Gold hits a new record following Powell’s historic speech on prolonged high-interest rates, reshaping the precious metals market. Gold’s Roller Coaster: Highs and Lows Amid Economic Uncertainty. Gold’s recent rally to record highs, spurred by Federal Reserve Chair Jerome Powell’s historic speech, has hit a stumbling block. The...

Gold’s Surge to a Record High: Analyzing Powell’s Impact on the Precious Metals Market

Prices of the red metal have been climbing steadily in recent weeks, paring losses after falling to a four-month low in early August. Saxo Bank's Ole Hansen said copper's recent rally had been bolstered by renewed demand from hedge funds which had previously cut their exposure "during the recent and deep 24% correction."

Copper prices near six-week high as one strategist says the 'worst of the correction is over'

Markets Insider

Gold jumped past $2,500 an ounce on Friday, reaching a new high. The metal is rallying on bets the Fed will soon cut rates.

Why gold prices just hit a record

Gold prices reached record highs in July and August, driven by economic instability and geopolitical tensions. Palladium and platinum prices faced bearish pressure due to weak demand and concerns about a global economic slowdown. Silver prices experienced volatility, rallying briefly before declining due to weak industrial demand. Analysts predict gold...

How Long Will Gold’s Record-Breaking Rally Last?

CBS New York

Fear, long absent in financial markets as investors bet on a "soft landing" for the U.S. economy, is back in the air on Wall Street.Stocks tumbled Friday after new government data showed a steep decline in hiring in July, spurring concerns that economic activity is slowing faster than economists expected. Two hours into the session, the blue-chip Dow Jones Industrial Average was down 984 points, or 2.4%, to 39,415. The broader S&P 500 sank 2.5%, while the tech-heavy Nasdaq Composite lost nearly 3%, fueled by disappointing quarterly earnings from bellwethers such as Amazon and Intel. Market analyst Adam Crisafulli of Vital Knowledge...

Dow plunges nearly 1,000 points amid sharp drop in U.S. hiring

NEW YORK (August 15) Gold has seen its best performance in decades in 2024 amid its climb to a new record high of $2,483.35, and while the yellow metal has struggled to rally above $2,480 on three separate occasions, one analyst says it's only a matter of time before it succeeds and breaks above $2,500.

Gold and silver to rally through the end of 2024, copper likely to lag

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NewsNinja

"They accidentally gave us 2 washers and a dryer when we only ordered 1 of each". Last month, Lowe’s experienced a glitch that lowered the price of its $2,300 Midea jumbo capacity refrigerator to just $169.

‘Lowe’s messed up’: Shopper says they got $2,300 fridge at Lowe’s for just $169

The British pound has been one of the best-performing currencies in recent weeks, driven by a good run of UK data and expectations that the Bank of England will not cut interest rates at its upcoming meeting. However, there are signs that a correction may be imminent, as the GBP/USD...

British Pound (GBP) Price Action Ideas: Sterling Set for Correction? GBP/USD, EUR/GBP and GBP/JPY

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Emily Standley Allard

Are people getting more high maintenance or is it just me? One thing that you can't deny is that CERTAIN people require a lot more TLC and attention, on the daily and especially during trying times. This applies to both platonic relationships and romantic. We usually call these people high maintenance because, well, they usually require (or demand!) all of your efforts and then some to be satisfied. These characteristics are closely linked to their zodiac sign temperament, so read on to see who is on the list!

5 Zodiac Signs that are the Highest Maintenance and Most Demanding

CBS News

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  Over the last three years, average mortgage rates have almost doubled. On August 19, 2021, the average 30-year fixed rate was 2.86%. By comparison, today's average 30-year mortgage rate is 6.57%. This uptick in rates has made purchasing a home less affordable for many buyers.  In addition, home prices have hit record highs this year, putting the possibility of homeownership out of range for many.That said, on a positive note, mortgage rates have fallen more than half a percentage...

