Gold price (XAU/USD) recovers slightly from the daily low and climbs back above the $3,300 mark in the last hour, though it retains the negative bias through the first half of the European session on Friday. China's Foreign Ministry denied any ongoing negotiations with the US on tariffs, keeping a lid on the optimism in the markets and lending some support to the safe-haven precious metal. Apart from this, the protracted Russia-Ukraine war keeps the geopolitical risk premium in play and helps limit the downside for the bullion. Moreover, the prospects for a more aggressive policy easing by...
Oil prices rose for a second session on Friday buoyed by potential de-escalation of the U.S.-China trade war, but the market was headed for a weekly decline of around 2% amid concerns about oversupply. Brent crude futures gained 31 cents to $66.85 a barrel by 0650 GMT, falling 1.7% so far for the week. U.S. West Texas Intermediate (WTI) crude rose 35 cents to $63.12 a barrel, having declined 2.4% for the week. "For today, oil prices are slightly up as the market responds to signs of easing tensions around Trump's tariffs and a potential shift in the Fed's policy stance, contributing to a...
The U.S. dollar rose Friday at the end of a volatile week, boosted by hopes for a degree of compromise in the trade war between the U.S. and China, the world's two largest economies. At 04:10 ET (08:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, climbed 0.3% to 99.415, after a sharp rebound from a three-year low in the previous session. Dollar helped by potential trade compromise The dollar traded higher, helped by a Bloomberg report indicating that China's government is weighing the exemption of some U.S. goods from its 125% import...