Search

Barrick Gold Corp. is facing challenges in controlling costs and maximizing profits despite the surge in the price of gold. The company fell short of analysts' expectations in the third-quarter earnings report due to increased expenses in producing gold at various mines. Barrick, like other gold producers, is grappling with rising labor and energy costs, with the Nevada operations needing infrastructure investments. Additionally, the company is engaged in negotiations with the government of Mali to retain its Loulo mine concession. [Extracted from the article]

Newmont Corp. experienced a significant drop in shares following earnings results that indicated challenges in controlling mining costs despite a surge in gold prices. The company fell short of analysts' estimates in the third quarter due to increased expenses in mining operations across various countries. Despite the cost struggles, Newmont posted its highest quarterly profits in five years, earning $922 million in net income. The higher expenses were attributed to specific operational issues at Newmont mines, rather than broader industry inflation. [Extracted from the article]

According to a survey conducted at the London Bullion Market Association event in Miami, the gold industry predicts that gold prices will surge to a record high of $2,917.40 an ounce by late October next year, representing a 10% increase from current levels. Gold has been performing strongly in 2024 due to its appeal as a safe haven, diversification play, and central-bank buying, with its latest peak surpassing $2,685. Investors are closely monitoring the US presidential election, with Republican candidate Donald Trump advocating for increased tariffs and closer consultation with the Federal Reserve. Silver is also expected to rise by more than 40% to $45 an ounce in the coming year, as per the survey. [Extracted from the article]

Gold is projected to reach new record highs in the next year, with industry experts at the London Bullion Market Association's annual conference in Miami predicting an average price of $2,917.40 per ounce by late October. The surge in gold prices this year, up 29%, is attributed to its safe-haven appeal during times of uncertainty and as a wealth safeguard. Silver prices are also expected to increase by 43% to $45 per ounce over the same period, as reported by Bloomberg. [Extracted from the article]

According to a survey conducted at the London Bullion Market Association event, the gold industry expects gold prices to reach a record high of $2,917.40 an ounce by late October next year, representing a 10% increase from current levels. Gold has been performing well in 2024, setting successive records due to its appeal as a safe haven, its role in diversification, and central bank buying. The recent peak was above $2,685, supported by the Federal Reserve's decision to cut interest rates. The survey also predicts that silver will increase by over 40% to reach $45 an ounce in the coming year. [Extracted from the article]

Goldman Sachs Group Inc. predicts that if the Federal Reserve opts for a 25-basis-point cut, gold may experience a minor setback in the near term but will subsequently rally to a record high due to increased flows into gold-backed exchange-traded funds (ETFs). The bank forecasts that gold will reach $2,700 an ounce by early next year. Despite a surge in gold prices this year, global holdings in gold-backed ETFs remain lower year-to-date and about 25% below the peak set during the pandemic in 2020. Inflows into ETFs reduce the physical supply of gold available in the market. [Extracted from the article]

Goldman Sachs predicts that if the Federal Reserve opts for a 25-basis-point rate cut, gold may experience a minor setback in the near term. However, the metal is expected to rally to a record high due to increased flows into gold-backed exchange-traded funds (ETFs). The bank forecasts that gold could reach $2,700 an ounce by early next year. Despite a surge in gold prices this year, global holdings in gold-backed ETFs remain lower year-to-date and about 25% below the peak set during the pandemic in 2020. [Extracted from the article]

Gold prices have reached successive record highs, with a surge of nearly 2% on Thursday. This increase is attributed to traders adding bullish wagers ahead of an expected Federal Reserve interest-rate cut. Gold has risen by over 25% this year, supported by the Fed's path to monetary easing, central-bank buying, and strong haven demand due to conflicts in the Middle East and Ukraine. The possibility of a jumbo cut by the US central bank has led to increased betting on higher gold prices, as lower rates are generally positive for non-interest yielding gold. Additionally, some investors are turning to gold as a safe play in a risk-on environment, and expectations of monetary easing by global central banks have boosted investor holdings of gold exchange-traded funds. [Extracted from the article]

