Ice glazes over a wide swath of the US as wind chills fall below zero

Wind chills will bring temperatures into teens in the New York City area and down to minus 40 degrees Fahrenheit (minus 40 degrees Celsius) in upstate New York, the National Weather Service predicted. Temperatures across the Great Lakes, Ohio Valley and the Mid-Atlantic will drop 10 to 20 degrees Fahrenheit below average, the service said. The freeze will follow the weekend’s run-ins with power outages, canceled trains and planes, overnight stays at the airport and traffic jams. Local officials


Wind chills will bring temperatures into teens in the New York City area and down to minus 40 degrees Fahrenheit (minus 40 degrees Celsius) in upstate New York, the National Weather Service predicted. Temperatures across the Great Lakes, Ohio Valley and the Mid-Atlantic will drop 10 to 20 degrees Fahrenheit below average, the service said. The freeze will follow the weekend’s run-ins with power outages, canceled trains and planes, overnight stays at the airport and traffic jams. Local officials
Ice glazes over a wide swath of the US as wind chills fall below zero Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-21
Keywords: news, cnbc, companies, york, chills, service, zero, travel, fall, wind, wide, storm, vermont, system, canceled, ice, inches, swath, conditions, major, glazes


Ice glazes over a wide swath of the US as wind chills fall below zero

Bitter cold is setting in after a major winter storm blanketed a wide swath of the country in snow, sleet and rain this weekend, creating dangerously icy conditions that promise to complicate cleanup efforts and make travel challenging on Martin Luther King Jr. Day.

Some of the coldest temperatures felt so far this season started to set in across the Midwest and Northeast Sunday and are expected to plunge further overnight.

Wind chills will bring temperatures into teens in the New York City area and down to minus 40 degrees Fahrenheit (minus 40 degrees Celsius) in upstate New York, the National Weather Service predicted.

In New England, they’ll fall to as low as 20 F (29 C) below zero around Boston and as low as 35 F (37 C) below zero in parts of Vermont, Maine and New Hampshire, the service said.

Temperatures across the Great Lakes, Ohio Valley and the Mid-Atlantic will drop 10 to 20 degrees Fahrenheit below average, the service said.

“It’s life-threatening,” said Ray O’Keefe, a meteorologist with the National Weather Service in Albany. “These are dangerous conditions that we’re going to be in and they’re prolonged, right through tomorrow.”

The freeze will follow the weekend’s run-ins with power outages, canceled trains and planes, overnight stays at the airport and traffic jams.

Local officials warned residents to limit their time outside to prevent frostbite and to avoid treacherous travel conditions. They also said places could see strong wind gusts, flooding and further power outages.

Utilities in Connecticut reported more than 20,000 customers without power by Sunday afternoon.

“We had more freezing rain and sleet than we expected,” Hartford Mayor Luke Bronin said Sunday as public works crews across the state raced to clear and treat major roadways before dangerous black ice could form.

Amtrak canceled trains across the Midwest and Northeast over the weekend, but promised full service would resume Monday. Boston’s transit system urged commuters to allow 10 to 15 minutes of extra travel time and warned of icy conditions for pedestrians come Monday.

The storm — caused by the clash of an Arctic high-pressure system with a low-pressure system coming through the Ohio Valley — wreaked havoc on air travel and other forms of transportation all weekend.

More than 1,500 flights were canceled nationwide Sunday, according to FlightAware, a flight tracking company.

Among the hardest hit was Boston’s Logan Airport, where stranded passengers lingered Sunday as typically bustling security lines, ticketing counters and baggage claims were largely deserted.

Xavi Ortega, a 32-year old engineer from Spain, said he and his wife slept overnight at the airport after their Saturday night flight home to Barcelona was canceled. He said the couple hoped to board a flight Sunday night.

“We’ve been sleeping, playing Candy Crush,” Ortega said when asked how’d they been passing the hours.

A ferry service route across Lake Champlain between Vermont and New York was also closed Sunday and flights were mostly cancelled at major airports in Vermont and New Hampshire.

In the Midwest, where it dumped 10 inches (25 centimeters) of snow in parts, the storm caused a plane to skid on a slick runway at Chicago’s O’Hare International Airport on Saturday, though no injuries were reported.