Will mortgage rates drop below 6% this fall? Experts weigh in

If you’re planning to squeeze in one last summer road trip over the coming Labor Day weekend, it won’t cost as much to fill up your tank compared to a few months ago. The national average for a gallon of regular has fallen more than 20 cents since May and is now at $3.38 — about 47 cents lower than this time a year ago. Experts say the trend is likely to continue in the coming months, possibly leading to $3-a-gallon gasoline for the first time since 2021.

Gas prices are down. We could be headed for lows not seen since 2021

Gold prices climbed 1% as the dollar and Treasury yields retreated following Federal Reserve Chair Jerome Powell comments signaling an interest rate cut in September. Spot gold rose 1.15% to $2,511.91 per ounce, but was off a record high of $2,531.60 hit on Tuesday. U.S. gold futures gained 1.19% to $2,546.70.

Gold gains 1% as Powell comments hint at September cut

Georgia State

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Daily Coffee Press

According to officials with the Southern District of Georgia, two recently unsealed federal indictments have charged 23 defendants in a series of broad conspiracies involving the use of drones to smuggle methamphetamine, marijuana, and cell phones into state prisons in Georgia.

23 Defendants Charged in Federal Indictments for Drone-Smuggling Drug Operation in Georgia

Reuters

NEW YORK (Reuters) - The average rate on the popular U.S. 30-year fixed-rate mortgage ticked down this week to the lowest level since May 2023, but may need to fall further for the housing market to see significant improvement in demand.

US 30-year fixed-rate mortgage slips to lowest level since May 2023

Irvine, CA

NewSantaAna

The Irvine Police Department’s Spectrum team was notified of a woman shoplifting at Sephora on Wednesday. When loss prevention tried to stop her, she refused to stop. As the Spectrum team arrived, loss prevention lost the suspect in the parking lot. An excellent citizen told the officers they observed the suspect enter a white Tesla and crawl into the trunk.

Shoplifter arrested after hiding in her Tesla’s trunk at the Irvine Spectrum

According to some commentators, to counter inflation interest rates in the US must increase to a level that effectively restrains the economy. It is held that this increase in interest rates does not have to cause a recession if Fed’s policy makers could orchestrate a “soft landing.” The economy is portrayed as a spaceship that occasionally deviates from a path of “stable” economic growth and “stable” prices. All that is required to fix the problem is for the central bank to give a suitable “push” to the economy (i.e., the spaceship) to bring it back to the right growth path.

The Fable of the Economic “Soft Landing”

The Associated Press

Wall Street notched another record high Tuesday, even as major stock indexes barely budged after a listless day of trading. The Dow Jones Industrial Average rose 9 points, or less than 0.1%, which was good enough for its second all-time high in two days. The index is on an eight-day winning streak.

Stock market today: Dow Jones Industrial Average inches up to another record high in mixed trading

Powell, of course, is counting on his plane continuing to glide down toward that soft landing on the tarmac as he gooses its economic engines just a little, slowing the rate of descent. In the past, when the Fed has attempted this kind of interest-cut maneuver while inflation was still above target after a period of battling high inflation, the plane took off before even touching down, and we rose right back into the inflated clouds in the skies far above.

Inflation is Forever

Jacksonville, FL

Jacksonville Today

A historic marker could be erected to honor the victims of the racist mass shooting at the Dollar General store in Jacksonville’s New Town neighborhood nearly a year ago. If approved by the Jacksonville City Council, a marker would be installed at Kings Road and Canal Street on Aug. 25, a day before the first anniversary of the shooting, when a white gunman took the lives of three Black people.

Memorial considered to honor Dollar General victims

Corinth, MS

Joshua Colston, a 50-year-old resident of Corinth, Mississippi, has been sentenced to 48 months in federal prison for illegally possessing firearms while traveling through Georgia.

Man Sentenced to 48 Months for Illegal Firearms Possession while traveling through Georgia

NewsBreak

Gold price holding near record highs as U.S. durable goods orders rise 9.9% in July

NEW YORK (August 26) The gold market continues to trade around record highs as the U.S. manufacturing sector continues to show a muddled picture of the...

Gold price holding near record highs as U.S. durable goods orders rise 9.9% in July

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