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CNBC
20 minutes ago
- CNBC
Gold rebounds from two-week low; Trump-Zelenskiy meeting in focus
Gold rose after hitting a two-week low, supported by lower U.S. Treasury yields as investors awaited U.S. President Donald Trump's meeting with Ukrainian President Volodymyr Zelenskiy and European leaders to discuss a peace deal with Russia. Spot gold was up 0.3% at $3,345.64 per ounce, as of 0156 GMT on Monday, after hitting its lowest level since August 1. U.S. gold futures for December delivery rose 0.3% to $3,391.80. "Gold was on the back foot to start the day, but ... was able to reverse course with buyers stepping up to around the $3,330 level as a value play. U.S. treasury yields gave up some of Friday's gains which also helped to make life easier for the gold price," said Tim Waterer, chief market analyst at KCM Trade. European leaders are set to join Zelenskiy for discussions with Trump. Russia would relinquish tiny pockets of occupied Ukraine and Kyiv would cede swathes of its eastern land which Moscow has been unable to capture, under peace proposals discussed by Russia's Vladimir Putin and Trump at their Alaska summit, sources briefed on Moscow's thinking said. "We are seeing limited moves in either direction ahead of what could be some lively meetings in the White House this week with Zelenskiy back in town," Waterer said. Meanwhile, benchmark 10-year U.S. Treasury yields eased from more than two-week high level. Investors are also looking ahead to the Federal Reserve's annual symposium in Jackson Hole, Wyoming. Economists polled by Reuters largely expect the Fed to announce a rate cut in September, its first this year, with a possible second cut by the year-end amid mounting U.S. economy woes. Non-yielding bullion, considered a safe-haven assets during periods of uncertainity, tends to perform well in low-interest-rate environment. Elsewhere, spot silver rose 0.3% to $38.08 per ounce, platinum gained 0.8% to $1,346.61 and palladium was up 1.3% to $1,126.85.
Yahoo
24 minutes ago
- Yahoo
Newsom Trolls ‘TACO Trump' With a Truth Social-Style All-Caps Rant After Missed Ultimatum Deadline
California Gov. Gavin Newsom trolled President 'DONALD 'TACO' TRUMP' with an all-caps social media post, complete with run-on sentences and random quotation marks, announcing California's response to Republican gerrymandering. Facing the prospect of losing control of the House of Representatives during next year's midterm elections, Trump has pressured several red states to immediately redraw their congressional districts to give Republicans an advantage. The maps are usually redrawn once every 10 years, after the census is completed, and not mid-decade. On Monday, Newsom sent the president a letter asking him to call off the 'unprecedented, mid-decade, hyper-partisan gerrymander to rig the upcoming midterm elections.' 'If you will not stand down, I will be forced to lead an effort to redraw the maps in California to offset the rigging of maps in red states,' he wrote. 'But if the other states call off their redistricting efforts, we will happily do the same. And American democracy will be better for it.' Newsom then followed up Tuesday with a trolling all-caps post saying Trump had 24 hours to respond to his letter, and when that failed, he went full MAGA, writing in a social media post: 'DONALD 'TACO' TRUMP, AS MANY CALL HIM, 'MISSED' THE DEADLINE!!! CALIFORNIA WILL NOW DRAW NEW, MORE 'BEAUTIFUL MAPS,' THEY WILL BE HISTORIC AS THEY WILL END THE TRUMP PRESIDENCY (DEMS TAKE BACK THE HOUSE!).' Among Wall Street traders, the president's flip-flopping on tariff policy earned him the nickname 'TACO' for Trump Always Chickens Out. Newsom's post further announced a 'BIG PRESS CONFERENCE THIS WEEK WITH POWERFUL DEMS AND GAVIN NEWSOM — YOUR FAVORITE GOVERNOR — THAT WILL BE DEVASTATING FOR 'MAGA.' THANK YOU FOR YOUR ATTENTION TO THIS MATTER! — GN.' The Daily Beast has reached out to the White House for comment. Facing record-low polling numbers, Trump launched a redistricting arms race last month when he asked Texas for 'just a simple redraw' of its congressional maps to help Republicans pick up five seats in the Lone Star State. Democrats vowed to retaliate in states like California, New York and Illinois, prompting Republicans to eye states like Republican-controlled states such as Ohio and Indiana. Unlike Texas, though, California has an independent commission that draws political maps, and Newsom will need to push through a special ballot measure in November to carry out his redistricting plans. During an interview Tuesday with Fox News, Florida Gov. Ron DeSantis claimed California's commission was a 'ruse' and the state map is already gerrymandered. 'The Thirst Queen has emerged,' Newsom's office hit back on social media. 'We will not be lectured on democracy by someone who lost to a cartoon mouse with gloves.' Florida became locked in a battle royale with The Walt Disney Company in 2022 when Disney's former CEO Bob Chapek vowed to work to overturn a 2022 state law—colloquially known as the 'Don't Say Gay' law—that prohibited classroom discussion of sexuality. DeSantis retaliated by working with Republican lawmakers to pass a measure revoking Disney's self-governing status. Disney sued, and the case was settled in 2024. The Daily Beast has reached out to DeSantis' office for comment.
Yahoo
25 minutes ago
- Yahoo
Trump Vows MSNBC Host ‘Will Be Fired' in Truth Social Rampage
President Donald Trump has taken aim at MSNBC host Nicolle Wallace in a bizarre social media rant. The drama started when 79-year-old Trump kicked off his Sunday morning with a cryptic post on Truth Social. 'Bela,' he wrote, leaving his followers to debate the meaning of the word. In a reply, one user posted a doctored photo of Wallace with a 'Karen' haircut and a red nose alongside the text, 'Typhoid Mary Nicole Wallace,' 'Clown news,' and 'Nicole Wallace is afraid of losing her job. Get her a Waaambulance.' A fake news ticker showed the MSNBC logo alongside the word 'misinformation.' Wallace, who now hosts Deadline: White House on MSNBC, was former White House communications director under President George W. Bush. 'She is a loser, with bad ratings, who was already thrown off of The View,' Trump replied on Sunday. 'She will be fired soon! MSNBC IS DEAD!' The post came after the president shared his disdain for members of the media after he met with President Vladimir Putin in Alaska on Friday, where he failed to secure a ceasefire. Before the meeting on Friday, Trump firmly stated that Putin could expect 'severe consequences' if he didn't agree to end the fighting in Ukraine. But the president has since changed his tune, saying achieving peace will require territorial concessions from Ukraine. He is slated to meet with Ukrainian President Volodymyr Zelensky on Monday. 'It's incredible how the Fake News violently distorts the TRUTH when it comes to me,' he raged. 'There is NOTHING I can say or do that would lead them to write or report honestly about me. I had a great meeting in Alaska on Biden's stupid War, a war that should have never happened!!!' In a second post, Trump added, 'If I got Russia to give up Moscow as part of the Deal, the Fake News, and their PARTNER, the Radical Left Democrats, would say I made a terrible mistake and a very bad deal. That's why they are the FAKE NEWS!'
