Hong Kong stocks fell 144 points, or 0.6%, to 24,936 in early trading on Friday, ending a four-day winning streak amid widespread weakness. Caution prevails ahead of China's July CPI and PPI data due Saturday, with consumer prices expected to ease slightly and producer deflation likely to persist amid ongoing trade risks. On the domestic front, Hong Kong's foreign exchange reserves fell to a three-month low of USD 425.4 billion in July. Semiconductor Manufacturing shares plunged 4.7% after missing second-quarter profit estimates, while MGM China (-4.3%), Kingdee Intl. Software (-4.2%), SITC...
Gold prices remained under pressure during the early Asian session on Monday as a stronger US dollar weighed on bullion. The metal eased after hitting an all-time high on Thursday amid hopes for a Ukraine peace deal. However, potential interest rate cuts hinted at by the Federal Reserve (Fed) and ongoing economic uncertainty may limit gains for the yellow metal. On Sunday, Ukrainian and US officials held talks in Riyadh, Saudi Arabia, continuing efforts to end the three-year war as President Donald Trump pushes for a ceasefire. Ukrainian Defense Minister Rustem Umerov said that the...
Silver prices fell more than 1% on Friday (3/21), hitting a one-week low as the U.S. dollar strengthened. The dollar's strength came after Federal Reserve Chairman Jerome Powell reiterated that the central bank is in no rush to cut interest rates further, although he hinted at two potential rate cuts this year. Source: Newsmaker.id
Gold prices continued to decline in the European session on Friday (21/03). Gold is currently trading in the $3028 areaAfter some minor corrections from overbought technical levels, gold prices have stabilized and remain well supported, he said in a note.Meanwhile, Investors have been buying gold as a hedge against uncertainty about Trump's policies and central banks are buying gold to reduce their dependence on the US dollar. In the long term, rising geopolitical risks will continue to support the precious metal's prospects. Investors are concerned about the de-dollarization trend as the...
Silver held onto earlier losses in the $33.60 an ounce range, after the Federal Reserve kept interest rates at 4.25%-4.5%, while signaling a potential cut of 0.5 percentage points in 2025. Despite economic uncertainty fueled by tariffs and President Trump's fiscal policies, silver remained near a five-month high as trade war concerns escalated. Rental rates have surged amid shrinking stocks, especially in London, as silver flows to the U.S. to take advantage of higher prices. The shift has widened the price gap between major markets, with spot silver up 17% this year, outperforming other...
Gold prices fell on Thursday as investors took a breather following the Federal Reserve's (Fed) latest monetary policy decision and escalating hostilities in the Middle East. XAU/USD was trading at $3,042, down more than 0.19%. Market sentiment turned negative, while the greenback showed a recovery as depicted by the US Dollar Index (DXY), which tracks a basket of six currencies against the greenback. Source: Newsmaker.id