Gold tumbles ₹ 522, silver crashes ₹ 1,822

Hillary Clinton Hits Republicans Whining About ‘Cancel Culture’ With A Blast From The Past

Hillary Clinton reminded Republicans concerned about so-called “cancel culture” of what they once canceled themselves.

On Twitter, the former secretary of state recalled how Republicans in 2003 renamed French fries in the House cafeterias as “Freedom Fries” to protest French opposition to the war in Iraq. 

“The party of ‘Freedom Fries’ would like you to know that ‘cancel culture’ is a very serious problem,” Clinton, who voted in favor of the military invention, wrote Thursday.

GOP concern over “cancel culture” has ramped up in recent weeks, with conservative lawmakers and TV personalities expressing faux outrage most latterly about Dr. Seuss Enterprises’ decision to stop the publication of six books containing racist imagery. Sen. Ted Cruz (R-Texas) tried to pin the blame on the company’s decision on President Joe Biden.

The theme of the 2021 Conservative Political Action Conference in Orlando, Florida, at the weekend was even “America Uncanceled.”

MSNBC’s Chris Hayes summed up the mood with this montage on Wednesday:

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Twitter Users Mock QAnon As Biggest Trump Prophecy Yet Falls Apart

Right-wing conspiracy theorists were disappointed on Thursday when a QAnon cult prophecy about former President Donald Trump returning to power failed to occur. 

Members of the group believed Trump would take office again on March 4, which was the traditional Inauguration Day date until 1933. In response, security was increased around the U.S. Capitol and the House wrapped up business on Wednesday amid concerns over the potential for new violence in the area. 

Instead, nothing happened. No inauguration. No crowds. And no Trump. This inspired #TrumpInauguration and similar hashtags to trend in mocking “celebration” of the non-event: 

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U.S. Factory Orders Jump More Than Expected In January

Partly reflecting a spike in orders for transportation equipment, the Commerce Department released a report on Thursday showing a bigger than expected increase in new orders for U.S. manufactured goods in the month of January.

The Commerce Department said factory orders surged up by 2.6 percent after jumping by an upwardly revised 1.6 percent in December.

Economists had expected factory orders to advance by 2.1 percent compared to the 1.1 percent increase originally reported for the previous month.

The report said orders for durable goods shot up by 3.4 percent in January, led by the 7.7 percent spike in orders for transportation equipment. Orders for non-defense aircraft and parts soared by 389.9 percent.

Orders for non-durable goods also showed a notable increase, jumping by 1.9 percent in January following a 2.0 percent surge in December.

The Commerce Department also said shipments of manufactured goods climbed by 1.9 percent in January following a 2.1 percent increase in December.

Inventories of manufactured goods showed a more modest increase, inching up by 0.1 percent in January after rising by 0.3 percent in December.

The inventories-to-shipments ratio subsequently dipped to 1.36 in January from 1.38 in the previous month.

Matt Hancock to hold 5pm press conference after outrage over 1% NHS pay rise

Gold Hits Nine-month Low As Yields Climb

Gold prices fell on Friday to hover near nine-month lows and were on track for a third straight weekly decline, as comments from Federal Reserve Chair Jerome Powell failed to ease concerns around both a spike in inflation and a sustained rise in interest rates.

Spot gold eased 0.2 percent to $1,694.60 per ounce, after having earlier fallen to its lowest since June 8 at $1,686.40. U.S. gold futures were down half a percent at $1,692.70.

The dollar and bond yields rose after Powell said he expects some inflationary pressures in the time ahead.

Powell said the recent run-up in bond yields was “notable” and that “disorderly conditions in financial markets” or a broad tightening of financial conditions would provoke a policy change. But he stopped short of saying that recent market gyrations meet those tests.

Powell repeated his pledge to keep credit loose, but offered few signs that the central bank might expand monetary stimulus.

The U.S. 10-year yields held above 1.5 percent, while the dollar surged to three-month highs after Powell’s remarks.

Meanwhile, the U.S. Labor Department is set to release its February jobs report later today.

Economists expect employment to increase by 182,000 jobs after an increase of 49,000 jobs in January. The unemployment rate is expected to hold at 6.3 percent.

SoftBank strategy chief Sago to leave

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato

TOKYO (Reuters) – SoftBank Group said its chief strategy officer, Katsunori Sago, would resign at the end of March.

Sago, a Goldman Sachs alumnus who took the strategy job in 2018, was seen as a possible successor to CEO Masayoshi Son.

Gold tumbles ₹ 522, silver crashes ₹ 1,822

Gold prices on Friday tumbled by ₹ 522 to ₹ 43,887 per 10 grams in the national capital, due to muted trend in the international markets, according to HDFC Securities.

The precious metal had closed at ₹ 44,409 per 10 grams in the previous trade.

Silver crashed by ₹ 1,822 to ₹ 64,805 per kilogram as compared with the close of ₹ 66,627 per kg on Thursday.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Spot prices for 24 karat gold at Delhi fell by ₹ 522 in COMEX (New York-based commodities exchange) gold prices." In the international market, gold was trading lower at $ 1,696 per ounce and silver was down at $ 25.20 an ounce.