In Kansas, a snowplow driver was killed when his vehicle rolled over, and in southeastern Missouri, slippery conditions caused a 15-vehicle crash on Interstate 55 on Saturday.

One saving grace of the storm: heavily populated coastal communities from New York to Boston largely escaped major snowfall after days of sometimes dire predictions.

Manhattan saw mostly rain while places along Connecticut, Rhode Island and Massachusetts’ coast recorded 2 to 5 inches (5 to 13 centimeters) of snow.

Mountain regions saw significantly more, to the delight of ski resort operators.

New York’s Adirondacks registered up to 20 inches (51 centimeters) while western Massachusetts’ Berkshires saw as much as 10 and parts of northern New England were on track to approach 24 inches of snow.

Nicholas Nicolet and his 6-year-old son Rocco welcomed the fresh powder as they cross-country skied on the sidewalks of Montpelier, Vermont early Sunday morning.

“We think it’s great,” Nicholas Nicolet said during the storm.

President Donald Trump urged Americans affected by the winter storm to “be careful” in a tweet early Sunday. But, as he’s done in the past, Trump conflated the short-term weather phenomenon with longer-term climate change.

The White House’s own National Climate Assessment recently rejected the idea that a particular plunge in temperatures can cast uncertainty on whether Earth is warming.

“Amazing how big this system is,” Trump tweeted. “Wouldn’t be bad to have a little of that good old fashioned Global Warming right now!”


Company: cnbc, Activity: cnbc, Date: 2019-01-21
Keywords: news, cnbc, companies, york, chills, service, zero, travel, fall, wind, wide, storm, vermont, system, canceled, ice, inches, swath, conditions, major, glazes


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Weekend winter storm sweeping from Midwest to New England

A winter storm started sweeping across the Midwest on Friday, leading to slick roads and runways, as it inched its way toward New England, where it was forecast to dump up to 2 feet of snow. The National Weather Service issued winter storm warnings from the Dakotas, across the Great Lakes states and into New England. The weather service at one point warned that conditions in New England over the weekend “could approach blizzard criteria.” The storm was expected to bring between up to 10 inches o


A winter storm started sweeping across the Midwest on Friday, leading to slick roads and runways, as it inched its way toward New England, where it was forecast to dump up to 2 feet of snow. The National Weather Service issued winter storm warnings from the Dakotas, across the Great Lakes states and into New England. The weather service at one point warned that conditions in New England over the weekend “could approach blizzard criteria.” The storm was expected to bring between up to 10 inches o
Weekend winter storm sweeping from Midwest to New England Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-18  Authors: matt mcclain, the washington post, getty images
Keywords: news, cnbc, companies, midwest, warned, service, winter, york, inches, england, expected, weather, sweeping, weekend, snow, storm


Weekend winter storm sweeping from Midwest to New England

A winter storm started sweeping across the Midwest on Friday, leading to slick roads and runways, as it inched its way toward New England, where it was forecast to dump up to 2 feet of snow.

The National Weather Service issued winter storm warnings from the Dakotas, across the Great Lakes states and into New England. The weather service at one point warned that conditions in New England over the weekend “could approach blizzard criteria.”

In Nebraska, where freezing drizzle was falling, authorities closed Omaha’s Eppley Airfield after a plane slid off an ice-slicked runway. No one was injured. The airport suspended all afternoon flights.

In Iowa, the Department of Transportation warned that visibility was less than a half mile in many locations due to snow and wind. And in South Dakota, where snow was starting to pile up, authorities warned drivers to give plows extra room.

The storm was expected to bring between up to 10 inches of snow to the Midwest before walloping the Northeast on Sunday. The National Weather Service in Albany, New York, said snow could fall at a rate of 1 to 3 inches an hour, creating “difficult to impossible travel conditions” in areas.

New York City is expected to see up to 6 inches. Amtrak canceled some trains Saturday from Chicago to Washington and New York and between New York and Boston and Pennsylvania on Sunday.

Chicago is forecast to receive as much as 8 inches by Saturday and wind gusts in the Chicago area are expected to reach 35 mph (56 kph).

Bitterly cold air was expected in the storm’s aftermath.


