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Bullion has lost more than 3% this month, its worst January performance since 2011.
By Ranjeetha Pakiam, Bloomberg
28 Jan 2021 10:28
Image: Andrey Rudakov/Bloomberg
Gold fell after the Federal Reserve left its benchmark interest rate unchanged and stuck with the current pace of bond-buying, aiding the dollar and putting bullion on course for the worst start to a year in a decade.
The Fed repeated it would maintain bond-buying at $120 billion per month until âsubstantial further progressâ toward employment and inflation goals has been made. After the Federal Open Market Committeeâs first meeting of 2021, Chair Jerome Powell said it would take âsome timeâ to achieve the threshold for altering purchases, making clear the central bankâs not close to tapering them.
U.S. Stocks Advance as Day-Trader Frenzy Eases: Markets Wrap
Bloomberg 1/28/2021 Vildana Hajric and Lu Wang
(Bloomberg) U.S. equities mounted a comeback from their worst loss since October as moves to limit retail traders’ speculation in some companies opened the door for hedge funds to load up on stocks they had been ditching.
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The S&P 500 Index rose 1% after trading platforms restricted activity in stocks whipsawed by internet chatter, from GameStop Corp. to AMC Entertainment Holdings Inc. and American Airlines Group Inc. Hedge funds that had shorted the stocks were burned in recent days, forcing them to reduce holdings in shares they loved in order to cut risk.
U.S. Stocks Advance as Day-Trader Frenzy Eases: Markets Wrap
Bloomberg 1/28/2021 Vildana Hajric and Lu Wang
(Bloomberg) U.S. equities mounted a comeback from their worst loss since October as moves to limit retail traders’ speculation in some companies opened the door for hedge funds to load up on stocks they had been ditching.
Popular Searches
The S&P 500 Index rose 1% after trading platforms restricted activity in stocks whipsawed by internet chatter, from GameStop Corp. to AMC Entertainment Holdings Inc. and American Airlines Group Inc. Hedge funds that had shorted the stocks were burned in recent days, forcing them to reduce holdings in shares they loved in order to cut risk.
U.S. Stocks Advance as Day-Trader Frenzy Eases: Markets Wrap
Bloomberg 1/28/2021 Vildana Hajric and Lu Wang
(Bloomberg) U.S. equities mounted a comeback from their worst loss since October as moves to limit retail traders’ speculation in some companies opened the door for hedge funds to load up on stocks they had been ditching.
Popular Searches
The S&P 500 Index rose 1% after trading platforms restricted activity in stocks whipsawed by internet chatter, from GameStop Corp. to AMC Entertainment Holdings Inc. and American Airlines Group Inc. Hedge funds that had shorted the stocks were burned in recent days, forcing them to reduce holdings in shares they loved in order to cut risk.
U.S. stocks advance as day-trader frenzy eases
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U.S. equities mounted a comeback from their worst loss since October as moves to limit retail tradersâ speculation in some companies opened the door for hedge funds to load up on stocks they had been ditching.
The S&P 500 Index rose 1 per cent after trading platforms restricted activity in stocks whipsawed by internet chatter, from GameStop Corp. to AMC Entertainment Holdings Inc. and American Airlines Group Inc. Hedge funds that had shorted the stocks were burned in recent days, forcing them to reduce holdings in shares they loved in order to cut risk.