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...
Silver (XAG/USD) prices fell during the European session on Thursday (3/20). The non-interest-bearing metal faced pressure after the Federal Reserve (Fed) interest rate decision. As widely expected, the Fed kept the federal funds rate at 4.25%–4.5% during its March meeting but reiterated its outlook for two rate cuts later this year. Source: Newsmaker.id
Gold prices stabilized again in European trading on Thursday (3/20)Gold stabilized after hitting a record high earlier in the session on slower US growth projections and higher inflation this year from the Federal Reserve, which kept interest rates unchanged. Source: Newsmaker.id
As widely expected, the Fed kept the federal funds rate at 4.25%–4.5% during its March meeting but reiterated its outlook for two rate cuts later this year. Silver, a non-yielding asset, may have found support as U.S. Treasury yields declined, with the 2-year yield at 3.97% and the 10-year yield at 4.24%. Silver prices are trading in the $33 area heading into the European session on Thursday (3/20). Source: Newsmaker.id
Silver (XAG/USD) prices fell after hitting a five-month high of $34.23 on Tuesday (3/19), trading around $33.70 per troy ounce during European trading hours on Wednesday. The decline came as silver investors took a breather ahead of the Federal Reserve's (Fed) interest rate decision later in the day. Traders will likely be watching the Fed's latest economic projections for insight into the future trajectory of US interest rates. Higher interest rates tend to weigh on demand for non-yielding assets such as Silver, limiting its upside potential. Source: Newsmaker.id
Gold fell slightly in early European trading on Wednesday (03/19), correcting slightly lower to near $3,030 at the time of writing. After climbing higher and hitting a new all-time high of $3,045 earlier in the day. The positive move came after headlines emerged that authorities had detained Istanbul Mayor Ekrem Imamoglu, a major political rival of President Tayyip Erdogan, on charges including corruption and aiding a terrorist group. Source: Newsmaker.id