Company: cnbc, Activity: cnbc, Date: 2019-01-18  Authors: matt mcclain, the washington post, getty images
Keywords: news, cnbc, companies, midwest, warned, service, winter, york, inches, england, expected, weather, sweeping, weekend, snow, storm


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Storm punishes swath of US with snow, ice and freezing rain

Virginia State Police said the driver of a military surplus vehicle was killed late Saturday after he lost control on Interstate 81 because of slick road conditions. Virginia State Police said they responded to more than 300 traffic crashes and helped nearly 200 disabled vehicles in Virginia from midnight to late Sunday afternoon. The storm knocked out power to nearly 200,000 people in Virginia and North Carolina at its height Sunday, according to PowerOutage.us. The state’s western mountains an


Virginia State Police said the driver of a military surplus vehicle was killed late Saturday after he lost control on Interstate 81 because of slick road conditions. Virginia State Police said they responded to more than 300 traffic crashes and helped nearly 200 disabled vehicles in Virginia from midnight to late Sunday afternoon. The storm knocked out power to nearly 200,000 people in Virginia and North Carolina at its height Sunday, according to PowerOutage.us. The state’s western mountains an
Storm punishes swath of US with snow, ice and freezing rain Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: saul loeb, afp, getty images
Keywords: news, cnbc, companies, swath, rain, snow, punishes, region, centimeters, state, storm, freezing, maryland, virginia, ice, inches, nearly, power


Storm punishes swath of US with snow, ice and freezing rain

A winter storm that contributed to at least five deaths in the Midwest pummeled the mid-Atlantic region for a second day Sunday, bringing with it an icy mix that knocked out power, cancelled flights and contributed to hundreds of car accidents.

Virginia State Police said the driver of a military surplus vehicle was killed late Saturday after he lost control on Interstate 81 because of slick road conditions.

Police said Ronald W. Harris, 73, of Gainesville, Georgia, died after his vehicle was struck by two tractor-trailers. The two tractor-trailer drivers were taken to a hospital for injuries that were not life-threatening. The state medical examiner determined Sunday that Harris’ death was storm-related, police said.

Virginia State Police said they responded to more than 300 traffic crashes and helped nearly 200 disabled vehicles in Virginia from midnight to late Sunday afternoon.

The storm knocked out power to nearly 200,000 people in Virginia and North Carolina at its height Sunday, according to PowerOutage.us.

In North Carolina, Gov. Roy Cooper declared a state of emergency Sunday to help utility crews restore electricity more quickly after power lines fell because of freezing rain, ice and toppled trees. The state’s western mountains and foothills were hardest-hit along with the western Piedmont region and nearly 1,000 state transportation workers were called out to clear ice and snow.

The National Weather Service reported nearly a half-inch of ice in some sections of western North Carolina, leading to fallen trees and power lines but other areas of the state got mostly a cold rain or freezing precipitation.

Meanwhile, the storm caused headaches for travelers into and out of airports in the region, including more than 250 flight cancellations Sunday at the three main airports serving the nation’s capital. Washington’s Dulles International Airport tweeted that the Federal Aviation Administration had implemented a ground stop there on Sunday evening, impacting both inbound and outbound flights.

For air travelers, the Dullest airport authority subsequently tweeted tips for flying on a snow day, including frequently checking for airline flight changes and packing “patience, a good dose of snow humor & a packet of hot chocolate.”

By late Sunday afternoon, the Washington, D.C. metro area, northern Virginia and parts of Maryland had total snowfall accumulations ranging from five to eight inches (12-20 centimeters). Central Virginia, including Richmond, had much smaller accumulations — as little as one inch (2.5 centimeters)— but the snow was followed by hours of sleet and freezing rain.

Marc Chenard, a meteorologist with the Weather Prediction Center in College Park, Maryland, said parts of the region could expect snow to continue falling into Sunday evening.

“At this point, it is just going to head out to sea once it exits here this evening,” Chenard said.

Most public school systems in northern Virginia and Prince George’s County schools in suburban Maryland said classes would be cancelled Monday.

The storm also was affected parts of Maryland. In Baltimore, a man was fatally shot as he shoveled snow early Sunday morning. Police said a 43-year-old man was outside shoveling at 4:40 a.m. when an unidentified suspect shot him in the head and shoulder. The victim died at a hospital.

