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 edged higher after swinging between gains and losses for much of the session as traders weighed mixed signals about the risks to flows from the Middle East against the prospect of an impending supply glut. West Texas Intermediate added 0.5% to settle above $68 a barrel, while Brent settled around $72. WTI had gained as much as 1.1% and slid as much as 1.7% during the session. Crude fell earlier in the day on unconfirmed reports that Iran may hold off on retaliating against Israel, said Dan Ghali, a commodity strategist at TD Securities. Prices rebounded later after...
Gold prices extended losses for the fourth straight session on Wednesday, weighed down by a stronger dollar and elevated bond yields on news that October U.S. consumer prices increased as expected. The Labor Department also reported slower progress toward low inflation since mid-year, which could result in fewer interest rate cuts from the Federal Reserve next year. Spot gold was down 0.7% at $2,580.39 per ounce by 01:49 p.m. ET (1849 GMT), after hitting a near two-month low earlier in the session. U.S. gold futures settled 0.8% lower at $2,586.50 per ounce. The dollar, advanced near a...
Gold futures fall 0.4% to $2,596.30 a troy ounce. The precious metal had risen earlier in European trading, but looks set to end a fourth consecutive session down. The precious metal has faced significant downward pressure since Donald Trump won the U.S. presidential election. The U.S. dollar and Treasuries significantly rose after Trump's victory, reducing the appeal of non-yielding safe-havens like bullion. Trump's planned tax cuts and tariffs are also viewed as likely to boost inflation, decreasing the chances of further sizeable Federal Reserve interest rate cuts. Meanwhile, the latest...
Oil edged higher, but prices remain broadly stuck in a narrow band, as traders weigh the outlook for consumption and a possible oversupply next year. Brent crept above $72 a barrel in London after ending little changed on Tuesday, near its lowest level this month. Crude's slight gain coincided with a respite from an election-driven dollar rally that has made commodities less attractive for some buyers. Oil prices remain thoroughly rangebound though, trading in a band of a little over $5 for close to a month as traders weigh the outlook for next year. OPEC shaved...
Gold edged higher following a bruising run that came after Donald Trump's election win spurred a rally in the dollar. A gauge of the greenback has risen to its highest level in almost two years, making gold and other commodities priced in dollars more expensive for most buyers. Hedge funds have been unwinding bullish wagers on the precious metal and exchange-traded fund flows turned less supportive amid a widespread rotation into US equities. Bullion has slipped more than 6% from an all-time high on Oct. 31, but is still up by over a quarter this year. It has been...
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...