European shares closed flat on Wednesday, surrendering early session gains, as healthcare stocks felt the pinch from U.S. President Donald Trump's latest threat to impose higher tariffs on pharmaceutical imports. The pan-European STOXX 600 index closed 0.06% lower, breaking its two-day winning streak despite starting the session on a positive note. Healthcare stocks bore the brunt of the selling pressure. The sector index plunged 2.8% to its lowest level in more than three months after Trump unveiled a graduated tariff plan targeting pharmaceutical imports that could see levies on the...
Gold dropped 1% on Monday, ending a four-session winning streak, weighed down by a robust U.S. dollar, as investors eyed upcoming economic data and remarks from Federal Reserve officials for clues on the future of U.S. interest rates. Spot gold was down 0.5% to $2,640.93 per ounce, as of 1207 GMT. It was down 1% earlier in the session. U.S. gold futures fell 0.6% to $2,663.90. The dollar index gained 0.5%, on track for its best day in over a week, making greenback-priced bullion more expensive for holders of other currencies. Trump on Saturday called on BRICS nations to pledge not to...
The greenback snapped a three-day losing streak amid focus on French budget talks and a fresh currency warning by President-elect Donald Trump. The Bloomberg Dollar Spot Index rises as much as 0.6% while the yield on 10-year Treasuries is up by three basis points to 4.20%. Trump warned the so-called BRICS countries he would require a commitment that they wouldn't create a new currency as an alternative to using the greenback, and repeated threats to levy a 100% tariff if they did. This is a tactic that risks backfiring, market watchers...
WTI crude oil prices were steady at $68.5 a barrel on Monday, as investors monitored positive economic data from China, and awaited the upcoming OPEC+ meeting. Chinese factory activity grew for a second month and at the fastest pace in five months in November, signaling a recovery in the world's largest oil importer after a series of stimulus measures introduced in late September. At the same time, Saudi Arabia, is anticipated to lower crude prices for Asian buyers in January to a four-year low. Attention also remains on the delayed OPEC+ meeting, rescheduled for later this week, where the...
Gold (XAU/USD) prices maintained its bid tone through the first half of the European session on Monday (2/12) and is currently trading around the $2,630 region, or the lower end of its daily range. The US Dollar (USD) bounced back after its recent decline to a near three-week low amid a healthy uptick in the US Treasury bond yields and turned out to be a key factor weighing on the precious metal. Furthermore, expectations that US President-elect Donald Trump's tariff plans and expansionary policies will boost inflation, setting the stage for the Federal Reserve (Fed) to halt interest rate...
Silver prices fell nearly $30 an ounce on Monday, extending losses from last week as the U.S. dollar strengthened on optimism about the U.S. economic outlook. The dollar also gained after U.S. President-elect Donald Trump threatened BRICS nations on Saturday with 100% tariffs if they create or support a new currency that could replace the dollar. A stronger dollar makes dollar-denominated commodities more expensive for buyers holding other currencies, dampening demand. Meanwhile, data showed that Chinese manufacturing activity expanded for a second straight month in November, following a...