no way you can comprehend the worth of these companies if you’re not actually plugged in.”

“To a guy like Buffett, who’s very well-versed in retail but not that well-versed in tech, Amazon probably looked like just another retailer,” Cramer added.

This could’ve also explained why Berkshire exited its position in the stock of IBM, a long-standing technology giant that now gets over 50 percent of its sales from products and services tied to the cloud, the “Mad Money” host said.

“Here’s the bottom line: because neither Buffett nor Munger used a smartphone, they ended up failing to spot some amazing opportunities,” Cramer said. “Ordinarily, I would never, ever bring this stuff up, but they went there themselves so I thought it was fair game. I would’ve been happy just to praise their brilliance, but if you’re going to admit you made a mistake, I think it’s fair for someone — might as well be me — to explain why I think it may have happened.”


Company: cnbc, Activity: cnbc, Date: 2018-05-07  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, think, youre, services, mad, berkshire, aversion, mightve, alphabet, buffett, smartphone, money, warren, amazon, buffetts, kept, cramer, iphones


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Gold slips, but mounting trade worries offer support

Gold prices eased on Tuesday after gaining more than 1 percent in the previous session, evenas a sell-off in global equities amid concerns over a trade war between China and the United States continued to support the safe-haven metal. Spot gold was down 0.2 percent at $1,338.51 per ounce as of 0324 GMT. U.S. gold futures eased 0.3 percent to $1,342.80 an ounce. Gold is down most likely due to Chinese investors getting out of their positions ahead of holidays on Thursday and Friday, said MKS trad


Gold prices eased on Tuesday after gaining more than 1 percent in the previous session, evenas a sell-off in global equities amid concerns over a trade war between China and the United States continued to support the safe-haven metal. Spot gold was down 0.2 percent at $1,338.51 per ounce as of 0324 GMT. U.S. gold futures eased 0.3 percent to $1,342.80 an ounce. Gold is down most likely due to Chinese investors getting out of their positions ahead of holidays on Thursday and Friday, said MKS trad
Gold slips, but mounting trade worries offer support Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-04-02  Authors: source, world gold council
Keywords: news, cnbc, companies, trade, support, mounting, financial, slips, investors, prices, previous, eased, gold, aversion, wing, china, worries, risk, offer


Gold slips, but mounting trade worries offer support

Gold prices eased on Tuesday after gaining more than 1 percent in the previous session, even

as a sell-off in global equities amid concerns over a trade war between China and the United States continued to support the safe-haven metal.

Spot gold was down 0.2 percent at $1,338.51 per ounce as of 0324 GMT. It climbed 1.3 percent on Monday in its biggest one-day percentage gain in a week.

U.S. gold futures eased 0.3 percent to $1,342.80 an ounce.

Gold is down most likely due to Chinese investors getting out of their positions ahead of holidays on Thursday and Friday, said MKS trader Sam Laughlin.

The three-day Qingming tomb-sweeping festival in China starts on April 5.

The risk-averse sentiment in the market, however, underpinned bullion, often seen as an alternative investment during times of political and financial uncertainty.

“Gold prices at this moment serve for investors risk aversion demand and gold for the immediate short term will be well supported because of the volatility in the equity markets,” said Mark To, head of research at Hong Kong’s Wing Fung Financial Group.

“The previous $1,300 to $1,350 trading range for gold price could gradually move up to $1,330 to $1,380 because of the risk aversion.”


Company: cnbc, Activity: cnbc, Date: 2018-04-02  Authors: source, world gold council
Keywords: news, cnbc, companies, trade, support, mounting, financial, slips, investors, prices, previous, eased, gold, aversion, wing, china, worries, risk, offer


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Dollar steadies as risk aversion ebbs, yields rise

The dollar steadied on Friday after coming off the week’s lows against its peers as earlier risk aversion in global financial markets receded, pushing up U.S. yields. The dollar index against a basket of six major currencies was little changed at 93.822. The dollar had bounced overnight from a one-month low of 112.470 yen midweek as an ebb in investor confidence halted a surge in global equities and lifted the Japanese currency. “While the comeback in equities has stopped the recent decline in T


The dollar steadied on Friday after coming off the week’s lows against its peers as earlier risk aversion in global financial markets receded, pushing up U.S. yields. The dollar index against a basket of six major currencies was little changed at 93.822. The dollar had bounced overnight from a one-month low of 112.470 yen midweek as an ebb in investor confidence halted a surge in global equities and lifted the Japanese currency. “While the comeback in equities has stopped the recent decline in T
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Company: cnbc, Activity: cnbc, Date: 2017-11-16  Authors: matt cardy, getty images
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Dollar steadies as risk aversion ebbs, yields rise

The dollar steadied on Friday after coming off the week’s lows against its peers as earlier risk aversion in global financial markets receded, pushing up U.S. yields.

The dollar index against a basket of six major currencies was little changed at 93.822.

The index had edged up overnight to pull away from a four-week trough of 93.402 set on Wednesday. Wall Street shares rallied overnight after sagging through much of the week, causing a 4 basis points jump in the long-term Treasury yield to shore up the dollar.

The greenback was a shade lower at 112.935 yen.

The dollar had bounced overnight from a one-month low of 112.470 yen midweek as an ebb in investor confidence halted a surge in global equities and lifted the Japanese currency.

“While the comeback in equities has stopped the recent decline in Treasury yields, focus remains on U.S. tax reforms,” said Junichi Ishikawa, senior forex strategist at IG Securities in Tokyo.

