Jeff Mason is a White House Correspondent for Reuters and the 2016-2017 president of the White House Correspondents’ Association. He was the lead Reuters correspondent for President Barack Obama's 2012 campaign and interviewed the president at the White House in 2015. Jeff has been based in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain. Jeff started his career in Frankfurt, Germany, where he covered the airline industry before moving to Brussels, Belgium, where he covered the European Union. He is a Colorado native, proud graduate of Northwestern University and former Fulbright scholar.
Twitter handle: @jeffmason1
HELSINKI Finland's Outokumpu, one of the world's largest stainless steelmakers, said the United States would grant very few steel tariff exemption requests, adding it expected U.S. stainless prices to resume their upward trend as a result.
* Palladium off multi-week highs hit on Monday (Updates prices, headline; adds comment, second byline, NEW YORK to dateline)
LONDON Gold steadied on Tuesday as the dollar trod water against a basket of currencies, with investors reticent to bid up the metal in the face of looming U.S. interest rate increases and escalating Sino-U.S. trade tensions.
* Asian physical demand supports gold prices * Palladium rises to highest since June 19 (Updates prices; adds comment, NEW YORK dateline) By Marcy Nicholson and Maytaal Angel NEW YORK/LONDON, Sept 7 Gold fell on Friday as the dollar resumed its rally versus a currency basket after stronger-than-expected payrolls data cemented expectations that the Federal Reserve will raise interest rates in September, in what would be its third hike this year. A stronger dollar makes dollar-priced gold costlier for non-U.S. investors. U.S. jobs growth accelerated in August, with wages notching their largest annual increase in nine years, strengthening views the economy was so far weathering the Trump administration's escalating trade war with China. Spot gold fell 0.4 percent at $1,195.48 an ounce by 2:49 p.m. EDT (1849 GMT), and was on track to close the week down 0.5 percent. U.S. gold futures settled down 0.3 percent at $1,200.40 an ounce. "The biggest jump in average hourly earnings this year bashed bonds and drove the dollar higher, which was enough to break gold’s two-day winning streak," said Tai Wong, head of base and precious metals trading at BMO Capital Markets in New York. He noted that gold closed under $1,200 for the second time in four weeks "as market ponders if wage pressures are finally emerging, which may tip the Fed towards a December rate hike." The greenback has soared this year on escalating U.S.-Sino trade tensions, though it has lost some steam this week to rival safe-haven currencies like the yen and Swiss franc even as investors brace for new U.S. tariffs on China. "I'm struggling to (see) how the dollar could extend gains from here. Other central banks are becoming hawkish, the pound could come back up and the euro, once the ECB starts tightening. Gold is due for a rally," Fawad Razaqzada, analyst at FOREX.com, said. An overnight report bolstered the yen after suggesting U.S. President Donald Trump would next take up trade issues with Japan, indicating possible headwinds for the dollar. Battered emerging market currencies have also recovered their poise versus the dollar. "The stronger yen versus the dollar is leading to some buying in gold. ... The recent low of around $1,160 in August is really the bottom in gold for now," said Yuichi Ikemizu, Tokyo branch manager, ICBC Standard Bank. Spot silver was up 0.2 percent at $14.15 per ounce, while palladium rose 0.6 percent to $979.40, after tapping the highest level since June 19 at $990. Platinum fell 1.6 percent to $778.49. The global platinum market will be oversupplied by 295,000 ounces this year as both supply and demand of the autocatalyst metal fall by 2 percent, the World Platinum Investment Council (WPIC) said on Thursday. (Additional reporting by Nallur Sethuraman in Bengaluru; editing by Alexander Smith and Leslie Adler)
LONDON Gold fell on Friday as the dollar resumed its rally versus a currency basket after stronger than expected payrolls data cemented expectations of a third interest rate increase in September this year.
* GRAPHIC-2018 asset returns: http://tmsnrt.rs/2jvdmXl (Updates with closing prices)
* Silver hits 2-1/2 year low (Updates prices, headline; adds comment, second byline, NEW YORK to dateline)
CHICAGO/LONDON Gold was near flat on Thursday after two straight sessions of gains as a stronger U.S. dollar index weighed on upside momentum, though the precious metal took some comfort from a steadier Chinese currency.
LONDON Washington's tariffs on steel imports have prompted warnings of an earnings hit for European producers, but for companies such as ArcelorMittal with operations in increasingly protected markets, levies are expected to yield a profit bonanza.
CHICAGO/LONDON Gold climbed nearly 1 percent on Tuesday, having drifted near $1,200 an ounce this week, as the U.S. dollar fell versus China's yuan against a backdrop of U.S.-China trade tensions.