Australia’s official bullion mint, Perth Mint, says there was “no question” about the gold value and purity of its gold bars sold to Chinese customers, which indisputably contained at least 99.99 percent gold “at all times.” It comes in response to an investigation by the Australian Broadcasting Corporation (ABC), which found the mint may need…
‘Never Been in Dispute’: Sold Gold Bars Were 99.99 Percent in Purity, Says Perth Mint
Closing Prices for Crude Oil, Gold and Other Commodities (Mar. 7)
March 7, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for April delivery fell $2.88 to $77.58 a barrel Tuesday. Brent crude for May delivery fell $2.89 to $83.29 a barrel. Wholesale gasoline for April delivery fell 10 cents to $2.70 a gallon. April heating oil fell 9 cents to $2.80 a gallon. April natural gas rose 12 cents to $2.69…
Used Car Prices Push Higher in Sign of Inflation Stuck in High Gear
American used car prices climbed even higher as inflation continues to rise, according to a recent report. It appears unlikely that car buyers will get good bargains for used cars or trucks this spring, with wholesale used vehicle prices surging for a third consecutive month in a row in February. Cox Automotive’s Mannheim Used Vehicle Value…
US Housing Affordability Hits 16-Year Low
Home affordability has hit its lowest level in more than 16 years, with a median household now forced to spend over 40 percent of its income to afford a home. In December 2022, the average U.S. household would have had to spend 42.9 percent of its income to afford a home with a median price…
Wall Street Slips at Open as Investors Await Powell’s Testimony
Wall Street’s main indexes opened marginally lower on Tuesday in cautious trading ahead of Federal Reserve Chair Jerome Powell’s testimony before Congress that could shed more light on the central bank’s interest rate hike plans. The Dow Jones Industrial Average fell 3.13 points, or 0.01 percent, at the open to 33,428.31. The S&P 500 opened…
Bank of America CEO Sees US Technical Recession in 3rd Quarter
SYDNEY—Bank of America Chief Executive Officer Brian Moynihan said on Tuesday the U.S. economy would reach a technical recession starting in the third quarter. Moynihan told The Financial Review’s Business Summit in Sydney a U.S. recession would not be deep and the bank forecast interest rates would start falling in the second quarter of 2024….
Dollar Steady Before Powell Testimony; Aussie Slips
SINGAPORE/LONDON—The U.S. dollar held steady on Tuesday ahead of testimony before Congress by Federal Reserve Chair Jerome Powell, while the Aussie slid after the Reserve Bank of Australia hinted it might nearly be done with monetary tightening. The Australian dollar was the day’s major G10 mover, sliding as much as 0.79 percent to $0.6679, its…
Oil Steady as Market Juggles Supply and Demand Fears
March 7, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were little changed on Tuesday after five sessions of gains, with weak oil data from top crude importer China balanced by concern over supply. Brent crude futures fell 22 cents, or 0.26 percent, to $85.96 a barrel by 1043 GMT. U.S. West Texas Intermediate crude was down 16 cents, or 0.2 percent, at…
Global Shares Mixed as Investors Watch Fed Moves, Inflation
March 7, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global shares were mixed in muted trading Tuesday as investors tried to digest a slew of economic data and awaited moves by the U.S. Federal Reserve. France’s CAC 40 fell 0.1 percent in early trading to 7,363.24. Germany’s DAX added nearly 0.1 percent to 15,659.63. Britain’s FTSE 100 edged up less than 0.1 percent to…
Closing Prices for Crude Oil, Gold and Other Commodities (Mar. 6)
March 6, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for April delivery rose 78 cents to $80.46 a barrel Monday. Brent crude for May delivery rose 35 cents to $86.18 a barrel. Wholesale gasoline for April delivery rose 5 cents to $2.80 a gallon. April heating oil fell 2 cents to $2.89 a gallon. April natural gas fell 44 cents…
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