Saturday, October 1, 2022
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Why the gold is the market’s favorite?

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Today we have seen the huge appetite for a gold that reminded us the situation two years ago, in times of crisis.
Gold is always a steady investment that can save money during the uncertain situation at the market. Future of Comex went high.
The ounce of the Spot gold cost 1,371.40 dollars this day. It is the highest price since spring 2014. An ounce of the Comex gold climbed 0.7 percent and was sold by 1,368.80 dollars.
Analysts believe that gold has always was in demand, and after the Brexit decision, it increased the value of this metal.
Savings of the Gold Trust Company climbed to 31.6 million ounces. It is the biggest their catch during three years.
The love to gold rose after the official announce from three big property funds in Britain. They have stopped trading for 24 hours.
While the gold is at its peak, futures of oil lose the profit. June was the month with the highest ranks of oil, according to the OPEC data.
Yesterday Brent has lost 4.3 percent, and today was steady with 47.97 dollars per barrel. WTI lost 5 percent, and today was offered by 46.61 dollars.
While the traders afraid of the new consequences from Brexit, American dollar is strengthening.

Why the reactor from Indian Point was closed?

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The reasons for closing the reactor are unknown. It was very unexpectedly.
Westchester County has two reactors with nuclear energy in the Energy Center of Indian Point. One of them was recently closed.
It was shut down just after the workers began to test the electrical systems this Wednesday.
The owner of this plant is the Entergy Corp. It released an official statement just after Unit 2 closure. The spokesperson of the Corp, Patricia Kakridas has assured the press that employees do not need any medical attention and there was no radioactivity noticed.
The reactor was closed by its own automatically system at 9.30 in the morning. The main mystery is this reactor is programmed to do that only if there is something unexpected happening.
The spokeswoman confirmed that there is an investigation, and experts are trying to understand the reason of shutdown.
It was unplanned, according to official data. And it is the first closure for this reactor in 2016 year. However, during 2015 year, Unit 3 reactor has three shutdowns during a year. Each time it has different causes.
This reactor in Unit 2 did not work for a couple of months during the routine refueling. It happens each 18 months. And after few days of work, on June 24 it was closed on purpose to make the electrical testing and to repair an old pipe.
Last time Unit 2 reactor was automatically closed in 2015.

Viacom still wants to sell its Paramount Pictures stake

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It has 49 percent of Paramount shares, and recently its representatives asked the judge from Delaware to accelerate the proceeding. It seems like they want to take off their hands Paramount’s shares.
And there are two reasons for them to hurry up, as far as we can see. The first reason is the weak health of Sumer Redstone, the media mogul and the owner of the Inc. The second reason is that the Paramount Pictures’ value of assets can lose its high price, with the uncertain situation in the market.
This profitable movie studio in the peaceful Melrose Avenue has turned into the main nightmare of the Redstone’s officials. This empire has 40 billion profits. And the intense battle has begun right after the official announcement of the Viacom plans to sell the stake.
According to the lawyers of Viacom, the head of the company, Philippe Dauman has planned to use the piece of Paramount as the catalyst to make changes in the leadership of the company. MTV, Nickelodeon, VH1, Comedy Central also belong to this company. So they were captured in this crazy turmoil.
This Thursday, attorneys asked the judge to speed up the whole procedure. They also agreed on the fast examination of the competency for the ill media magnate in his 93 years old.
Judge must consider all the facts, and decide whether to dump the main board members of Viacom with Dauman was legal and if it was an adequate decision.

The weekly report from the market

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While the market is not ready to take high bids, and the situation with the Italian bank is unclear, the data at the USA jobs report brings some positive to the situation.
American funds that are focused on the precious metals investments attract more money from the February. According to the official data of Thomson Reuters’ agency, these funds received 2 billion dollars only during last week.
The situation is perfect for the gold manufacturers as far as it is the stable haven for all global investors. And since the euro and British pound constantly fall down, American national currency attract more attention to itself.
The British decision touched the European economy and lowered down the investments. And now, the world is expecting the help from American economy to bring the stability.
The data from the USA payrolls, published on Thursday, was mainly positive. It has a higher increase than it was expected by the Federal Reserve.
These positive numbers can be a reason for the new round of the weakness of the currency.
The pound is partly stable, and today it is equal to 1.2945 dollars, and it is the cent higher from the last year’s lowest number. This week it lost 2.8 percent.
Euro is equal to 1.10775 today.
And Japanese yen rose to 100.51 for one dollar.

The increase of Starbucks prices

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It is true, the prices in Starbucks have been raised and people are definitely not happy about that.
Prices for the coffee in Starbucks are going up, and the mood of its customers is definitely down. The situation repeats itself.
The recent statement from the Starbucks Corp. says that there was a glitch in their main computer, and it overcharged the customers.
It is not just the mistake in 30 cents. The company is going to increase the price on the permanent base.
The start of the new practice will be July 12. So you can just run quickly to the nearest Starbucks and order as much coffee as your body can handle.
However, there will be only a few drinks that become more expensive. Officials did not give its names yet.
However, on Twitter Starbucks customers have already created the campaign for predictions and probably further strike.
First weeks of the second summer month have already become traditionally busy for Starbucks Corp. as far as they always raise the prices on July year after year.
The glitch was accidental and the customers were overcharged by 30 cents, at least. However, Starbucks is still going to make the changes in the price policy.
For those who were overcharged before the official price increase, the company proposes to call on their hotline.
We also believe that there may be different costs for the same Starbucks drinks in different areas in one country, and of course abroad.

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