The Hong Kong stock market posted moderate gains on Thursday (October 16th), with the Hang Seng Index rising 96 points, or 0.37%, to 26,007. This increase occurred despite mixed performance in the technology and financial sectors. Major tech stocks like Tencent and Alibaba rose slightly, while Xiaomi fell more than 2%. In the financial sector, HSBC and AIA weakened, but Ping An Insurance and the Hong Kong Stock Exchange posted gains. Gold-linked stocks were the market's stars, boosted by the continued record-breaking global gold price. Zijin Mining and Zhaojin Mining both rallied, while a...
Global gold prices remain near all-time highs amid escalating trade tensions between the United States and China, as well as market confidence that the Federal Reserve will cut interest rates again this year. This week alone, gold prices have risen nearly 5% and reached a record $4,218.29 per ounce on Wednesday. This increase is a continuation of the strong rally since mid-August. Expectations of interest rate cuts have made gold increasingly attractive because the precious metal does not yield interest, but its value tends to stabilize amid uncertainty. Fed Chairman Jerome Powell signaled...
Oil prices fell on Wednesday to a five-month low due to escalating US-China trade tensions and the International Energy Agency's (IEA) prediction of a supply surplus in 2026. Brent crude fell 48 cents, or 0.8%, to $61.91 per barrel. US West Texas Intermediate (WTI) crude fell 43 cents, or 0.7%, to $58.27. This was the lowest close for both benchmarks since May 7, for the second straight day. Bank of America said Brent could fall below $50 per barrel if US-China trade tensions escalate while OPEC+ production increases. The world's two largest oil consumers have renewed their trade war over...
Gold prices breached $4,200 per ounce for the first time on Wednesday, extending a record rally as rising interest rate cut bets and geopolitical jitters send investors flocking to the safe-haven metal. Spot gold rose 1.3% to $4,195.35 per ounce as of 1:57 p.m. ET (1757 GMT), after hitting an all-time high of $4,217.95 earlier. U.S. gold futures for December delivery settled up 0.9% to $4,201.60. "The metal has been on a tear, and it doesn't look like it wants to stop With U.S.-China trade tensions being reignited in the last few days, investors have even more reason to hedge their long...
Gold rose to a new record above $4,200 an ounce and silver surged, driven by escalating US-China tensions and speculation that the Federal Reserve will cut interest rates twice more this year. The price of gold bullion rose as much as 1.8% to a peak of $4,218.29 on Wednesday. Spot silver prices rose more than 3%, while the availability of the precious metal in the London market remains limited. Silver had a volatile day on Tuesday, when prices surged to an all-time high above $53.55 an ounce before falling sharply. US Treasury yields fell to their lowest level in months after Fed Chairman...