Gold investors are hoping that the precious metal can continue its record-breaking rally and overcome the curse of September. Gold has experienced declines every September since 2017, with an average decline of 3.2% during that month. This trend is not limited to gold, as September is also commonly the worst month for US stocks. One explanation for this weakness is that traders buy gold as a defensive position during the summer months and sell it upon their return in September. However, gold has actually risen in September over a three-decade period. The strength of the dollar in September also poses a challenge for gold, as traders using other currencies can buy less gold with their money. Gold's recent gains have been supported by central bank purchases, increased haven demand, and healthy buying of physical bars. Expectations of the Federal Reserve easing monetary policy have also contributed to gold's rally. However, the speed and magnitude of interest rate cuts may determine whether gold can maintain its momentum. Overall, the seasonality of September suggests a potentially challenging month ahead for gold. [Extracted from the article]

Gold prices dropped slightly as investors considered the potential impact of US inflation data on the Federal Reserve's interest rate decisions. The Consumer Price Index for July showed inflation in line with expectations, which caused gold to erase a small gain and trade near $2,455 an ounce. Despite indications of moderating inflationary pressures, the Fed Bank of Atlanta President stated that he would need more data before supporting a rate reduction, but still expects a cut by the end of the year. Gold has seen a 19% increase this year due to optimism about monetary easing, central bank purchases, and geopolitical uncertainties. [Extracted from the article]

This article highlights five notable charts to watch in global commodity markets. First, the earnings season for gold producers is beginning, with Newmont Corp. unveiling its quarterly results. Analysts and investors will be interested in the all-in sustaining costs of producing gold in light of surging bullion prices. Second, US crude production remains at a record high despite a decline in the number of drilling rigs, thanks to higher productivity and the use of stockpiles. Third, Canada is expected to have an unprecedented maple syrup harvest this year, with Quebec producing a record amount. Fourth, the German chemicals industry is struggling to recover from high energy costs, leading to low capacity utilization. Finally, the US is a global leader in carbon capture, with the capacity to capture as much as 164 million tons of carbon by 2035. [Extracted from the article]

This article highlights five key charts to watch in global commodity markets. It mentions that gold producers, starting with Newmont Corp., are entering earnings season, and the rising price of gold should benefit mining companies. The article also discusses the record maple syrup harvest in Canada, particularly in Quebec, which is the world's largest supplier. The German chemicals industry is struggling to recover from high energy costs, and the US is a global leader in carbon capture, with the capacity to capture a significant amount of carbon dioxide emissions. [Extracted from the article]

This article highlights five key charts to watch in global commodity markets. It mentions that gold producers, starting with Newmont Corp., are beginning their earnings season, and the rising prices of gold should benefit mining companies. The article also discusses the record maple syrup harvest in Canada, particularly in Quebec, which is the world's largest supplier. The German chemicals industry is struggling to recover from high energy costs, and the US is a global leader in carbon capture, with the capacity to capture a significant amount of carbon dioxide emissions. [Extracted from the article]

Gold prices surged above $2,400 an ounce, nearing the record high set in May, following a drop in US consumer prices. The unexpected decline in inflation has raised hopes that the Federal Reserve will soon cut interest rates. The figures suggest that inflation is decreasing after a previous increase earlier this year, while overall economic activity appears to be slowing. The drop in inflation has led to a rally in precious metals, with gold reaching striking distance of its all-time high. [Extracted from the article]

Gold prices surged after a surprising decrease in US consumer prices in June, raising optimism that the Federal Reserve will soon lower interest rates. The Bureau of Labor Statistics reported a 0.1% monthly decline in consumer prices, the first negative reading in over four years. This, along with a minimal increase in core prices, supports the case for a Federal Reserve interest-rate cut in September. Despite high interest rates, gold prices have reached record highs this year due to increased buying by investors and central banks. [Extracted from the article]

Gold prices have risen for the third consecutive day as traders anticipate the release of US inflation data. The core consumer price index, which excludes food and energy, is expected to show a slight increase of 0.2% in June, potentially strengthening the case for monetary easing. Federal Reserve Chair Jerome Powell's recent testimony indicated that the central bank may cut interest rates even if inflation remains below 2%, which has boosted gold prices. Additionally, the Bank of Uganda has announced plans to implement a domestic gold-purchasing program to enhance its foreign reserves and reduce investment risks. [Extracted from the article]

Gold prices have held steady and traders are now predicting a higher chance of an interest-rate cut from the Federal Reserve in September. This comes after Federal Reserve Chair Jerome Powell stated that he believes inflation is decreasing. Gold has seen a 15% increase this year due to central bank purchases, geopolitical tensions, and expectations of easier monetary policy. The upcoming US inflation data could further support the case for a rate cut in September. [Extracted from the article]

A businessman involved in mining deals for Abu Dhabi's largest listed company, International Resources Holding (IRH), has been accused of having dealings with gold smugglers in central Africa, according to a United Nations report. Sibtein Alibhai, the chief global strategist of IRH, allegedly discussed business with gold traffickers in the Democratic Republic of Congo. IRH, a unit of International Holding Company, has been aggressively pursuing mining deals in Africa and other regions, aiming to become a key player in critical minerals such as copper, cobalt, nickel, lithium, and graphite. The allegations against Alibhai have not been commented on by IRH or Alibhai. [Extracted from the article]

Gold prices have risen to a three-week high due to recent data showing lower inflation and weak retail sales in the US. This has reinforced expectations that the Federal Reserve will cut interest rates this year. While this data provides some relief for policymakers, it also indicates potential economic weakness and sticky inflation, which would benefit gold as a hedge against financial stress and price pressures. However, for gold to reach a new record, more clarity on the number of rate cuts is needed. Despite this, gold prices have already seen a 14% increase this year, supported by central bank buying, geopolitical risks, and consumer demand in China. [Extracted from the article]

Gold prices fell after a previous rally in response to Federal Reserve Chair Jerome Powell's comments was deemed overoptimistic. Bullion dipped to about $2,300 an ounce after ending 1.5% higher in the prior session. Powell struck a less hawkish tone than expected, saying policymakers need more evidence that price gains are cooling before reducing borrowing costs. Traders are now awaiting the monthly employment report due Friday, with economists forecasting a slower pace of nonfarm payrolls gain. Gold has climbed about 11% this year, driven by central bank purchases, demand from Asian markets, and conflicts in Ukraine and the Middle East. [Extracted from the article]

Gold prices fell after a previous rally in response to Federal Reserve Chair Jerome Powell's comments was deemed overoptimistic. Bullion dipped to about $2,300 an ounce after ending 1.5% higher in the prior session. Powell struck a less hawkish tone than expected, stating that policymakers need more evidence of cooling price gains before reducing borrowing costs. The yen weakened against the dollar, making gold cheaper for many buyers. Gold has climbed about 11% this year, driven by central bank purchases, demand from Asian markets, and conflicts in Ukraine and the Middle East. However, high prices may be dissuading some retail buyers, as sales of American Eagle gold coins fell in April. [Extracted from the article]

Gold prices declined after a key inflation report showed higher-than-expected price pressures, suggesting that the Federal Reserve may delay interest-rate cuts. The core consumer price index, which excludes food and energy costs, increased 0.4% from February and 3.8% from a year ago. This news caused Treasury yields and the dollar to rise, leading to a drop in gold prices. Despite this, gold remains at elevated levels and reached an all-time high recently. The rally in gold prices has been attributed to factors such as geopolitical risks and central bank buying. [Extracted from the article]

China Asset Management Co., a major Chinese money manager, has suspended trading in an exchange-traded fund (ETF) that tracks gold-related stocks. This is the second time in less than a week that trading has been halted due to a surge in the product's premium. The decision was made to protect investors' interests after the fund's premium over its underlying assets reached a record high of over 30%. The increased interest in gold-related products in China is a result of a recent rally in gold prices and uncertainties in the global economy. [Extracted from the article]

Gold prices reached a new record high of $2,295.25 per ounce after Federal Reserve Chair Jerome Powell indicated that the central bank will wait for clearer signs of lower inflation before cutting interest rates. Despite higher-than-expected inflation figures, Powell stated that they did not significantly alter the overall economic outlook. While the Fed maintains a wait-and-see approach, market expectations of lower US interest rates have driven gold prices up over 10% this year. Lower interest rates are generally positive for gold as it does not pay interest. [Extracted from the article]

Gold and silver prices are rising due to expectations of three interest rate cuts by the Federal Reserve in 2024. Gold reached a new record above $2,288 an ounce, while silver hit a two-year high of $26 an ounce. The precious metals benefit from lower interest rates as they do not yield any returns. However, the timing of the rate cuts is uncertain due to the strong performance of the US economy. Short-covering may have contributed to gold's recent record, and market analysts expect price action to be volatile. Federal Reserve Chair Jerome Powell's upcoming speech and nonfarm payrolls figures will provide further insights into the policy outlook. [Extracted from the article]

Gold prices retreated from a record high after solid US factory data prompted traders to reconsider the Federal Reserve's rate-cutting plans. The Fed's preferred measure of underlying inflation cooled in February, leading to speculation that the central bank may cut interest rates only twice this year instead of three times. Lower interest rates are typically positive for gold, which does not pay interest. The rally in gold has been driven by factors such as the prospect of monetary easing by major central banks, geopolitical tensions, strong buying by central banks (particularly in China), and increased demand from Chinese consumers. However, gold's ascent has not been reflected in holdings of bullion-backed exchange-traded funds, which have decreased in the first quarter. [Extracted from the article]

Selena Gomez is considering selling her cosmetics company, Rare Beauty, which is valued at $2 billion. She has hired advisers to evaluate offers from potential investors or buyers. Rare Beauty, launched in 2020, gained popularity for its liquid cosmetics that are easy to apply. While some celebrities have found success in the beauty industry, others have faced challenges. Gomez, known for her acting and singing career, has a large following on Instagram and has used her platform to promote mental health and other business ventures. [Extracted from the article]

The world's largest bond market experienced a sell-off as a result of a hot inflation report, which reinforced the belief that the Federal Reserve will not rush to cut rates despite signs of economic sluggishness. Treasury yields rose, indicating the challenges the Fed faces in achieving its inflation goal. The producer price index also showed an increase in cost pressures, while retail sales weakened. The stock market also experienced a decline, with concerns about a potential bubble in certain sectors. The Federal Reserve is expected to keep rates unchanged at its upcoming meeting. [Extracted from the article]

The world's largest bond market experienced a sell-off as a result of a hot inflation report, which reinforced expectations that the Federal Reserve will not rush to cut interest rates despite signs of economic sluggishness. Treasury yields rose, indicating the challenges the Fed faces in achieving its inflation goal. The producer price index also showed an increase in cost pressures, while retail sales weakened. The market reaction raised concerns about the possibility of stagflation. The Fed is expected to keep rates unchanged at its upcoming meeting, but the data may influence future rate cuts. [Extracted from the article]

Gold prices slipped after new economic data indicated that the Federal Reserve will likely be cautious in lowering borrowing costs. US producer prices rose in February, driven by higher fuel and food costs, suggesting that inflation remains elevated. Additionally, US retail sales rose less than expected. These data reports, along with the consumer price index released earlier in the week, indicate that inflation remains a concern for the Fed. Despite the pullback, gold prices are still holding at elevated levels. [Extracted from the article]

Gold production in Burkina Faso decreased in 2023 due to worsening security conditions, leading to the closure of several mines. The country has been affected by an Islamist insurgency in the Sahel region, as well as two military coups in 2022. Burkina Faso accounted for nearly a quarter of global deaths from terrorist attacks last year. Six mining companies shut down in 2022, and one more ceased operations in 2023. The Ministry of Mines, Quarries and Energy reported a 1.5% decline in gold output to 57.3 tons. The challenges faced by the gold sector include site closures and difficulties in supplying mines with fuel and materials due to terrorist attacks. Burkina Faso has also revised its mining code to increase royalties during prosperous periods and suspended mineral exports by small-scale miners. Despite these challenges, some companies, such as West African Resources Ltd., Endeavour Mining Plc, and Iamgold Corp., continue to operate in the country. [Extracted from the article]

Purchases at Dubai's Gold Souk are declining as the price of gold continues to rise, reaching a record high of nearly $2,200 an ounce. Locals are primarily browsing, while tourists are still willing to buy despite the high prices. Sales at gold brick shops have been hit the hardest, with a 50% decrease in sales reported. However, jewelry sales have been performing slightly better. The rise in gold prices has surprised traders and investors alike, with no clear reason for the rally. Residents and locals are showing less interest in buying due to the surge in prices, but tourists are taking advantage of the opportunity to purchase unique mementos. Despite the decline in sales, shopkeepers remain confident that customers will return to buy again. [Extracted from the article]