Meanwhile, Illinois was trying to dig out from under heavy snowfall in some areas.

Springfield’s State Journal-Register reports the state capital broke a 55-year record for daily snowfall on Saturday. It cited the National Weather Service as saying the 8.4 inches (21.3 centimeters) of snow that day in Springfield broke the previous record for a Jan. 12 in 1964 of 6.6 inches (16.7 centimeters). Some 11.5 inches (29 centimeters) of snow fell on Springfield over three days.

Among those killed in the Midwest during the storm was an Illinois state trooper struck by a car when he responded to a three-vehicle crash Saturday in suburban Chicago.

State Police Director Leo Schmitz told reporters that 34-year-old Christopher Lambert was headed home when he pulled over and got out of his squad car to respond to the accident. Schmitz said Lambert positioned his squad car to protect the other three cars and “took on the danger himself.”

For Kansas City Chiefs offensive guard Jeff Allen, there was a bright spot hen a Good Samaritan helped pull his vehicle out of the snow after he got stuck en route to Arrowhead Stadium for the divisional playoff game Saturday.

Allen said he made it on time for the Chiefs’ victory over the Indianapolis Colts because of the assistance. The man who helped Allen didn’t know he was a Chiefs player at the time.

Allen turned to Twitter to track down the Good Samaritan. When they connected Sunday morning, Allen thanked him and promised him tickets to next week’s AFC Championship game.


Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: saul loeb, afp, getty images
Keywords: news, cnbc, companies, swath, rain, snow, punishes, region, centimeters, state, storm, freezing, maryland, virginia, ice, inches, nearly, power


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

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


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump might have renominated Yellen for Fed chair if she wasn’t so… short, report says

President Donald Trump might have reappointed Janet Yellen to head the Federal Reserve if only she was a few inches taller. A Washington Post report that quoted current and former officials said Trump on multiple occasions discussed giving Yellen another term at the central bank but was concerned over her height. The report said he expressed his misgivings to National Economic Council members and noted that Yellen “impressed [Trump] greatly” during their interview. Trump has been harshly critica


President Donald Trump might have reappointed Janet Yellen to head the Federal Reserve if only she was a few inches taller. A Washington Post report that quoted current and former officials said Trump on multiple occasions discussed giving Yellen another term at the central bank but was concerned over her height. The report said he expressed his misgivings to National Economic Council members and noted that Yellen “impressed [Trump] greatly” during their interview. Trump has been harshly critica
Trump might have renominated Yellen for Fed chair if she wasn’t so… short, report says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: jeff cox, us federal reserve
Keywords: news, cnbc, companies, short, fed, wasnt, yellen, post, height, feet, inches, renominated, powell, president, trump, chair, report


Trump might have renominated Yellen for Fed chair if she wasn't so... short, report says

President Donald Trump might have reappointed Janet Yellen to head the Federal Reserve if only she was a few inches taller.

A Washington Post report that quoted current and former officials said Trump on multiple occasions discussed giving Yellen another term at the central bank but was concerned over her height. He feared that at 5 feet and 3 inches she just wasn’t tall enough to get the job done.

The report said he expressed his misgivings to National Economic Council members and noted that Yellen “impressed [Trump] greatly” during their interview.

There have been some tongue-in-cheek comparisons made in the past to the height of Fed chairs and their propensity to raise rates, with 6-foot-9 Paul Volcker being the most aggressive. Fed Chairman Jerome Powell is close to 6 feet tall.

Trump has been harshly critical of the Fed and Powell, whom he chose over Yellen. The president has objected to the interest rate increases under Powell, though Yellen also presided over hikes and the beginning of the reduction in the Fed’s balance sheet.

“Look, I took recommendations. I’m not blaming anybody,” Trump told the Post, despite reports that he blames Treasury Secretary Steven Mnuchin for recommending Powell.

For the full Post report, go here.

