The Hang Seng closed almost flat at 24,911 on Wednesday after dipping slightly in morning deals. Traders digested comments from President Trump, who said the U.S. was close to a trade deal with China and that he would meet President Xi before year-end if an agreement is reached. Investors also looked ahead to key Chinese economic data, including trade figures on Thursday and inflation on Saturday, amid concerns over rising trade barriers and persistent deflation risks. At the same time, markets braced for a possible new U.S. tariff announcement targeting semiconductors and chips, expected...
Gold edges higher in early Asian trade amid lingering geopolitical tensions that typically enhance the safe-haven allure of the precious metal. Russia launched a missile-and-drone attack on Ukraine at the end of last week, killing at least three people in Kyiv and igniting fires across the capital. "Gold has been showing strength for some time now," Commerzbank Research's Barbara Lambrecht says in a recent research report. The commodity analyst cites drivers including the threat of escalation of the Russia-Ukraine conflict. Spot gold is 0.1% higher at $3,313.90/oz. Source : Dow Jones...
WTI crude oil futures climbed 1.9% to settle at $64.60 per barrel on Friday, marking their first weekly gain in three weeks with a rise of over 6.5%. The rebound was fueled by renewed optimism after trade talks resumed between US President Donald Trump and China's President Xi Jinping, raising hopes for stronger global demand. Sentiment was further lifted by news that Canada had also entered direct trade discussions with the US. Despite the gains, the oil market remains volatile amid geopolitical tensions, including the potential for increased US sanctions on Venezuela and the risk of...
Gold prices slipped more than 1% on Friday after a stronger-than-expected U.S. jobs report dampened hopes for imminent Federal Reserve rate cuts this year, while silver soared to its highest level since 2012. Spot gold fell 1.1% to $3,316.13 an ounce, as of 02:28 p.m. ET (1828 GMT), but rose 0.8% for the week so far. U.S. gold futures settled 0.8% lower at $3,346.60. A U.S. Labor Department report showed non-farm payrolls increased 139,000 in May, compared with estimates for a rise of 130,000, according to economists polled by Reuters. The unemployment rate stood at 4.2%, in line with...
Gold firmed on Friday and was poised for a weekly rise after U.S. data this week boosted hopes of interest rate cuts by the Federal Reserve, while silver hit a more than 13-year high. Spot gold was up 0.28% at $3,360.60 an ounce. Bullion has gained 2% for the week so far. U.S. gold futures climbed 0.29% to $3,384.87. "The disappointing jobless claims data, indicating potential labour market weakness, has had a more substantial impact on gold prices than the optimism stemming from President Trump's call with President Xi," said Alexander Zumpfe, a precious metals trader at Heraeus Metals...
The dollar rose versus all Group-of-10 currencies as traders trim exposure and await US non-farm payrolls data for fresh insights into the health of the world's largest economy. The Bloomberg Dollar Spot Index rises 0.2% and is down 0.5% on a weekly basis; data later on Friday is likely to show that US hiring moderated further in May, which could weigh on the greenback given higher FX sensitivity to data releases lately. EUR/USD drops 0.3% to 1.1411, erases Thursday's advance; it's up 0.6% this week. The ECB should take a break from lowering...