Oil posted its worst week since May as the coronavirus outbreak continues to pressure prices. A slowdown in China's economy would impact demand because China is the world's largest crude oil importer, after importing a record 10.12 million barrels per day in 2019, according to data from the General Administration of Customs. China is also the second-largest oil consumer, behind the United States. On Friday, U.S. West Texas Intermediate crude futures fell 2.5%, or $1.40, to settle at $54.19. At the session low WTI hit $53.85, its lowest level since Oct. 31. This was the fourth straight day...

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Gold prices edged higher on Monday, rising towards their best level since April as the U.S. dollar weakened on hopes the U.S. and China would hammer out an agreement resolving their protracted trade war. Comex gold futures were up $2.25, or around 0.2%, at $1,329.95 a troy ounce by 8:40AM ET (13:40 GMT), not far from a 10-month high of $1,331.10. Meanwhile, spot gold was trading at $1,326.91...

The euro rallied and riskier currencies like the Australian dollar strengthened on Monday as optimism over a breakthrough in U.S.-China trade war talks encouraged investors. The euro ticked 0.3 percent higher to $1.1328, while the dollar index, which measures the U.S. unit against a basket of rivals, slipped 0.2 percent to 96.687 in a quiet session with U.S. markets closed for a holiday on...

Gold holds near its highest close since April as the dollar retreated and investors weighed broad optimism that the U.S. and China may be able to reach a deal that would avert a tariff increase on Chinese goods by March 1. Palladium hit a record. Spot gold gained as much as 0.2% to $1,325.39/oz early Monday, highest since Jan. 31, and traded at $1,324.85 at 9:42am in...

Foreign exchange markets got off to a slow start Monday, with markets set to remain subdued due to a sparse data calendar in Europe and public holidays in North America. At 03:00 AM ET (0800 GMT), the dollar index was at 96.71, down nearly 0.5% from the new high for 2019 that it hit last week. It was supported by the buck rising against the yen, as the worlds cheapest funding currency...

Oil prices gained on Monday in Asia, supported by hopes that the U.S. and China might be able to resolve their trade disputes after both sides reported progress in the latest negotiations that ended in Beijing last week. U.S. President Donald Trump said at a news conference over the weekend that the talks are œgoing extremely well, and that Washington was closer than ever before to "having...

Gold extended gains from its highest close since April as the dollar retreated and investors weighed broad optimism that the U.S. and China may be able to reach a deal that would avert a tariff increase on Chinese goods by March 1. Palladium hit a record. Spot gold as much as +0.2% to $1,325.39/oz, highest since Jan. 31, and traded at $1,324.14 at 12:27pm in Singapore. Prices closed at highest...

Oil prices rose to their highest levels since November last year on Monday, lifted by OPEC-led supply cuts and U.S. sanctions on Iran and Venezuela. U.S. West Texas Intermediate (WTI) crude oil futures pushed through $56 per barrel for the first time this year, hitting $56.13 a barrel before edging back to $56.02 a barrel by 01:12 GMT, still up 0.8 percent from their last...

Gold prices stood firm at two-week highs on Monday as the dollar inched lower, while equities rose on increased expectations of a U.S.-China trade deal, capping bullion's gains. Spot gold inched 0.1 percent higher to $1,321.69 per ounce at 0037 GMT. The metal hit a near 9-month high of $1,326.3 an ounce on Jan. 31 U.S. gold futures rose 0.2 percent to $1,324.9 an ounce. Source : Reuters

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