“Yields cannot rise much further when it is unclear whether tax reforms can go through this year. Dollar/yen can test the 114.00 handle but lacks momentum for a sustained surge under such conditions.”

The U.S. House of Representatives on Thursday approved a broad package of tax cuts sought by President Donald Trump. The debate now moves to the Senate, where Republican majority is smaller and no decisive action is expected until after next week’s Thanksgiving holiday.


Company: cnbc, Activity: cnbc, Date: 2017-11-16  Authors: matt cardy, getty images
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Asian shares gain as risk aversion takes a backseat; Nikkei rises 1.1%

The dollar edged up against a basket of currencies following overnight gains, with the dollar index at 93.717 at 3:08 p.m. HK/SIN. The stock closed up 3.83 percent as Citi analysts upgraded the Japanese firm to “buy/high risk” from “neutral” in an Aug. 14 note. Toshiba shares were still a “risky investment,” but the possibility of delisting has decreased, the note said. Also concerning Toshiba, a California state court issued a preliminary injunction granting Western Digital access to data store


The dollar edged up against a basket of currencies following overnight gains, with the dollar index at 93.717 at 3:08 p.m. HK/SIN. The stock closed up 3.83 percent as Citi analysts upgraded the Japanese firm to “buy/high risk” from “neutral” in an Aug. 14 note. Toshiba shares were still a “risky investment,” but the possibility of delisting has decreased, the note said. Also concerning Toshiba, a California state court issued a preliminary injunction granting Western Digital access to data store
Asian shares gain as risk aversion takes a backseat; Nikkei rises 1.1% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-08-14  Authors: cheang ming
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Asian shares gain as risk aversion takes a backseat; Nikkei rises 1.1%

The gains in Asia came after major indexes stateside closed the Monday session significantly higher as investors looked past geopolitical tensions that had clouded markets for most of last week. The Dow Jones industrial average gained 0.62 percent, or 135.39 points, to end at 21,993.71. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 12.3, down about 20 percent.

The dollar edged up against a basket of currencies following overnight gains, with the dollar index at 93.717 at 3:08 p.m. HK/SIN. The greenback also firmed against the yen, with the U.S. currency last fetching 110.41 yen, climbing back to the 110 handle seen before geopolitical tensions ramped up last week.

“Traders cited the easing of tensions with North Korea as the war of words appears to have abated, but the move appeared to be a classic short covering rally as the dollar rebounded after several days of heavy selling,” said BK Asset Management Managing Director of FX Strategy Boris Schlossberg in a Monday evening note.

Tensions appeared to de-escalate further, as North Korean leader Kim Jong Un told state media Tuesday that he would observe actions taken by the U.S. before making further decisions, Reuters reported. North Korea had said last week it was considering plans to strike Guam.

“Historically, shares have been adversely affected initially on the uncertainty of wars — or threatened wars — with a potential significant economic impact, but have tended to rally well before the conflict is over,” said AMP Capital Head of Investment Strategy and Chief Economist Shane Oliver in a note.

With geopolitical risk easing, investors could turn their focus back to monetary policy, IG Market Strategist Jingyi Pan told CNBC. “The rest of the week holds (the release of) Fed minutes ahead of the Jackson Hole meeting next week, and those are expected to be the key items for markets to watch,” she added.

In corporate news, Melco International Development proposed a spin-off for its Macau resort Studio City, with plans to list the unit in the U.S., the company said in a filing to the Hong Kong Exchange Monday evening. Melco’s stock was up 2.74 percent on the news, with most other Hong Kong-listed gaming plays turning negative in the second half of the day: Wynn Macau was up 1.85 percent, but Galaxy Entertainment erased earlier gains to trade 0.11 percent lower.

Also of note, the Commonwealth Bank of Australia may claw back bonuses from executives if required, the Australian Financial Review reported Monday, citing the bank’s chairman Catherine Livingstone. CBA Chief Executive Ian Narev’s bonus was scrapped last week as the lender deals with a money-laundering scandal.

CBA stock closed down 0.07 percent, as other Australian financials made gains: ANZ ended 1.29 percent higher after reporting a 5.3 percent rise in third-quarter cash profit while National Australia Bank advanced 0.59 percent by the end of the session.

Meanwhile, the Australian dollar sank after inching higher against the dollar after the Reserve Bank of Australia warned of the currency’s strength and household debt levels in minutes of the central bank’s latest policy meeting. The Aussie dollar traded at $0.7827 at 3:09 p.m. HK/SIN, after trading as high as $0.7876 earlier in the day.

Other market movers included Toshiba. The stock closed up 3.83 percent as Citi analysts upgraded the Japanese firm to “buy/high risk” from “neutral” in an Aug. 14 note. Toshiba shares were still a “risky investment,” but the possibility of delisting has decreased, the note said.

Also concerning Toshiba, a California state court issued a preliminary injunction granting Western Digital access to data stored on Toshiba subsidiary Toshiba Memory Corporation’s databases. Toshiba said it would comply with the order in a statement, adding that the move would not affect its memory business.

Still in Japan, Fujifilm shares closed 7.69 percent higher after the company reported record profit in the quarter ending in June on Monday, according to Reuters.

On the energy front, oil prices were mostly steady after falling more than 2.5 percent overnight. Brent crude edged up 0.02 percent to trade at $50.74 a barrel and U.S. West Texas Intermediate crude shed 0.08 percent to trade at $47.56. Oil fell on Monday as the dollar recovered and soft China demand data revived investor worries about oversupply in oil markets, according to Reuters.

— CNBC’s Fred Imbert contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2017-08-14  Authors: cheang ming
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