Oil prices held steady as the market weighed the prospects for Russian crude flows to India after the Trump administration stepped up criticism of the trade deal ahead of an expected tariff hike. Brent held above $67 a barrel, on track for its biggest weekly gain since early July. White House trade adviser Peter Navarro again criticized India for continuing to buy Russian oil and said he sees US import levies on the country doubling as planned on August 27. President Donald Trump has threatened to raise tariffs on Indian goods to 50%, half of which is due to purchases of Russian crude....
Gold strengthened 0.6% to US$3,359/oz in the US session on Friday (August 22nd), as the dollar weakened after Fed Chairman Jerome Powell opened the door to a September interest rate cut. Sentiment turned positive for the precious metal as the prospect of lower interest rates typically reduces the opportunity cost of holding gold. In his Jackson Hole speech, Powell emphasized that unemployment is stable but risks to the labor market are rising. He stated that policy remains in restrictive territory, so "the underlying outlook and shifting balance of risks may require adjustments" to the...