Gold ETFs set for biggest sales since March as haven demand ebbs

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By Eddie Spence Gold exchange-traded funds headed for the biggest weekly outflow since March as the prospect of a coronavirus vaccine curbed demand for a haven. Investors have sold almost 18 tons from ETFs so far this week after Pfizer Inc.’s announcement of progress on a shot sparked hopes of a turning point in the … Read more

While millions lost jobs, some executives made millions in company stock

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Even as millions of people have lost their jobs during the pandemic, the soaring stock market since the spring has delivered outsize gains to the wealthiest Americans. And few among the superrich have done as well as corporate executives who received stock awards this year. Edward Stack, chief executive of Dick’s Sporting Goods, and William … Read more

The Covid crisis exposed what financial reformers missed

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By Bill Dudley After the U.S. financial system came to the brink of collapse in 2008, Congress and regulators spent years on renovations designed to prevent that from ever happening again. More than six months into a global pandemic that has delivered another monumental shock, it’s worth asking: Were the reforms successful and sufficient? The … Read more

Fed’s Powell warns of weak recovery without enough government aid

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By Matthew Boesler In one of his strongest appeals to date, Federal Reserve Chair Jerome Powell warned of a weak US recovery without sufficient government aid and said providing too much stimulus wouldn’t be a problem. Powell’s remarks Tuesday came amid Republicans’ opposition to a larger relief package that’s kept talks with Democrats at a … Read more

Why Powell’s address at Jackson Hole could make or mar markets

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The Jackson Hole congregation of money policymakers will be a pale affair this year, as the Covid-19 crisis has forced the annual event to go virtual this year. Yet, investors around the globe would be glued to the event keenly this year, hoping for US Federal Reserve Chair Jerome Powell to drop some signals on … Read more

Fed minutes show FOMC backs away from September guidance shift

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By Christopher Condon, Matthew Boesler and Craig Torres US central bankers appeared to back off from an earlier readiness to clarify their guidance on the future path of interest rates when they met in July. “With regard to the outlook for monetary policy beyond this meeting, a number of participants noted that providing greater clarity … Read more

Gold prices today fall on profit booking, near Rs 53,300 per 10 gram

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NEW DELHI: Gold and silver saw profit booking after a sharp rise in the previous sessions amid rising worries over the fast rising Covid-19 crisis that is still creating disruptions in people’s lives. India has reported 27.7 lakh virus cases by now with over 53,000 deaths. Meanwhile, investors are also looking forward to minutes of … Read more

Ahead of Market: 12 things that will decide stock action on Friday

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NEW DELHI: Nifty ended July F&O series on a weak note on Thursday and formed a bearish candle on the daily chart. Technical indicators like the RSI have seen a negative crossover from the overbought scenario on the daily scale, which doesn’t bode well for the bulls, but an overall lower VIX is ruling out … Read more

King dollar’s decline ripples across the globe

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An accelerating decline in the US dollar is reverberating around the world, adding fuel to a global momentum rally that has boosted prices for everything from technology stocks to gold. The US dollar index, which measures the greenback against six other major currencies, is down around 9% from its March highs and is on track … Read more

A hedge fund bailout highlights how regulators ignored big risks

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By Jeanna Smialek and Deborah B. Solomon WASHINGTON: As the coronavirus began shuttering the global economy in March, critical parts of US financial markets edged toward collapse. The shock was huge and unexpected, but the vulnerabilities were well known, the legacy of risk-taking outside of regulatory reach. To head off a devastating downward spiral, the … Read more