WATCH: What Will Cause The Next Recession – Gary Shilling Thinks It’s The Fed


Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: jeff cox, us federal reserve
Keywords: news, cnbc, companies, short, fed, wasnt, yellen, post, height, feet, inches, renominated, powell, president, trump, chair, report


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

More rain helps put out California fires, but raises landslide risk

More rain is on the way for northern California, helping firefighters extinguish the last of the wildfires, but increasing the risk of landslides in the scorched Sierra Nevada foothills. Between 1 to 3 inches (2.5-7.5 cm) of rain will fall between Friday and Sunday, adding to the 3 inches that already fell this week, the National Weather Service said. “Without that vegetation, all bets are off when the rain hits.” Hundreds of people forced to flee Paradise spent Thanksgiving in warehouses in the


More rain is on the way for northern California, helping firefighters extinguish the last of the wildfires, but increasing the risk of landslides in the scorched Sierra Nevada foothills. Between 1 to 3 inches (2.5-7.5 cm) of rain will fall between Friday and Sunday, adding to the 3 inches that already fell this week, the National Weather Service said. “Without that vegetation, all bets are off when the rain hits.” Hundreds of people forced to flee Paradise spent Thanksgiving in warehouses in the
More rain helps put out California fires, but raises landslide risk Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-23  Authors: david mcnew, afp, getty images
Keywords: news, cnbc, companies, helps, landslide, fires, rain, killed, volunteers, raises, risk, vegetation, weather, inches, thanksgiving, california, spent, remains, paradise


More rain helps put out California fires, but raises landslide risk

More rain is on the way for northern California, helping firefighters extinguish the last of the wildfires, but increasing the risk of landslides in the scorched Sierra Nevada foothills.

Between 1 to 3 inches (2.5-7.5 cm) of rain will fall between Friday and Sunday, adding to the 3 inches that already fell this week, the National Weather Service said.

At least 84 people died in the so-called Camp Fire which started more than two weeks ago, and as many as 560 are believed missing.

The fire was 95 percent contained across 154,000 acres, officials said early on Friday, in and around Paradise, a mountain town of nearly 27,000 people, some 175 miles (280 km) northeast San Francisco.

Hundreds of volunteers and police officers spent the Thanksgiving holiday combing through the wreckage, searching for the remains of victims killed in the blaze as the ongoing rains looked set to complicate their work.

“It’s the vegetation that holds the soil in place,” Brian Hurley, a forecaster with the NWS’s Weather Prediction Center in College Park, Maryland, said.

“Without that vegetation, all bets are off when the rain hits.”

Hundreds of people forced to flee Paradise spent Thanksgiving in warehouses in the nearby city of Chico. Celebrity chef Jose Andres was among the volunteers bringing some festive cheer by cooking Thanksgiving meals for evacuees.

The cause of the Camp Fire, which destroyed more than 13,500 homes, remains under investigation.

A separate California wildfire — the Woolsey Fire, which killed three people and threatened the wealthy beachfront enclave of Malibu near Los Angeles — was declared 100-percent contained on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2018-11-23  Authors: david mcnew, afp, getty images
Keywords: news, cnbc, companies, helps, landslide, fires, rain, killed, volunteers, raises, risk, vegetation, weather, inches, thanksgiving, california, spent, remains, paradise


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Gold inches down as safe haven demand lifts dollar

Gold prices eased slightly on Wednesday as the U.S. dollar was boosted by safe-haven demand as investors eyed U.S.-China tensions amid heightened risk aversion. The dollar firmed against its major peers on Wednesday, as investors shunned riskier assets in favour of safe haven currencies on heightened concerns about slowing global growth and the U.S.-Sino trade war. The dollar index was steady after it gained about 0.7 percent in the previous session, pulling away from a two-week trough of 96.042


Gold prices eased slightly on Wednesday as the U.S. dollar was boosted by safe-haven demand as investors eyed U.S.-China tensions amid heightened risk aversion. The dollar firmed against its major peers on Wednesday, as investors shunned riskier assets in favour of safe haven currencies on heightened concerns about slowing global growth and the U.S.-Sino trade war. The dollar index was steady after it gained about 0.7 percent in the previous session, pulling away from a two-week trough of 96.042
Gold inches down as safe haven demand lifts dollar Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-21
Keywords: news, cnbc, companies, ounce, silver, uschina, dollar, inches, gold, expected, previous, trade, haven, safe, demand, investors, trump, lifts


Gold inches down as safe haven demand lifts dollar

Gold prices eased slightly on Wednesday as the U.S. dollar was boosted by safe-haven demand as investors eyed U.S.-China tensions amid heightened risk aversion.

