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Gold Little Changed Ahead Of ECB Meet

Watch Christine Lagarde speaking after the ECB's latest rate decision

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European Central Bank President Christine Lagarde is giving a press conference after the bank's latest monetary policy decision.

The ECB held off making any significant moves Thursday, keeping interest rates and coronavirus stimulus unchanged.

Investors will likely look out for any comments from Lagarde on when its massive monetary stimulus might start to be formally wound down.

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Gold jumps ₹ 112; silver declines ₹ 203

Gold in the national capital on Thursday rose by ₹ 112 to ₹ 47,050 per 10 gram in-line with a recovery in international precious metal prices, according to HDFC Securities.

In the previous trade, the precious metal had settled at ₹ 46,938 per 10 gram.

In contrast, silver slipped ₹ 203 to ₹ 63,767 per kilogram from ₹ 63,970 per kilogram in the previous trade.

In the international market, gold was trading higher at $ 1,803 per ounce and silver was flat at $ 24.12 per ounce.

"Gold prices recovered paring previous losses with lower US bond yields and mixed global cues," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

MyCharge Recalls Powerbanks For Fire, Burn Risks

Birmingham, Michigan-based RFA Brands LLC, d/b/a myCharge is recalling about 67,000 units of myCharge powerbanks citing fire and burn risks, the U.S. Consumer Product Safety Commission said.

The recall was initiated after myCharge received 30 reports of the powerbanks overheating, resulting in seven injuries as well as property damage to household flooring, walls and furniture. These injuries include burns to the upper body, hands, legs, and/or feet of users.

According to the agency, the powerbank’s lithium-ion battery can overheat and ignite, posing fire and burn hazards.

The recall involves seven models of myCharge powerbanks used for powering and recharging electronic devices that have a USB interface, such as tablets, cell phones, Bluetooth speakers, e-readers, etc. The powerbanks have an anodized metallic case that is blue, black or gray.

The products were manufactured in China and sold at various stores and online. The affected items were available at Best Buy, Brainstorm, Hirsch Gifts, Hudson News, InMotion, Lapine, Power Sales, Projector World, and Target stores nationwide and online at www.amazon.com, www.mycharge.com and www.target.com and through the U.S. Marine Corps/Navy Exchange. They were sold from August 2018 through December 2019 for between $70 and $100.

Consumers are asked to contact myCharge for instructions on returning the battery to obtain a refund. It will be in the form of an electronic voucher for the full purchase price plus a 25 percent bonus for redemption on www.mycharge.com.

Colorado high school football scoreboard: Week 10 – The Denver Post

Thursday night scores 

Columbine 20, Pomona 6

Evergreen 42, Littleton 8

Fort Morgan 23, Northridge 20

Golden 41, Bear Creek 27

Grandview 32, Arapahoe 13

Monarch 21, Greeley Central 12

Mullen 42, Lakewood 0

Prairie 57, Otis 14

Pueblo East 21, Canon City 7

Pueblo South 35, Pueblo Central 6

Regis Jesuit 34, Douglas County 24

Rock Canyon 21, Castle View 14

Roosevelt 53, Niwot 6

A Stranger Looked Like My Twin. That Was Just the Beginning.

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By Kama Einhorn

BBVA's Q3 net profit rises 22.7% y/y on lower provisions

MADRID, Oct 29 (Reuters) – Spain’s BBVA on Friday reported its third quarter net profit rose 22.7% compared to the same quarter a year ago on lower loan loss provisions.

The lender booked a net profit of 1.4 billion euros ($1.63 billion) in the July to September period, more than the 1.06 billion euros forecast by analysts polled by Reuters.

The lender also said it had received authorization to buy back up to 10% of its capital for a maximum amount of 3.5 billion euros.

Gold Little Changed Ahead Of ECB Meet

Gold held steady on Thursday as short-term Treasury bond yields continued their recent assent ahead of key economic data and central bank policy meetings.

Spot gold was marginally higher at $1,797.15 per ounce, while U.S. gold futures were marginally lower at $1,798.45.

Equities traded mixed amid concerns that inflationary pressures will lead to a tighter monetary policy and slow economic growth.

Investors fear that elevated inflation due to an energy crunch and supply-chain disruptions could force central banks to withdraw stimulus measures.

The Bank of Canada terminated its quantitative easing earlier than expected and suggested the possibility of a rate hike in the middle quarters of 2022.

The Bank of Japan maintained its massive monetary stimulus and downgraded its real GDP growth and consumer inflation forecasts.

The Federal Reserve meets next week, and it is widely expected that the U.S. central bank will announce a reduction in bond purchases.

The European Central Bank will announce its interest rate decision at 7:45 am ET.
The central bank is expected to hold its main refi rate at a record low zero percent and the deposit rate at -0.50 percent.

In economic releases, U.S. GDP data for the third quarter, weekly jobless claims for the week ended October 23 and pending home sales for September will be published in the New York session.