Hong Kong stocks fell 50 points, or 0.2%, to 24,851 in Wednesday morning trading, ending a two-day winning streak amid weakness in the technology, consumer discretionary, and financial sectors. Sentiment worsened after Wall Street closed lower overnight, as weak US data underscored the economic impact of tariffs on activity and earnings. Risk appetite was further dented by reports that two Chinese nationals were arrested in California for allegedly smuggling AI chips, including the Nvidia H100, to China. Caution also grew ahead of China's July trade data and inflation report, with lingering...
Gold (XAU/USD) prices maintained their negative bias below the $3,300 mark through the early European session on Friday (5/30), albeit lacked any follow-through selling. The US dollar (USD) attracted some buyers as they repositioned ahead of the crucial US inflation report, which in turn, was seen as a key factor undermining the commodity. However, concerns about worsening US fiscal conditions, coupled with bets that the Federal Reserve (Fed) will lower borrowing costs further in 2025, might cap gains for the USD and offer some support to the non-yielding yellow metal. Source: Newsmaker.id
Gold rose early in Asia (30/05) after a federal appeals court offered Trump a temporary reprieve from a ruling that threatens to throw out much of his tariff agenda. A weaker dollar also helped, driven by rising fiscal risks and renewed political pressure on the Federal Reserve to cut interest rates. Disappointing data on Thursday showed the U.S. economy shrank at the start of the year, due to weaker consumer spending and a bigger impact from the trade war than previously reported. Meanwhile, tensions with China resurfaced this week after the government announced it would begin revoking...
Gold rose as the dollar gave up short-term gains from a court ruling that struck down President Donald Trump's global tariff agenda. The dollar initially gained after the U.S. Court of International Trade ruled many of Trump's tariffs illegal. However, strategists warn that there are many alternative routes the president can take to ensure his signature economic policies are not derailed. Source: Newsmaker.id
Silver fell again as markets digested news that a US trade court has blocked President Donald Trump's global tariff agenda. As of press time, Silver was trading at $33,180 Source: Newsmaker.id
Gold prices recover on Thursday in early Asian trading (5/29) Bullion prices fell as much as 1% on Thursday, adding to losses of 2% in the previous three sessions, as the U.S. Court of International Trade ruled that Trump's tariffs were illegal, further strengthening the dollar. A stronger U.S. dollar makes gold more expensive for most buyers. On the other hand, the Federal Reserve also revealed in the minutes of its May 6-7 meeting that it sees rising inflation and increased unemployment risks due to the trade war. Source: Newsmaker.id