Spot gold dipped 0.1 percent to $1,220.36 per ounce at 0435 GMT.

U.S. gold futures were flat at $1,220.7 per ounce.

The dollar firmed against its major peers on Wednesday, as investors shunned riskier assets in favour of safe haven currencies on heightened concerns about slowing global growth and the U.S.-Sino trade war.

The dollar index was steady after it gained about 0.7 percent in the previous session, pulling away from a two-week trough of 96.042. Asian stocks fell, weighed down by a renewed bout of selling on Wall Street.

“The U.S. dollar increase will continue the headwinds for gold purely because gold is a dollar-denominated commodity,” said Argonaut Securities analyst Helen Lau.

“In the near-term people will start pricing in the ongoing turbulence in the equity markets so that should be supportive for gold,” Lau added.

The yellow metal has fallen about 10 percent since hitting a peak in April as investors bought the dollar with the U.S.-China trade war unfolding against a background of higher U.S. interest rates.

Investors are now keeping a close eye on the G20 leaders’ summit later this month in Argentina where U.S. President Donald Trump is expected to meet with Chinese President Xi Jinping to discuss the bilateral trade dispute.

The Trump administration on Tuesday said that China has failed to alter its “unfair” practices at the heart of the U.S.-China trade conflict.

Spot gold is expected to test a support at $1,211 per ounce, with a good chance of breaking below this level and falling more to $1,202, said Reuters technical analyst Wang Tao.

Among other precious metals, silver was down 0.2 percent at $14.29 an ounce. Silver hit its highest level since Nov. 8 at $14.49 in the previous session.

Palladium was little changed at $1,140.70 per ounce, while platinum was up 0.4 percent at $841.10 per ounce.

Trading volumes are expected to remain subdued ahead of the U.S. Thanksgiving holiday on Thursday.


Company: cnbc, Activity: cnbc, Date: 2018-11-21
Keywords: news, cnbc, companies, ounce, silver, uschina, dollar, inches, gold, expected, previous, trade, haven, safe, demand, investors, trump, lifts


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Dollar stands tall, inches closer to its 16-month high

The dollar built on last week’s gains and rose towards as 16-month high on Monday as traders expect the U.S. Federal Reserve to keep tightening monetary policy. The dollar index gained 0.12 percent on Monday, changing hands at 97.02, sitting a little below its 16-month high of 97.2 hit on Oct. 31. The dollar index has strengthened four weeks in row, gaining 0.37 percent last week. “The dollar index was firm all last week, bouncing back after the mid-term election results. The dollar has been pre


The dollar built on last week’s gains and rose towards as 16-month high on Monday as traders expect the U.S. Federal Reserve to keep tightening monetary policy. The dollar index gained 0.12 percent on Monday, changing hands at 97.02, sitting a little below its 16-month high of 97.2 hit on Oct. 31. The dollar index has strengthened four weeks in row, gaining 0.37 percent last week. “The dollar index was firm all last week, bouncing back after the mid-term election results. The dollar has been pre
Dollar stands tall, inches closer to its 16-month high Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: beawiharta
Keywords: news, cnbc, companies, fed, monetary, interest, 16month, plan, italys, inches, high, yen, brexit, dollar, index, tall, stands, closer, eu


Dollar stands tall, inches closer to its 16-month high

The dollar built on last week’s gains and rose towards as 16-month high on Monday as traders expect the U.S. Federal Reserve to keep tightening monetary policy.

The Fed has reaffirmed its plan to raise interest rates by 25 basis points in December, followed by two more potential rate hikes by mid-2019 on the back of an upbeat economy and rising wage pressures.

The greenback has also benefited from a safe haven bid as market participants moved away from riskier assets due to U.S.-Sino trade tensions, an economic slowdown in China, Brexit uncertainty, and the standoff between Rome and the European Union over Italy’s plan for a big-spending budget and wide fiscal deficit.

The dollar index gained 0.12 percent on Monday, changing hands at 97.02, sitting a little below its 16-month high of 97.2 hit on Oct. 31. The dollar index has strengthened four weeks in row, gaining 0.37 percent last week.

