Oil prices rose on Monday after both sides in U.S.-China trade talks over the weekend touted progress, lifting market sentiment that the world's two largest crude users may be moving toward resolving their trade dispute. Brent crude futures rose 43 cents, or 0.67%, to settle at $64.34 a barrel by 0500 GMT. U.S. West Texas Intermediate (WTI) crude futures were trading at $61.50 a barrel, up 48 cents, or 0.79%, from Friday's close. Both benchmarks rose more than $1 on Friday and gained more than 4% last week for their first weekly gain since mid-April, after a U.S. trade deal with Britain...
Gold fell on Monday as positive US-China trade talks eased market concerns, prompting investors to shift from safe-haven assets to riskier investments. Spot gold fell 1.4% to $3,277.34 an ounce, as of 0432 GMT. US gold futures fell 1.9% to $3,281.70. "The dollar index has strengthened as the Trump administration touted progress in trade negotiations, with China joining talks over the weekend in Switzerland weighing on gold prices," said Jigar Trivedi, senior commodities analyst at Reliance Securities. The US and China ended high-stakes trade talks on a positive note on Sunday, with US...
The USD/CHF pair rose near 0.8340 during the early European session on Monday (5/12). The Swiss Franc (CHF) weakened against the Greenback amid easing fears of a trade war between the United States (US) and China, the world's two largest economies. China and the US have said that they have made progress in trade talks in Switzerland, weighing on safe-haven currencies such as the CHF and providing some fresh air for the pair. US Treasury Secretary Scott Bessent described the discussions as "productive and constructive," while Chinese Vice Premier He Lifeng said trade talks with US officials...