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...
Oil was little changed, pausing last month's rally as traders position themselves for impending US tariff announcements. Brent traded below $75 a barrel after slipping 0.4% on Tuesday, with West Texas Intermediate above $71. US President Donald Trump is set to announce his tariff measures later on Wednesday, and the sweeping duties will take immediate effect, according to his top spokeswoman. Several proposals are said to be under consideration, including a tiered tariff system with a set of flat rates for different countries, as well as a more customized...
Gold price (XAU/USD) trades with a positive bias through the first half of the European session on Wednesday and remains close to the all-time peak touched the previous day. Investors remain worried about US President Donald Trump's aggressive trade policies and their impact on the global economy. Adding to this, persistent geopolitical tensions turn out to be key factors acting as a tailwind for the safe-haven bullion. Furthermore, expectations that the Federal Reserve (Fed) will resume its rate-cutting cycle soon in the wake of a tariff-driven US economic slowdown lend additional support...
The Silver price (XAG/USD) attracts some buyers to around $33.85 during the early European session on Wednesday. The concerns over US President Donald Trump's tariff plans widening the global trade war and triggering an economic slowdown boost the safe-haven flows, supporting the Silver price. Investors brace for US President Donald Trump's announcement of reciprocal tariffs later on Wednesday. Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent...
Gold prices inched lower in Asian trading on Wednesday after hitting an all-time high in the previous session, as traders awaited specific details on U.S. President Donald Trump's April 2 tariffs. XAU/USD inched 0.3% lower to $3,116.24 per ounce by 00:57 ET (04:57 GMT), after rising by 0.4% in early Asian trading. It reached a record high of $3149.03 on Tuesday. Gold Futures expiring in June were largely unchanged at $3,146.06 an ounce. The yellow metal had hit consecutive fresh record-highs in the last four sessions, but traders were cautious on the day of Trump tariffs, leading...
Gold rose above $3,130 per ounce on Wednesday, climbing back toward record levels reached in the previous session, driven by risk aversion as markets braced for additional US tariffs that could escalate the global trade war. The White House did not disclose details on the tariffs' scope but said they would take effect immediately after being unveiled. President Trump also hinted the duties would impact many countries, raising concerns about broad economic fallout. Additionally, gold was supported by expectations of interest rate cuts, central bank buying, and strong demand for gold-backed...
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.
It...
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...