“The dollar index was firm all last week, bouncing back after the mid-term election results. Looking ahead, moves will be driven by the developments around the Italian budget and Brexit politics,” said Sim Moh Siong, currency strategist at Bank of Singapore.

The dollar gained 0.1 percent on the Japanese yen which quoted at 113.94 on Monday, near a 5-week low of 114.08. The dollar has been preferred over the yen because of the diverging monetary policies of the Fed and the Bank of Japan.

While the Fed is on track to raise interest rates, the BOJ is expected to keep its monetary policy ultra-loose in the face of slow growth and inflation.

The widening interest rate differential between U.S. and Japanese bonds has made the dollar a more attractive bet than the yen, which is often a funding currency for carry trades.

The British pound lost 0.25 percent to $1.2941 on Monday. Sterling has been weighed down by Brexit fears, with investors yet to see an orderly exit plan.

Less than five months before Britain is due to leave the EU on March 29, negotiations are still stuck over a backup plan for the land border between British-ruled Northern Ireland and EU member Ireland, should they fail to clinch a long-term deal.

Four British ministers who back remaining in the European Union are on the verge of quitting Theresa May’s government over Brexit, the Sunday Times reported, adding to the political uncertainty.

“Eventually, the EU and May will come to a deal. Both parties want to conclude the deal, but the only risk is whether May will still be Prime Minister. I expect sterling to remain choppy in its recent wide range,” added Sim Moh Siong.

The euro traded at $1.1322 on Monday, down 0.11 percent. The single currency lost ground versus the dollar in the previous three trading sessions as investor confidence weakened due to the standoff over Italy’s budget.

The European Commission (EU) rejected Italy’s 2019 budget last month, saying it flouted a previous commitment to lower the country’s deficit. The EU gave Rome until Tuesday to present a revised version of the budget.

The EU also cut its forecasts for Italian growth last week, adding to investor concerns over Italy’s debts and economic outlook.


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: beawiharta
Keywords: news, cnbc, companies, fed, monetary, interest, 16month, plan, italys, inches, high, yen, brexit, dollar, index, tall, stands, closer, eu


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Gold inches lower on firmer dollar; investors await Fed rate call

Higher U.S. interest rates tend to boost the dollar and also push up bond yields, reducing the appeal of non-yielding bullion. But for now, we think the Fed will continue with the monetary policy tightening,” said Benjamin Lu, a commodities analyst with Phillip Futures. Spot gold was down 0.2 percent at $1,223.70 per ounce, as of 0410 GMT, while U.S. gold futures fell 0.3 percent to $1,224.7 per ounce. Palladium fell 0.3 percent to $1,130.60 per ounce, after touching a two-week high of $1,139.50


Higher U.S. interest rates tend to boost the dollar and also push up bond yields, reducing the appeal of non-yielding bullion. But for now, we think the Fed will continue with the monetary policy tightening,” said Benjamin Lu, a commodities analyst with Phillip Futures. Spot gold was down 0.2 percent at $1,223.70 per ounce, as of 0410 GMT, while U.S. gold futures fell 0.3 percent to $1,224.7 per ounce. Palladium fell 0.3 percent to $1,130.60 per ounce, after touching a two-week high of $1,139.50
Gold inches lower on firmer dollar; investors await Fed rate call Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, dollar, rates, policy, fell, gold, inches, ounce, fed, await, rate, 02, twoweek, previous, investors, lower, firmer


Gold inches lower on firmer dollar; investors await Fed rate call

Gold prices inched lower on Thursday on the back of a stronger dollar as investors digested the U.S. midterm election results and turned their focus to the Federal Reserve’s monetary policy decision due later in the day.

The Fed is not expected to raise interest rates until its next gathering in December, however market participants are waiting to see whether it offers clues about possible rate increases in December and in 2019.

Higher U.S. interest rates tend to boost the dollar and also push up bond yields, reducing the appeal of non-yielding bullion.

“Gold has found support around $1,223. If we see good news from the Fed, we may see a bounce. But for now, we think the Fed will continue with the monetary policy tightening,” said Benjamin Lu, a commodities analyst with Phillip Futures.

