Gold prices fell to a more than one-week low on Monday as the dollar firmed, while traders awaited more U.S. economic data and comments from Federal Reserve officials this week for clarity on the timeline for interest rate cuts. Spot gold fell 0.2% to $2,394.18 per ounce, as of 1837 GMT. U.S. gold futures settled…
The Hang Seng Index opened 0.2% lower at 17,606.47 in Hong Kong. Meituan contributed the most to the index decline, decreasing 1.5%. BYD Electronic International Co. had the largest drop, falling 4.0%. In early trading, 46 of 82 shares fell, while 29 rose; 2 of 4 sectors were lower, led by commerce and industry stocks….
Oil was steady near a six-week low as traders waited for fresh clues on market balances, including the outlook for US stockpiles. Global benchmark Brent held above $82 a barrel after shedding more than 3% over the previous two sessions, while West Texas Intermediate was near $78. The drop came amid sales by algorithmic traders, and as…
Oil prices slipped on Tuesday on worries about a slowing Chinese economy crimping demand, though a growing consensus that the U.S. Federal Reserve will begin cutting its key interest rate as soon as September limited declines. Brent futures fell 57 cents, or 0.67%, to $84.28 a barrel by 0630 GMT, while U.S. West Texas Intermediate…
European stocks opened lower Tuesday as investors assess the economic and political outlook in the region and beyond. The pan-European Stoxx 600 was down 0.5% as all sectors and major bourses traded in the red. Mining stocks led losses, down 0.97%, while autos also sank 0.9%. Shares of German fashion house Hugo Boss plunged more…
Gold price might reach for record highs with Fed rate cuts now in sight and as uncertainty over the U.S. elections increase safe-haven flows toward bullion, according to Phillip Nova analyst Priyanka Sachdeva in a research note. The precious metal has had three straight weekly gains and is on track for its sixth consecutive month…
