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At age 84. 06:14
George Gero, senior vice president of RBC Wealth Management, listens at the Bloomberg Precious Metals Briefing in New York, US, in 2011. Image: Michael Nagle/Bloomberg
George Gero, a financial adviser known throughout the gold industry, who claimed he traded one of the first-ever gold contracts in New York, has died. He was 84.
He died on December 12 at his home, according to his obituary with Levine Memorial Chapel. No cause was given.
Gero, a New York-based managing director in Royal Bank of Canadaâs wealth management division, served for 54 years trading precious metals as a member of the New York Mercantile Exchange and Chicago Mercantile Exchange. He was known by colleagues as a kind person who always looked out for people, and by reporters as someone never too busy to take a call and explain the sometimes complex minutiae of the gold markets.
lauren: time for stocks as we do every 15 minutes. the dow is up now. up big-time. our traders even there? how is the volume? the 20 plenty of people that showed up. this is the day of the monthly jobs report. we do have fairly decent volume for this type of a holiday. it is sandwiched between a fourth of july holiday. the dow jones industrials are up 92 points now. they dipped into negative territory briefly. we will clock in a winning week. we have not had two back-to-back winning weeks. we have had a couple of reasons sold off. it will really be a nice standing to have two weeks back-to-back. ingersoll brand, one of the best performers on the s&p 500. petroleum, that is among the worst. back to you. lauren: thank you, nicole. let s also get a check at the bond market. the ten year treasury yield hitting the highest since 2011. yields have increased by more than a full percentage point since early may. it will reduce demand for bonds. thus sending yields higher. adam: what
are afraid of inflation. now the fear is deflation. what the deflation trade? if we go into an era liie that how do we trade stocks and bonds. we ll deal with all the issues on after the bell which starts right now david: let s get to today s action. we have john tooy, usaa head of equity invery muchs. investors he says, don t panic. there is no apocalypse coming. there is still time to buy. david: todd horowitz is in the pits of the cme. we talked about inflation, deflation. a lot of people go to the grocery store. they say what do you mean there is no inflation. i m paying more for beef and more at the gas station but commodities is telling us. certainly gold trade. silver and some of the beans is telling us deflation may be on the horizon, right? it is still a concern. we re still substantially away from it. when the action the way the fed is acting and markets acting it certainly has to be a concern. we re seeing gold, 6%, 7% down. look at crude oil down 3%. look at g
lawfulness of or aions. in or opening statement. do you believe her when she says, she is innocent? i have not done anything wrong. i have not broken any laws. i have not violated any irs rules or regulations, and i have not provided false information on this or any other congressional committee. some people will assume i have done something wrong. i have not. congressman troy dowdy made it clear she does not believe her until she subjecteed herself to cros cross-examinationy t committee. here is congressman reasoning. mr. cummings said we shouldrun this like a courtroom, i agree she testified, and waived her right to privilege, you don t get to tell your side of the story not be subjected cross-examinatio the congressman will be joining us in the latest in obama irs scandal. the entire obama administration at times, seems to be hunk erring downberring down behind a stonewall. it has been now to wall off the irs, frustrating for democrats as well as republican congressm