Former U.S. President Donald Trump threatened to impose tariffs on members of the BRICS group of nations on Friday, warning the alliance would quickly collapse if it ever becomes a significant economic force. "When I heard about this group from BRICS, six countries, basically, I hit them very, very hard. And if they ever really form in a meaningful way, it will end very quickly," Trump said without specifying which nations he was referring to. The BRICS group currently includes Brazil, Russia, India, China, South Africa, and has recently expanded to include other nations. In addition to...
Gold prices pared losses on Thursday after falling more than 2% from an all-time high, as a broad market sell-off triggered by U.S. President Donald Trump's tariffs on imports caught up with bullion traders. Spot gold fell 0.85% to $3,106.99 by 1:47 a.m. EDT (1747 GMT) after hitting a record high of $3,167.57 earlier in the session. U.S. gold futures settled 1.4% lower at $3,121.70 Traders attributed the decline to some profit-taking and margin calls in other asset classes that likely prompted investors to sell some of their gold holdings to cover losses. "When the market sells off on...
Silver prices fell nearly 5% during North American trading hours on Thursday (03/4), testing the sub-$32.00 region. The white metal prices became vulnerable after United States (US) President Donald Trump unveiled a detailed reciprocal tariff plan for its trading partners. The "Buy the Rumor, Sell the News" indicator forced traders to trigger the sell button for Silver prices. The metal had previously performed strongly, along with Gold, over the past few months as investors grew convinced that Trump's tariffs would be inflationary and weigh on economic growth globally, including in the US....
Gold fell more than 2% on Thursday, easing from an all-time high, as a wider market selloff triggered by U.S. President Donald Trump's import tariffs infected bullion traders. Spot gold fell 1.1% to $3,098.73 as of 10:04 a.m. EDT (1404 GMT) after earlier scaling a record of $3,167.57. U.S. gold futures fell 1.4% to $3,121.90. Traders attributed the dip to some profit-taking and margin calls in other asset classes likely prompting investors selling some of their gold holdings to cover losses. "While the whole tariff imbroglio has weighed on the dollar and should be good for gold, but...
Gold dropped more than 3%, falling below $3,060 per ounce on Thursday after briefly reaching a record high above $3,160, following news that the White House would exempt precious metals, steel, aluminum, and other metals from President Trump's "reciprocal" tariffs. However, concerns about the tariffs' impact on global inflation and growth, combined with expectations of rate cuts, central bank purchases, and strong demand for gold-backed ETFs, helped limit the losses. On Wednesday, Trump announced a 10% baseline tariff on imports from all countries, with higher rates for key trade partners,...
The US dollar index tumbled about 2% to 101.8 on Thursday, marking its steepest single-day drop in over two years and hitting a six-month low, as traders reacted to President Trump's latest tariff announcement. On Wednesday, Trump unveiled a baseline 10% tariff on all imports, set to take effect on April 5, with around 60 countries facing even steeper levies—54% for China, 20% for the EU, and 46% for Vietnam. Both China and the EU have already pledged retaliation, fueling concerns over a potential US recession and rising inflationary pressures. In response, traders increased their bets on...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...