Silver prices fell below $33 per ounce on Monday, extending losses from the previous session as easing US-China trade tensions strengthened the dollar and dampened demand for safe-haven metals. Last week, US President Donald Trump signaled openness to lowering Chinese tariffs, while Beijing exempted certain US goods from its 125% levies. Washington is also holding further trade talks with other major economies this week including Japan and South Korea. Meanwhile, China expressed confidence in meeting its full-year growth target of around 5% but refrained from introducing immediate...
Gold futures are flat at $3,298.90 a troy ounce on a stronger U.S. dollar and signs of easing U.S.-China tensions. Gold prices slid on Friday after briefly breaching $3,500/oz earlier in the week. The most interesting point for markets is that buying demand from Asia appears to have dried up, at least for the time being, Pepperstone's Michael Brown says in a note. This could suggest more downside pressure in the near-term, which could be further exacerbated by some investors with weaker long positions bailing out the incredibly crowded gold trade, Brown writes. Given intense market...
Oil prices inched higher on Monday though remained dogged by uncertainty over trade talks between the U.S. and China, clouding the outlook for global growth and fuel demand, while the prospect of OPEC+ raising supply cast more gloom. Brent crude futures were up 21 cents, or 0.3%, at $67.08 a barrel, as of 0742 GMT. U.S. West Texas Intermediate crude gained 24 cents, or 0.4%, to $63.26 a barrel. Both benchmarks nudged higher for a third session. "Absence of news is pushing oil prices modestly higher as traders are positioned short ahead of potential increased OPEC+ supply from the May 5...