Gold prices have surged to a record high due to expectations of US rate cuts, geopolitical tensions, and concerns about a potential pullback in equity markets. The price of gold reached $2,141.79 per ounce, a 5% increase over the past five sessions. This rally has surprised some market participants, as there has been no major change in expectations for when the Federal Reserve will lower borrowing costs. Other factors contributing to gold's strength include macro funds entering the market, elevated Middle East tensions, disruptions to global shipping, China's economic woes, and the upcoming US presidential election. [Extracted from the article]

Harmony Gold Mining Co. plans to invest 7.9 billion rand ($410 million) to extend the life of the Mponeng mine, the world's deepest mine located in South Africa. This investment will increase the mine's lifespan from seven to 20 years and is a positive development for South Africa's declining gold industry. The Mponeng mine has been a successful asset for Harmony, contributing to a tripling of the company's profit in the last six months of 2023. Despite the challenges of mining deeper deposits, Mponeng continues to generate cash for Harmony. [Extracted from the article]

Keywords: ALLTOP; BON; BUSINESS; FRX; GLOBALMACR; MARKETS; MKTTOP; NORTHAM; STK; STKTOP; TOP; US; WORLD; WRP; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN ALLTOP BON BUSINESS FRX GLOBALMACR MARKETS MKTTOP NORTHAM STK STKTOP TOP US WORLD WRP WWTOP WWTOPAM WWTOPAS WWTOPEU U.S. equity futures edged lower and the dollar strengthened on Wednesday ahead of a key report on American inflation that will be parsed by traders for clues on the direction of central-bank policy. ALLTOP, BON, BUSINESS, FRX, GLOBALMACR, MARKETS, MKTTOP, NORTHAM, STK, STKTOP, TOP, US, WORLD, WRP, WWTOP, WWTOPAM, WWTOPAS, WWTOPEU. [Extracted from the article]

This article discusses the impact of the rising price of gold is affecting the stability of the U.S. economy. It notes that gold price increases have direct impact of interest rates, exchange rates and inflation rates of industrial nations. There is also a link that rising prices of gold is triggering soaring prices of crude oil. Holders of 2 billion ounces (oz) of gold will be richer by 1 trillion dollars over the past year, hence fueling inflation. The commodity market is also affected by the rise in gold price with speculator betting on other metals.

This section offers news briefs on business around the world as of October 1931. It is reported that financial and political tensions in Europe caused by England's abandonment of the gold standard have relaxed. In France, gold shipments arriving from the U.S. and Holland and going out to Belgium and Switzerland have left the Bank of France with net gain but with counterbalancing heavy decrease of foreign deposits. To meet British automatic reduction of real wages, a new wage cut campaign was launched in Germany.

The article offers an overview of the business conditions in several countries in 1931. Other European countries fear that Germany will use its financial crisis to get rid of its large stocks of iron, coal and steel products at any price to obtain foreign currency. Gold withdrawals still continue in London, England while French franc fell after the Bank of France decided to increase its sterling holdings. The average wheat yield for the year is estimated to be seven million tons while import will be one million tons.

The dollar has weakened against other major currencies, and Treasury yields have fallen as expectations grow that the Federal Reserve will cut interest rates next year. The Bloomberg Global Aggregate bond index is on track for its best month since December 2008, and the MSCI All Country World Index of stocks is experiencing its strongest month since November 2020. Fed swaps are predicting over 100 basis points of rate cuts by the end of 2024. Asian stocks were mixed, with Hong Kong shares falling over 2%, while Australian stocks remained strong. The New Zealand dollar rallied against the greenback after the Reserve Bank of New Zealand's new policy rate forecasts suggested a chance of an increase in 2024. Emerging Asian currencies also rose, and the Japanese yen reached its highest level in over two months. The recent dovish comments from Fed officials and the possibility of rate cuts have led to a rally in oil and gold prices. US consumer confidence has risen, and home prices have reached a record high. In the corporate world, Meituan shares fell after the company warned of slower growth, while PDD Holdings reported stronger-than-expected revenue. Alibaba co-founder Jack Ma called for fundamental change within the company. [Extracted from the article]

Gold prices increased after US inflation for the previous month was lower than expected, which reduced the pressure on the Federal Reserve to raise interest rates. The consumer price index remained unchanged in October, and the figure excluding food and energy rose less than anticipated. This data suggests that the Fed may not need to tighten monetary policy again this year, which is generally negative for non-yielding assets like gold. The focus for gold is now shifting back to the monetary policy outlook, as the Hamas-Israel conflict remains contained. Gold prices have decreased this month but are still higher than before the attack on October 7. [Extracted from the article]

