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 edges higher in early Asian trade. The precious metal is still supported by geopolitical uncertainties, particularly the ongoing conflict between Russia and Ukraine, Sucden Financial analysts say in a note. Geopolitical tensions can often spur demand for gold, which is considered a safe-haven asset. Spot gold is up 0.2% at $2,654.46/oz. Source: Marketwatch
Oil prices settled lower on Wednesday after U.S. crude and gasoline stocks rose by more than expected last week, but losses were capped by worries about the intensifying war between major oil producer Russia and Ukraine. Brent crude futures for January settled down 50 cents, or 0.68%, at $72.81. U.S. West Texas Intermediate crude futures for December expired on Wednesday, and settled down 52 cents, or 0.75%, at $68.87, while the more active WTI contract for January settled down 49 cents, or 0.71% at $68.75. U.S. crude and gasoline stocks rose by more than expected last week, according to...
Gold moved higher mid-afternoon on Wednesday, climbing for a third day as increasing international tensions prompt safe-haven buying after the Biden Administration permitted Ukraine to fire U.S.-made missiles into Russia and Moscow responded by lowering its policy threshold for the use of nuclear weapons. Gold for December delivery was last seen up US$20.90 to US$2,651.90 per ounce. The dollar rose even as the dollar and treasury yields climbed. The ICE dollar index was last seen up 0.55 points to 106.75. A stronger dollar is bearish for commodities priced in the currency. Treasury yields...
Gold prices climbed for a third consecutive session to mark a one-week high on Wednesday, as investors sought refuge in the safe-haven metal amid mounting geopolitical unease fueled by escalating Russia-Ukraine tensions. Spot gold was up 0.6% at $2,646.79 per ounce, after hitting its highest level since Nov. 11 earlier in the session. U.S. gold futures gained 0.8% at $2,650.60. Geopolitical tensions intensified as Russian President Vladimir Putin broadened the scope for nuclear strikes. "Clearly that's sparked safe-haven interest," said Peter Grant, vice president and senior metals...
Silver prices eased to around $31 per ounce on Wednesday as concerns over the escalating Russia-Ukraine conflict began to subside. On Tuesday, silver briefly rose above $31.50 after Russia lowered its threshold for a potential nuclear strike. However, market fears eased after Russian Foreign Minister Sergei Lavrov stated that the country would "do everything possible" to avoid nuclear war, and the US indicated it saw no reason to adjust its nuclear policy. Investors are now focused on upcoming remarks from US Federal Reserve officials, which could influence the dollar and, in turn,...
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...