Latest news with #RobertGottlieb
Business Insider
2 days ago
- Business
- Business Insider
Gold Gushing to $4,000 an Ounce as Trump Slaps Tariffs on Bullion Bars
The gold price could be on the march to $4,000 an ounce after reports that the U.S. is imposing tariffs on bullion bars. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Import Levies The spot gold price climbed 0.4% to $3,401 an ounce and gold futures raced to fresh highs above $3,500 after reports that 1kg and 100-ounce gold bars would be subject to import levies by the U.S. Customs and Border Protection Agency. The move threatens to disrupt global trade flows from Switzerland and other key trading and refining hubs including London and Hong Kong. Switzerland's gold exports have become a flashpoint in its trade negotiations with the U.S., after a surge in shipments earlier this year caused the U.S.'s trade deficit with the country to spike. Bullion traders had expected gold bars to be exempt from Trump's tariff tirade, including the 39% rate imposed on Switzerland. 'Gold is moved back and forth between central banks and reserves around the world,' said Robert Gottlieb, a former precious metals trader and managing director at JPMorgan Chase, referring to the bars. 'We never ever thought that it would be hit by a tariff.' Safe Haven AJ Bell head of financial analysis Danni Hewson added: 'Sustained by factors like its safe haven credentials and a weakening dollar in 2025 – this latest development will have gold bugs eyeing the $4,000 level.' The gold price has already been on quite the tear this year because of global trade and economic uncertainty. It has surged over 28% as can be seen below. Markets are now increasingly pricing in the chance of a cut next month following weak economic data including a slowdown in the U.S. services sector in July and job numbers. Indeed, there is a 95% chance of a rate cut in September, according to CME's (CME) FedWatch tool. Lower interest rates are good news for gold as they make holding non-yielding assets more attractive. What are the Best Gold ETFs to Buy Now? We have rounded up the best Gold ETFs to buy now using our TipRanks comparison tool.
Business Mayor
24-05-2025
- Automotive
- Business Mayor
Fox and IndyCar Put Faces to Indianapolis 500 With Help From Macy's and Letterman
Rolling into this weekend's Indianapolis 500, both the NTT IndyCar series and Fox are moving at top speed toward their goals for the collaboration. In June 2024, IndyCar announced that it was shifting partners from NBCUniversal to Fox and putting all 17 of its races, plus two days of qualifying rounds for the Gainbridge-sponsored Indy 500, on live network broadcasts. The circuit saw immediate dividends during its opening race in St. Petersburg, when Fox drew an audience of 1.42 million—a viewership level IndyCar hadn't hit since the 2011 Indianapolis 500 and 45% higher than last year's opener on NBC, according to Sports Media Watch. As Fox announced during its upfront earlier this month, IndyCar viewership is up 25% on Fox from the same time last year. That didn't happen in a vacuum, as Fox began marketing IndyCar in fall and early winter during its college football and National Football League broadcasts, using its other Fox Sports properties to boost awareness of IndyCar. 'We were able to use that platform to start advertising and talking about IndyCar and the drivers to a wide audience, and that was an important part of the liftoff of the new season and the new relationship with Indy continued that through the playoffs and the Super Bowl,' said Robert Gottlieb, president of marketing at Fox Sports. 'We've used our NASCAR broadcast, beginning with the Daytona 500, which has large amounts of motorsports fans, and we're able to talk to them a lot about IndyCar, and so that all led to a pretty virtuous circle that delivered us to our opener at St Petersburg.' Read More Goodbody Stockbrokers to cut 20 jobs amid Iseq exodus Gottlieb considers the Indianapolis 500 broadcast an inflection point for Fox's IndyCar coverage, with much of it building to this stage. During the Super Bowl, Fox's IndyCar ads focused on 26-year-old Mexican driver Pato O'Ward, who dabbles in Formula 1 with McLaren and came in second at last year's Indy 500 after a raucous final lap. The campaign also featured reigning champion Josef Newgarden, who's going for his third-consecutive victory after winning the previous two races in Indianapolis on the last lap. businessmayor May 23, 2025
