Gold Gains to Three-Week High as U.S. Slowdown Fans Haven Demand
Thursday,03/03/2016|18:20GMTby
Bloomberg News
Gold futures reached a three-week high as weaker-than-expected U.S. factory orders and slower growth in service industries boosted demand for...
Gold futures reached a three-week high as weaker-than-expected U.S. factory orders and slower growth in service industries boosted demand for the metal as a haven.
Growth in U.S. service industries slowed for a fourth straight month in February, prompting the first job cuts in two years, according to a report by the Institute for Supply Management Thursday. The group’s employment measure dipped below the expansion threshold for the first time since February 2014. Applications for jobless claims unexpectedly climbed last week, a Labor Department report showed Thursday.
Gold rallied 19 percent this year, beating gauges in Treasuries, currencies and Equities amid concerns the slowdown in global growth will hurt the U.S. economy. That’s also fueling bets the Federal Reserve may delay interest rate increases this year, helping boost the investment appeal for bullion, which doesn’t pay yields or dividends.
“The big rally this year is drawing more interest from across the spectrum of investors, including some who haven’t been involved in the space for some time,” said Tai Wong, the director of commodity products trading at BMO Capital Markets Corp. in New York.
Gold futures for April delivery jumped 1.3 percent to settle at $1,258.20 an ounce at 1:43 p.m. on the Comex in New York. Prices reached $1,261.30, the highest since Feb. 11.
Through Jan. 5, hedge funds and other large speculators had been net-short on gold for eight straight weeks. The trend reversed on Jan. 12, and as of last week, their net-wagers on price gains reached the highest in a year, according to U.S. government data.
The bullish sentiment is also being reflected in Exchange -traded funds. Investors boosted holdings in gold-backed ETFs by 251.9 metric tons this quarter, poised for the biggest such gain since the three months ended June 2010. Holdings have been increasing after three straight years of withdrawals.
Silver, palladium and platinum also climbed
A Bloomberg Intelligence gauge of gold producers rose 2.9 percent, led by Yamana Gold Inc. and Kinross Gold Corp., which gained 6.9 percent and 6.7 percent, respectively
To contact the reporters on this story: Joe Richter in New York at jrichter1@bloomberg.net, Luzi Ann Javier in New York at ljavier@bloomberg.net. To contact the editors responsible for this story: James Attwood at jattwood3@bloomberg.net, Millie Munshi
Gold futures reached a three-week high as weaker-than-expected U.S. factory orders and slower growth in service industries boosted demand for the metal as a haven.
Growth in U.S. service industries slowed for a fourth straight month in February, prompting the first job cuts in two years, according to a report by the Institute for Supply Management Thursday. The group’s employment measure dipped below the expansion threshold for the first time since February 2014. Applications for jobless claims unexpectedly climbed last week, a Labor Department report showed Thursday.
Gold rallied 19 percent this year, beating gauges in Treasuries, currencies and Equities amid concerns the slowdown in global growth will hurt the U.S. economy. That’s also fueling bets the Federal Reserve may delay interest rate increases this year, helping boost the investment appeal for bullion, which doesn’t pay yields or dividends.
“The big rally this year is drawing more interest from across the spectrum of investors, including some who haven’t been involved in the space for some time,” said Tai Wong, the director of commodity products trading at BMO Capital Markets Corp. in New York.
Gold futures for April delivery jumped 1.3 percent to settle at $1,258.20 an ounce at 1:43 p.m. on the Comex in New York. Prices reached $1,261.30, the highest since Feb. 11.
Through Jan. 5, hedge funds and other large speculators had been net-short on gold for eight straight weeks. The trend reversed on Jan. 12, and as of last week, their net-wagers on price gains reached the highest in a year, according to U.S. government data.
The bullish sentiment is also being reflected in Exchange -traded funds. Investors boosted holdings in gold-backed ETFs by 251.9 metric tons this quarter, poised for the biggest such gain since the three months ended June 2010. Holdings have been increasing after three straight years of withdrawals.
Silver, palladium and platinum also climbed
A Bloomberg Intelligence gauge of gold producers rose 2.9 percent, led by Yamana Gold Inc. and Kinross Gold Corp., which gained 6.9 percent and 6.7 percent, respectively
To contact the reporters on this story: Joe Richter in New York at jrichter1@bloomberg.net, Luzi Ann Javier in New York at ljavier@bloomberg.net. To contact the editors responsible for this story: James Attwood at jattwood3@bloomberg.net, Millie Munshi
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Executive Interview | Jas Shah | FMLS:25
Executive Interview | Jas Shah | FMLS:25
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
Vitalii Bulynin Talks About Versus Trade, New Pairs, and Big Plans
Vitalii Bulynin Talks About Versus Trade, New Pairs, and Big Plans
In this interview, Versus Trade Co-Founder Vitalii Bulynin explains how the company got its license fast, why its trading pairs are fresh and fun, and what the team will build next.
He also discusses the most active pairs, the IB and MIB plans, and hiring needs for new markets.
Watch the whole talk to learn more about how Versus Trade works and where it is heading.
#financemagnates #VersusTrade #TradingPairs #BTCvsGold #goldtrading #innovation
In this interview, Versus Trade Co-Founder Vitalii Bulynin explains how the company got its license fast, why its trading pairs are fresh and fun, and what the team will build next.
He also discusses the most active pairs, the IB and MIB plans, and hiring needs for new markets.
Watch the whole talk to learn more about how Versus Trade works and where it is heading.
#financemagnates #VersusTrade #TradingPairs #BTCvsGold #goldtrading #innovation
Marketing in 2026 Audiences, Costs, and Smarter AI
Marketing in 2026 Audiences, Costs, and Smarter AI
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
