Gold price (XAU/USD) recovers some of its initial losses and rebounds to near $3,305 during Nortyh American trading hours on Friday. Still, the precious metal is down almost 0.4%. The yellow metal bounces back as trade tensions between the United States (US) and China have renewed after President Donald Trump signaled in a post on Truth.Social that Beijing has violated trade agreement. "The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US," Trump wrote. Renewed trade tensions between the world's largest economies have increased demand of...
Oil prices fell on Friday and headed for a second straight weekly decline, as investors weighed the potential for a bigger OPEC+ output hike in July and uncertainty spread over U.S. tariff policy after the latest changes on the floor. Brent crude futures were down 21 cents, or 0.33%, at $63.94 a barrel by 1451 GMT. U.S. West Texas Intermediate crude futures were down 34 cents, or 0.56%, at $60.60 a barrel. Brent futures for July expire on Friday. The more liquid August contract was trading 43 cents lower, or 0.71%, at $59.77 a barrel. At that level, the benchmark front-month contract was...
The dollar strengthened amid uncertainty over U.S. tariffs and after mixed economic data. The Bloomberg Dollar Spot Index rose 0.1%, paring an earlier 0.3% gain from a weaker-than-expected Chicago PMI; fell 0.6% in May and is set for the longest monthly decline since August 2020 U.S. personal income data beats forecasts, but personal spending falls in April; Consumer sentiment rebounds in May US Consumers Hit Brakes as Goods Imports Fall Sharply US Consumer Sentiment Improves in Latest Michigan Survey in May Proposed tax measures in the US tax and spending bill that could raise tax...