Spot gold was down 0.2 percent at $1,223.70 per ounce, as of 0410 GMT, while U.S. gold futures fell 0.3 percent to $1,224.7 per ounce.

The dollar index, which measures the greenback against a basket of six major currencies, traded in a narrow range and was last up 0.2 percent, having touched a more than two-week low in the previous session.

“I suspect gold will ping pong along with the U.S. dollar as traders begin to re-evaluate the current state of the USD,” Stephen Innes, APAC trading head at OANDA in Singapore, said in a note.

Meanwhile, Asian stocks rose to a one-month peak following a post-election rally on Wall Street.

Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.19 percent to 755.23 tonnes on Wednesday, marking the fourth straight session on declines.

Spot gold still targets $1,211, said Reuters technical analyst Wang Tao.

In other precious metals, silver was down 0.2 percent at $14.54 per ounce.

Palladium fell 0.3 percent to $1,130.60 per ounce, after touching a two-week high of $1,139.50 an ounce in the previous session.

Platinum was 0.7 percent lower at $866.85 an ounce, after hitting its highest since June 25 at $877.50 an ounce on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, dollar, rates, policy, fell, gold, inches, ounce, fed, await, rate, 02, twoweek, previous, investors, lower, firmer


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Gold inches up on easing dollar, global concerns

Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions and slowing global economic growth lent support to the metal. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau. Gold is seen as a safe store of value during political and economic uncertainty. “Supportive price action around $1,210-$1,220 should restrict declines amid current global political


Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions and slowing global economic growth lent support to the metal. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau. Gold is seen as a safe store of value during political and economic uncertainty. “Supportive price action around $1,210-$1,220 should restrict declines amid current global political
Gold inches up on easing dollar, global concerns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22
Keywords: news, cnbc, companies, economic, week, gold, easing, concerns, support, political, inches, contracts, tensions, global, ounce, oct, dollar


Gold inches up on easing dollar, global concerns

Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions and slowing global economic growth lent support to the metal.

Spot gold was up 0.1 percent at $1,226.43 an ounce at 0745 GMT. On Oct. 15, the bullion touched its highest since July 26 at $1,233.26.

U.S. gold futures were up 0.1 percent at $1,229.40 an ounce.

“So far we are seeing a good recipe for gold prices to recover. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau. “If the tensions loom large we could see gold rebound through 1,300.”

The outlook for global growth in 2019 has dimmed for the first time, according to Reuters polls of economists who said the U.S.-China trade war and tightening financial conditions would trigger the next downturn.

Geo-political concerns including tensions between Saudi Arabia and the West over the killing of journalist Jamal Khashoggi, developments related to Brexit, and Italy’s budget woes are keeping investors interested in gold, analysts said.

Gold is seen as a safe store of value during political and economic uncertainty.

“Trade concerns between the U.S. and China remain elevated and the ongoing U.S.-Saudi tensions are likely to continue to underpin a bid tone for bullion over the near-term,” MKS PAMP Group traders said in a note.

“Supportive price action around $1,210-$1,220 should restrict declines amid current global political uncertainty, while a test through $1,230-$1,235 will likely squeeze further shorts out of the market and see gold toward $1,250.”

Gold speculators cut their net short position in COMEX gold contracts by 65,637 contracts to 37,372 contracts, the smallest since late July, in the week to Oct. 16, data showed.

Spot gold may either consolidate further below a resistance at $1,235 per ounce, or break a support at $1,217, to fall to the next support at $1,208, according to Reuters technical analyst Wang Tao.

Holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, fell 0.39 percent to 745.82 tonnes on Friday.

The U.S. dollar, which measures the greenback against a basket of six major currencies, was down 0.2 percent.

Among other precious metals, silver was up 0.4 percent at $14.65 per ounce, while platinum rose 0.8 percent at $836.20 per ounce.

Palladium climbed 0.9 percent to $1,089.80 per ounce, closer to an over eight-month peak of $1,096.80 hit on Oct. 11.


Company: cnbc, Activity: cnbc, Date: 2018-10-22
Keywords: news, cnbc, companies, economic, week, gold, easing, concerns, support, political, inches, contracts, tensions, global, ounce, oct, dollar


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post