Traders Ready for CPI and Apple Partners with OpenAI
Jun 11, 2024
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A lively discussion with James Steel on the bullish case for gold and other commodities, followed by Virginie Maisonneuve's insights on US inflation expectations and reactions to EU elections. Lauren Goodwin covers the Fed's challenges and the impact of rate cuts on asset allocation. Gene Munster reacts to Apple partnering with OpenAI for artificial intelligence advancements.
Gold market dynamics influenced by individuals more than asset managers
Apple's AI entry focuses on privacy-sensitive features for consumer appeal
Deep dives
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Global Gold Demand Shifts and China's Role in Gold Market
Gold market dynamics are shifting, where individuals on the ground, rich and poor, influence gold demand more than asset managers or hedge funds. Central bank demand from countries like China influences gold investments, driven by economic factors like the property market and equity markets. Central banks, including China's, have been steadily accumulating gold reserves, contributing to fluctuations in gold prices and demands for both bullion and coins.
Silver Market Dynamics and Industrial Demand
Silver's market sees rising demand, with a 24% increase this year, largely driven by industrial use accounting for over 50% of overall demand. The silver market's smaller volume compared to gold often leads to a price lift when gold prices surge. Despite sluggish industrial growth forecasts, silver's industrial demand is outpacing overall sector growth.
Apple's Advancements in Artificial Intelligence and Potential Impact on Stocks
Apple's entry into artificial intelligence (AI) with transformative features, requiring hardware upgrades for access, poised to attract consumer interest. The company's AI focus on small models for privacy-sensitive areas like messages and photos sets a foundation for future AI developments. Analysts expect Apple's positive earnings revisions in the next one to three years, potentially enhancing growth rates to around 10-12% by 2026.
Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene and Paul SweeneyJune 12th, 2024 Featuring:
James Steel, Chief Commodities Analyst at HSBC, talks about the bull case for gold and discusses other commodities
Virginie Maisonneuve, Global CIO: Equity at Allianz, discusses US inflation expectations and the market reaction to EU elections
Lauren Goodwin, Chief Markets Strategist at New York Life, discusses the Fed's tightrope and the impact of rate cuts on asset allocation
Gene Munster, Managing Partner at Deepwater Asset Management, reacts to the Apple-OpenAI artificial intelligence partnership