Stocks rebounded as traders looked past the Federal Reserve's pushback and focused on a key reading on consumer sentiment. The S&P 500 recovered after a slide triggered by a Treasury selloff and Jerome Powell's remarks about potential tightening. Two-year yields dropped, and the dollar halted its advance. US consumers' long-term inflation expectations increased, while concerns about the economic outlook weighed on sentiment. Federal Reserve officials are debating further interest-rate hikes. Global stocks saw inflows, but cash remains the asset class of choice. The euro edged higher after European Central Bank President Christine Lagarde's comments. Bitcoin reached its highest price in 18 months. Oil recovered, but concerns over global demand persisted. Gold was on track for its second weekly decline. In corporate news, Trade Desk Inc. and Plug Power Inc. gave weak forecasts, while three Las Vegas casino companies reached labor deals with the city's hospitality workers union. Country Garden Holdings Co. posted a significant sales drop. [Extracted from the article]

(Bloomberg) -- Gold fell from above $2,000 an ounce - after breaching the threshold for the first time since May on Friday - as Israel's ground invasion of Gaza appeared to be less extensive than some investors expected. The conflict has edged the US interest-rate path and Treasury yields as the main price driver for bullion. [Extracted from the article]

(Bloomberg) -- Gold fell from above $2,000 an ounce - after breaching the threshold for the first time since May on Friday - as Israel's ground invasion of Gaza appeared to be more cautious than it had initially vowed. The conflict has edged the US interest-rate path and Treasury yields as the main price driver for bullion. [Extracted from the article]

Gold has been driven lower in recent months as the US Federal Reserve hiked interest rates to quell inflation, with investors absorbing the message from policymakers that borrowing costs are likely to be higher for longer. (Bloomberg) -- Gold's recent tumble has made it more attractive in an environment in which elevated interest rates boost the odds of unexpected market ructions, according to Nikko Asset Management. [Extracted from the article]

Gold has been driven lower in recent months as the US Federal Reserve hiked interest rates to quell inflation, with investors absorbing the message from policymakers that borrowing costs are likely to be higher for longer. (Bloomberg) -- Gold's recent tumble has made it more attractive in an environment in which elevated interest rates boost the odds of unexpected market ructions, according to Nikko Asset Management. [Extracted from the article]

Hedge funds boosted their bullish bets on gold to a six-week high, the latest CFTC data on futures and options show, further underscoring bets on a rate hike pause Still, two Fed officials said at least one more rate hike is possible and that borrowing costs may need to stay higher for longer for the central bank to ease inflation back to its 2% target Spot gold was little changed at $1,924.38 an ounce at 8:15 a.m. in Singapore. (Bloomberg) -- Gold was steady after traders slightly unwound bets on another rate hike this year, with key US inflation data due this week set to show a deceleration. [Extracted from the article]

Al-Sawlaj in 2021 bought a gold tailing-processing facility owned by Meroe Gold for $1.8 million. (Bloomberg) -- A Sudanese gold mining company linked to the Russian mercenary Wagner Group has suspended operations because of conflict in the North African nation. [Extracted from the article]

Rockfire Resources Plc is buying Dubai-based Emirates Gold DMCC in a reverse takeover under London's Alternative Investment Market rules, it said in a statement Friday. (Bloomberg) -- One of Dubai's biggest gold refineries, suspended in July over concerns that its owners had ties to alleged money launderers, is being acquired by London-listed mining explorer. [Extracted from the article]

The Bloomberg dollar index is on track for an eighth consecutive week of gains, which would be the longest ever run of increases in data going back to 2005. (Bloomberg) -- US stocks futures dropped as investors ramped up bets on further Federal Reserve policy tightening. [Extracted from the article]

The onshore yuan sank toward its weakest in 16 years against the dollar and the MSCI China Index of stocks was set to erase gains since a key policy meeting in late July. Money-market traders held bets steady for the Bank of England's peak interest rate after the UK inflation print. (Bloomberg) -- US equity futures fluctuated before the Federal Reserve releases minutes from the last policy meeting. [Extracted from the article]