The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to reduce risk in large cap stocks. Among the index's contributors, Tencent was a major drag, with its shares falling by around 2.3%, putting pressure on the technology sector, which has recently been a driving force behind market gains. Weakness in large cap companies like this typically quickly impacts sentiment due to their significant weighting in...
The Silver price (XAG/USD) attracts some buyers to around $33.85 during the early European session on Wednesday. The concerns over US President Donald Trump's tariff plans widening the global trade war and triggering an economic slowdown boost the safe-haven flows, supporting the Silver price. Investors brace for US President Donald Trump's announcement of reciprocal tariffs later on Wednesday. Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent...
Gold prices inched lower in Asian trading on Wednesday after hitting an all-time high in the previous session, as traders awaited specific details on U.S. President Donald Trump's April 2 tariffs. XAU/USD inched 0.3% lower to $3,116.24 per ounce by 00:57 ET (04:57 GMT), after rising by 0.4% in early Asian trading. It reached a record high of $3149.03 on Tuesday. Gold Futures expiring in June were largely unchanged at $3,146.06 an ounce. The yellow metal had hit consecutive fresh record-highs in the last four sessions, but traders were cautious on the day of Trump tariffs, leading...
Gold rose above $3,130 per ounce on Wednesday, climbing back toward record levels reached in the previous session, driven by risk aversion as markets braced for additional US tariffs that could escalate the global trade war. The White House did not disclose details on the tariffs' scope but said they would take effect immediately after being unveiled. President Trump also hinted the duties would impact many countries, raising concerns about broad economic fallout. Additionally, gold was supported by expectations of interest rate cuts, central bank buying, and strong demand for gold-backed...
Oil prices steadied in thin trading on Wednesday after falling in the previous session on concerns that new U.S. tariffs, set to be unveiled at 2000 GMT, may deepen a global trade war that could limit crude demand. Brent futures gained 1 cent to $74.50 a barrel by 0346 GMT after slipping 0.4% on Tuesday. U.S. West Texas Intermediate crude futures rose 3 cents to $71.23 after dropping 0.4%. Prices settled at their highest in five weeks on Monday. The White House confirmed on Tuesday that President Donald Trump will impose new tariffs on Wednesday, though it provided no details about the...
Silver prices fell to $33.8 per ounce, retreating from a five-month high of $34.58 reached on March 28th, as investors braced for President Donald Trump's announcement of reciprocal tariffs set to take effect Wednesday. Market participants weighed concerns over an escalating global trade war, which could weaken industrial demand for silver, against its safe-haven appeal amid growing fears of an economic slowdown. Over the weekend, Trump reaffirmed plans to impose reciprocal tariffs on all countries and reportedly urged his advisers to take a more aggressive trade stance. Meanwhile, US...