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Washington CNN  —  US stocks wavered Tuesday after Federal Reserve Chair Jerome Powell said a “lack of further progress” on inflation means the central bank likely won’t cut interest rates at its upcoming policy meeting just two weeks away, keeping them higher for longer. Stocks seesawed after Powell’s comments, closing mixed Tuesday. The Dow rose 64 points, or 0.2%. The S&P 500 fell 0.2% and the Nasdaq Composite lost 0.1%. Meanwhile, the 2-year Treasury yield topped 5% on Tuesday before retreating below that threshold to about 4.96%. “The recent data have clearly not given us greater confidence” that inflation is headed toward the central…

The Biden-Harris Administration today released its first set of draft rules that propose to provide student debt relief for tens of millions of borrowers across the country. These plans were announced last week by President Biden in Madison, Wisconsin. If implemented as proposed, these plans, and others announced by the President, would bring the total number of borrowers getting relief under the Biden-Harris Administration to more than 30 million. To date, the Biden-Harris Administration has taken historic action to approve debt cancellation for nearly 4.3 million borrowers, totaling $153 billion in debt forgiveness through various actions. “Today's announcement shows that…

The risk of a global recession is "fairly minimal," Pierre-Olivier Gourinchas, the International Monetary Fund's economic counsellor, told CNBC. Good news include strong economic performance by the U.S. and several emerging market economies, along with inflation falling faster than expected until recently, despite weaker growth in Europe. However, threats to economic growth remain from escalating tensions in the Middle East. One of the International Monetary Fund's top economists signals little risk of a global recession, despite the ongoing rumblings of geopolitical uncertainty. The Washington DC-based institute this week nudged its global growth outlook slightly higher to 3.2% in 2024 and…

China’s gold markets under strain as horde of new buyers hunts for stable investment. April has been a busy month for the Hualin International Jewelry Market in Guangzhou. A scrum of eager buyers has descended upon the venue, looking to join a new gold rush as prices soar and the precious metal takes on new life as a vehicle for investment. Standing out as one of the few bets considered safe in China at present – with stocks, property and banking having lost their lustre in an environment of heightened uncertainty – gold has not only attracted new buyers, but…

Submitted by QTR's Fringe FinanceThere are few things I like more about NBA basketball than when a player gets so hot that it seems as though they can't miss a shot, no matter where they are shooting from. The legendary video game NBA Jam captured this beautifully, for those that remember.A “heat check” is when a hot player takes what would normally be a shot that's borderline absurd because they are feeling so good and confident in their ability that they feel like they can “push it” a little. The difficult shot is supposed to be the determining factor as to whether…

(Bloomberg) -- Gold steadied near a record high, even as investors weighed a shift in messaging from Federal Reserve Chair Jerome Powell, who said the US central bank will likely keep rates on hold for longer than originally planned.Most Read from BloombergThe precious metal is up about 15% so far this year, with gains partially driven by haven demand as geopolitical tensions in the Middle East and Ukraine continue to escalate.Bullion closed little changed on Tuesday after Powell said that it’s appropriate to give the Fed’s restrictive policy further time to work, and pointed to the lack of additional progress…

[embedded content]Embark on a thrilling financial journey as we explore the intricate history of silver pricing, highlighting significant chart patterns and predictions that suggest a monumental surge in silver's value. Dive deep into the relationship between the expanding currency supply since 1980 and silver's potential ascent to an astonishing $921 per ounce, supported by technical and economic analyses.This video is not just an exploration but a homage to the steadfast silver investors, offering insights into global trading shifts and strategic investment changes that hint at a lucrative future for silver. Get ready for a blend of nostalgia and sharp financial…

Right now, the electric vehicle ownership experience is optimized for the owner who lives in a single-family home. A level 2 home AC charger costs a few hundred dollars, and with a garage or carport, an EV that gets plugged in each night is an EV that starts each day with a 100 percent charged battery pack. Plenty of Ars readers have told us that a 120 V outlet even works for their needs, although perhaps better for Chevy Bolt-sized batteries rather than a Hummer EV.   Read the article…………………………….

(Bloomberg) -- Volatility in the currency market is surging as traders bet renewed concerns over geopolitical tensions in the Middle East and faster-than-expected inflation in the US will propel the dollar higher.Most Read from BloombergA gauge for hedging swings in major currencies over the next month has jumped to the highest since January. The latest leg of the move was sparked by Iran’s attack on Israel, and comes after strong US inflation data last week fueled speculation the Federal Reserve will have to hold monetary policy tight for longer.It’s a sudden turnaround for volatility, which only a month ago was…

Key highlights:The Shanghai Gold Benchmark PM (SHAUPM) in RMB jumped by 10% in March and the LBMA Gold Price AM in USD rose by 8%. The SHAUPM ended Q1 with a 10% gain, outperforming major local asset classes124t of gold left the Shanghai Gold Exchange (SGE) in March, a mild 3t fall from February as the surging gold price dented demand. But Q1 wholesale gold demand rose to its highest since 2019, totalling 522tChina’s gold price premium retreated in March, reflecting weakened local gold demand in the face of the soaring gold price. But the first quarter as a whole…

Deutsche Bank has announced an upward revision of its gold price forecasts, now expecting the precious metal to reach $2,400 per ounce by the end of this year and $2,600 by December 2024. It follows the more bullish stance taken by Goldman Sachs, which, on Monday, adjusted its forecast to $2,700 per ounce, up from $2,300, in recognition of a robust bull market. Both financial giants cite heightened investment inflows and escalating geopolitical tensions as key drivers behind their revised forecasts. Middle East conflict is supporting the safe-haven status of the metal, which overnight took on a new dimension as Israel vowed…

Gold prices continued its rally as Middle East tensions spurred demand, lifted by the bullion's safe haven appeal. Gold prices notched another record close Monday, with the most-active June contract for gold futures settling at $2,383 per ounce. An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023.  Chalinee Thirasupa | Bloomberg | Getty Images Gold prices continued to hover near record highs days after Middle East tensions flared, boosting the safe-haven appeal of bullion. Gold prices notched another record close Monday, with the most-active June contract for…