Goldman Sachs sees gold prices climbing 14% to $4,900 per ounce by December 2026 in its base case, it said in a note on Thursday, while citing upside risks to this view due to a potential broadening of diversification to private investors. In a note in which the bank discussed its views on commodities for 2026, Goldman Sachs said it expects structurally high central bank demand and cyclical support from U.S. Federal Reserve interest rate cuts to lift the price of gold. It continues to recommend long exposure in the yellow metal. Spot gold was trading at $4,334.93 per ounce at 1824 GMT on...
The U.S. economy added fewer jobs than anticipated in August, possibly bolstering the case for the Federal Reserve to slash interest rates at its next policy meeting later this month. Data from the Labor Department's Bureau of Labor Statistics showed that nonfarm payrolls came in at 22,000 last month, down from an upwardly-revised level of 79,000 in July. Economists had estimated that the figure would stand at 75,000. Meanwhile, the unemployment rate edged higher to 4.3%, up from 4.2% in the prior month and in line with forecasts. Source : Investing.com
U.S. President Donald Trump told European leaders on Thursday that Europe must stop buying Russian oil that he said is helping Moscow fund its war against Ukraine, a White House official said, striking a combative tone amid slow diplomatic progress to end the fighting. Trump joined a call of the "Coalition of the Willing" countries, led by French President Emmanuel Macron, who were meeting in Paris on security guarantees for Kyiv in the event of a peace deal with Russia. "President Macron and European leaders called President Trump into their ‘Coalition of the Willing' meeting. President...
Activity at US service providers expanded in August at the fastest pace in six months on the sharpest acceleration in orders in nearly a year. The Institute for Supply Management's index of services rose 1.9 points last month to 52, the group said Thursday. Readings above 50 indicate expansion, and the figure topped all but one estimate in a Bloomberg survey of economists. The new orders index jumped 5.7 points, the most since September, to 56. The business activity index, which parallels the ISM's factory output gauge, climbed to a five-month high of 55. The solid advance in...
High-stakes energy diplomacy in Beijing this week signals China's willingness to challenge US President Donald Trump's efforts to isolate Russia and assert US energy dominance. Chinese President Xi Jinping, sitting alongside Russian President Vladimir Putin, used this week's military parade commemorating the 80th anniversary of Japan's defeat in World War II to demonstrate Beijing's military and diplomatic clout amid escalating trade tensions with Washington. China backed up the parade with action on Tuesday, when Russian gas giant Gazprom announced that both sides had signed a legally...
US applications for unemployment benefits rose to their highest level since June, adding to evidence that the labor market is cooling. Initial claims rose 8,000 to 237,000 in the week ending August 30. The median forecast in a Bloomberg survey of economists was for 230,000 applications. Continuing claims, a proxy for the number of people receiving benefits, were little changed at 1.94 million in the previous week, according to Labor Department data released Thursday. Companies are increasingly hesitant to hire as they assess the economic impact of President Donald Trump's policies. Hiring...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
Pasangan mata uang EUR/USD mengawali pekan ini dengan nada sedikit melemah di sesi Asia, diperdagangkan di sekitar 1,1730, turun kurang dari 0,10% dalam sehari. Meski terkoreksi, euro masih berada...
US President Donald Trump said Washington is willing to provide security assistance to Ukraine as part of a deal to end the war with Russia. He emphasized that security support is a crucial factor...