Asian stock markets opened higher on Thursday morning (October 16th), following a positive close on Wall Street despite volatile trading. Stocks in Japan, Australia, and South Korea rose, while index futures pointed to a weaker opening in Hong Kong. In the US, the S&P 500 index rose 1.2%, then fell, and finally closed up 0.4%. Renewed tensions between the United States and China have again affected market sentiment. US President Donald Trump stated that his country is now "locked in a trade war" with China. However, US Treasury Secretary Scott Bessent suggested a longer pause on import...
Silver prices surged to near record highs following a major short squeeze in the London market. Meanwhile, gold hit a new record above US$4,060 per ounce, driven by surging demand for safe haven assets amid trade tensions between the United States and China. Other precious metals, such as platinum and palladium, also rallied by more than 2%. This price increase was driven by a combination of massive central bank purchases, increased ownership in ETFs, and the Federal Reserve's low interest rate policy. Furthermore, political uncertainty in the US and the threat of new tariffs on China have...
Oil rose after after President Donald Trump's administration signaled openness to a deal with China to quell fresh trade tensions between the two biggest crude consumers. Brent advanced above $63 a barrel after plunging 3.8% on Friday in its biggest drop since August, while West Texas Intermediate was near $60. Trump on Friday announced an additional 100% tariff on China as well as export controls on "any and all critical software" beginning Nov. 1, following moves by Beijing to add new port fees on US ships and curbs on exports of rare earths and other critical materials....
Gold price rises during the North American session on Friday amid an escalation of the trade war between the US and China. This, the US government shutdown and expectation for further easing by the Federal Reserve (Fed) keep the yellow metal bid. XAU/USD trades at $3,997, up 0.60%, at the time of writing. Bullion's boosted by escalating tariff threats and prolonged Washington deadlock reigniting risk aversion Risk aversion is the name of the game after US President Donald Trump warned of possible fresh duties on China, as the latter threatens to impose export controls on rare earths. Trump...
Silver surged toward an all-time high above $50 an ounce as a historic squeeze deepened in the London market. Spot prices rose as much as 3.7% to above $51 an ounce before paring some gains, while one-month borrowing costs for the precious metal in London hit a year-to-date record of 35%. Gold and palladium also rose. Silver is up more than 70% this year, far outpacing gold, as investors seek safety amid US fiscal uncertainty, concerns over an overheated equity market, and threats to the Federal Reserve's independence. Earlier this year, concerns that the US could impose tariffs on silver...
Gold rebounded from earlier losses on Friday (October 10th) and is on track for its eighth consecutive weekly gain, driven by widespread political and economic uncertainty and expectations of further US interest rate cuts, while silver is nearing a record high. Spot gold, which hit a record high of $4,059.05 on Wednesday, rose 0.6% to $3,998.02 an ounce by 11:12 GMT – a gain of 2.9% so far this week. US gold futures for December delivery rose 1% to $4,012.30. Non-yielding bullion is traditionally considered a hedge during times of broader uncertainty. "Gold is no longer just a defensive...