European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as both sides aim to reach a trade deal before the August 1 deadline when 30% tariffs on the bloc's exports are due to take effect. After months of negotiations and back-and-forth diplomacy between Brussels and Washington, D.C., the two sides have zeroed in on a deal last week that will see the EU face 15% tariffs on most of its trade. Limited exceptions are expected to apply to aviation, some medical devices and generic drugs, some alcoholic beverages,...
Gold traded just shy of last week's all-time high as unexpectedly weak economic data and rising expectations for inflation helped boost haven demand. Bullion was around $2,937 an ounce, after notching its eighth weekly gain — the longest run since 2020. Gains have been supported by a sharp increase in demand for bullion-backed exchange-traded funds, with holdings last week jumping the most since 2022. Reports on Friday showed US business activity slowed, consumer confidence waned and expectations for inflation surged. The Federal Reserve's Chicago President Austan...
Gold touches all-time high of $2,954 amid trade policy uncertainty.Trump expands tariffs to lumber and soft commodities, adding market jitters.US data mixed: Manufacturing PMI improves, but Services PMI contracts.Gold price slides late on Friday, poised to end the week positively, accumulating eight straight weeks of gains that pushed the yellow metal to all-time highs of $2,954. At the time of writing, the XAU/USD trades at $2,940, down 0.15%. The financial markets' narrative has not changed as US President Donald Trump continues with rhetoric related to tariffs. In addition to imposing...
Gold prices fell on Friday as investors booked profits from the previous session's record high, but were set for an eighth straight weekly gain, boosted by strong safe-haven demand amid concerns over U.S. President Donald Trump's tariff plans. Spot gold fell 0.1% to $2,935.75 an ounce. Bullion is up about 1.7% this week after rising to a record $2,954.69 on Thursday. U.S. gold futures fell 0.2% to $2,950.30. "It's just a classic move of new record highs and profit-taking… (but) the fundamentals of gold remain solid," said Alex Ebkarian, chief operating officer at Allegiance Gold. Gold...
Oil prices fell more than $2 a barrel on Friday, posting a weekly decline as investors grappled with fading Middle East risk premiums along with uncertainty about a potential peace deal in Ukraine. Brent crude futures fell $2.05, or 2.68%, to settle at $74.43 a barrel, while U.S. West Texas Intermediate crude fell $2.08, or 2.87%, to settle at $70.40. Brent crude futures fell 0.4% for the week, while U.S. crude futures posted a weekly loss of 0.5%. "There's a risk-off sentiment here," said John Kilduff, a partner at Again Capital in New York, who also cited relative calm in the Middle...
Silver (XAG/USD) prices faced selling pressure above the key $33.00 level during North American trading hours on Friday (21/2). The white metal declined as the US Dollar (USD) strengthened, with Federal Reserve (Fed) officials continuing to point to restrictive monetary policies. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, rose near 106.75. On Thursday, Fed Governor Adriana Kugler said that the central bank should keep lending rates "steady" for "some time," noting that the net effect of US President Donald Trump's new economic policies is...
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 locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical...