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High Gold Prices Dampen Demand in Asia’s Leading Markets

Physical gold demand in Asia dwindled on the back of sky-high prices as consumers abstained from making fresh purchases, forcing dealers to offer deep discounts last seen a year earlier in India and lower premiums in China this week.“Gold is behaving in a characteristically price elastic way which is to say consumers are responding to elevated prices by scaling back purchases rather than chasing the market higher,” said Ross Norman, an independent analyst based in London. In top consumer China, gold premiums slipped to $15-$25 per ounce over benchmark prices, from $20-$36 a week earlier. Premiums were at their lowest…

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A Break from Tradition: How the Fed’s Recent Policies Have Cost US Households

(Bloomberg) -- When the Federal Reserve raises interest rates, US households — in aggregate — usually get a boost to interest income that outweighs the extra cost of servicing debt. Not this time.Most Read from BloombergThe annual interest bill that Americans pay on mortgages, credit cards and other debt has climbed by almost $420 billion since the Fed started tightening policy in March 2022, according to the latest numbers from the Bureau of Economic Analysis. The rise in interest income over the same period was only about $280 billion.The upshot: Unlike every other Fed hiking cycle of the past half…

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All Eyes on the Federal Reserve: What To Know This Week

The major US stock indexes have backed off record highs ahead of the Federal Reserve's all-important March meeting.On Wednesday, that tension will finally be resolved.The US central bank is set to release its latest monetary policy decision and updated economic projections at 2:00 p.m. ET on Wednesday afternoon, with investors looking for an answer to one key question: Does the Fed still think it will cut rates three times in 2024?Recent data showing inflation hasn't dropped as fast as expected has pushed out market forecasts for Fed rate cuts this year to three from six. The question, then, is whether…

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Silver Prices Dip as Prospects of Early Fed Rate Cuts Diminish

Silver price corrects after nearing the top of a major range at circa $26.00. The decline could be as a result of fading hopes the Federal Reserve will cut interest rates in the near term.  Long-term fundamentals however support, including positive global growth and robust demand.   Silver price (XAG/USD) pulls back at the start of the week and is trading in the $25.10s  after reaching close to the top of a long-term range. It is possible the correction is due to a change in expectations regarding the future path of interest rates, which are now expected to remain higher for…

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Mixed Economic Signals Challenge Fed’s Next Move in the Inflation Battle

What’s consumers’ relationship with the economy these days? It’s complicated.As last year drew to a close, inflation appeared to be heading decisively downward, consumer confidence was shooting higher, and many Americans’ wages were finally outpacing price increases. In the early months of 2024, those trends have been a little harder to see, at least on the surface.The annual inflation rate has bounced around north of 3% for months, the latest retail sales data came in soft, and wholesale prices took an unexpectedly higher leap. None of that has much rattled markets, where investors remain confident that the Federal Reserve will…

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Gold Beans: The New Investment Craze Among China’s Youth

Gold, the leading commodity, has drawn investors’ attention by reaching a new all-time high of $2,195 per ounce. Now, young Chinese investors are deploying capital to accumulate gold beans and other gold jewelry for wealth protection. Interestingly, these beans have become very popular among China’s Generation Z, due to their accessibility by weighing one gram each. Therefore, around $76, if we would consider Gold’s price index of $2,155 per ounce. However, each gold bean costs around 600 yuan, or $84.5, as reported by Bloomberg. This is mainly due to the beans’ costs of production and China’s premium on the commodity…

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Goldman Anticipates Bank of Japan Finally Ending Negative Rates

(Bloomberg) -- Goldman Sachs Group Inc. now expects the Bank of Japan will raise interest rates for the first time since 2007 at Tuesday’s meeting, after stronger wage outcomes and a number of news articles over recent days suggested a move is afoot.Most Read from Bloomberg“These developments imply that the BOJ probably no longer needs more data for the policy change, nor to wait to justify the policy change with the quarterly Economic Outlook report in April,” economist Tomohiro Ota wrote in a note dated March 18.The BOJ is set to exit yield curve control completely while maintaining the current…

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INTERVIEW: 85% of ship engines ordered in 2030 likely to be dual-fueled: MAN Singapore

Highlights Dual-fuel engine orders grew from 35% in 2021 to 56% in 2022 Demand for LNG engines to "stay robust" despite volatile gas markets To grow headcount in Singapore to around 400 by 2027 MAN Energy Solutions expects the order book for dual-fuel engines to ratchet, with around 85% of all ship engines ordered in 2030 to be dual-powered, as the global shipping industry speeds up maritime decarbonization efforts, its Singapore Managing Director Nicolas Brabeck said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The 2030 estimates compare to just around 35% dual-fuel engines…

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Colombia’s gas demand set to climb as government removes gasoline subsidies

Highlights Conversions to natural gas surged 63% in 2023 Natural gas fuels market expanding quickly Colombia may require more imports long term Thousands of Colombian car owners are converting their vehicles to natural gas as the nation's first left-wing government strips away gasoline subsidies that had been in place for decades while providing tax breaks for cars that run on natural gas. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now As more people in Colombia seek less-expensive fuel alternatives, demand for fuels derived from natural gas is expected to climb by 8% a year…

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Florida’s Housing Market Sees Price Drop Amid Insurance Crisis

The number of "motivated sellers" in Florida has grown in the past two weeks, as more homeowners are trying to offload their properties quickly amidst a worsening of the state's insurance crisis.As of Wednesday morning, 204,833 properties, including single-family and multi-family homes, apartments, condos, townhomes, and lots, were listed for sale on Zillow. Of these, 5,244 were listed by self-described motivated sellers—homeowners and agents willing to accept a lower offer than the price listed on their ads.When Newsweek reported on the issue on February 28, there were 4,928 listings in Florida of properties whose sellers described themselves as motivated sellers…

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