— Gold rose for a third straight day, posting its biggest weekly increase since November after a report showed a surprise slowdown in U.S.
Treasury yields sank on the news as risk appetite faded and the dollar weakened, boosting demand for gold as an alternative asset.
Gold has rebounded after a poor start to the year, when it came under pressure from gains in the dollar and bond yields.
Palladium dropped as much as 4.1% as traders booked profit after a price rally that sent the emission-curbing metal to fresh record highs.
firms added in April give Federal Reserve policymakers little reason to do anything but keep the monetary policy tap wide open until it is clear the economy is on a path back to full employment.
John Canavan, lead analyst at Oxford Economics, said the report reinforced the idea the Federal Reserve can stick with its current monetary policy for longer, which led to intermediate yields outperforming longer-dated yields, steepening the yield curve between five-year notes and 30-year bonds.
MGM Resorts International, which owns the Borgata, said in a statement Friday it has dropped its litigation against Atlantic City’s Ocean Casino Resort, following a settlement agreed to by both parties.
The data eased worries the Federal Reserve would reduce its massive stimulus program anytime soon and was seen as helping President Joe Biden push through his plans for trillions of dollars in new spending on infrastructure and education.
The event, coming less than a year after the Fed had to inject $2 trillion into the bond market in the space of about five weeks to keep it from a complete melt down, “highlighted the importance of continued focus on Treasury market resilience,” the Fed said in its semi-annual Financial Stability Report.
With a jump of more than 350% in its price this year, ethereum has the second-largest market capitalization after bitcoin, but not as much cache and perhaps more operational challenges that could prevent it from eclipsing its major rival.
My wife is retired, and I work part time in my profession, currently grossing approximately $50,000 a year.
A mass of attention has been brought to semiconductor companies as supply-chain constraints have reduced the availability of everything from cars to laptops to gaming consoles.