Gold dropped for a second day as traders assessed the haven™s merits amid a rally in stocks and positive signs from economies reopening, while also focusing on continued civil unrest across the U.S. Businesses are resuming operations worldwide, while manufacturing gauges are painting a more optimistic picture. Activity in China has recovered to 80% to 85% of pre-virus levels, according to Bloomberg Economics. Still, risks to growth remain, including simmering U.S.-China relations that could jeopardizetheir hard-won trade deal. Meanwhile, Donald Trump...

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RECENT NEWS

Oil prices edged lower on Friday, set to post their first weekly fall in five weeks, after U.S. inventory data showed lacklustre fuel demand in the worlds largest oil consumer while worsening U.S.-China tensions weighed on global financial markets. Brent crude slipped 43 cents, or 1.2%, to $34.86 a barrel by 0643 GMT and U.S. West Texas Intermediate (WTI) crude was at $33.14 a barrel, down...

Gold inched up on Friday and was on track for its second monthly gain as deteriorating U.S.-China ties in a world reeling from the coronavirus pandemic rattled investors and fueled demand for the safe-haven metal. Spot gold was up 0.1% at $1,719.47 per ounce by 0342 GMT. U.S. gold futures rose 0.3% to $1,717.60. However, the metal was down for the week, having dropped to a two-week low on...

Oil prices edged lower on Friday after U.S. inventory data showed lacklustre fuel demand in the worlds largest oil consumer while worsening U.S.-China tensions weighed on global financial markets. Brent crude LCOc1 slipped 36 cents, or 1%, to $34.93 a barrel by 0106 GMT and U.S. West Texas Intermediate crude CLc1 was at $33.20 a barrel, down 51 cents, or 1.5%. Still, both contracts are set...

The dollar was hemmed into a narrow trading range on Friday as traders focus shifted to U.S. President Donald Trumps response to Chinas passage of a national security law for Hong Kong. The yuan pulled away from a record low in offshore trade, but investors remain nervous ahead of Trumps announcement later on Friday of policy moves that could ignite a diplomatic row between...

Oil futures rose on Thursday, erasing earlier losses, on signs U.S. gasoline demand is rising despite a big surprise build in crude inventories and worries that Chinas new Hong Kong security law could result in trade sanctions. Oil prices have rebounded in recent weeks on anticipation of improved demand after the coronavirus pandemic sapped worldwide consumption roughly 30%. Overall...

Gold prices notched a slight gain Thursday as investors focused on intensifying friction between the U.S. and China. Continued concerns about negative interest rates and a jump in flows in exchange-traded funds focused on gold also helped to push bullion higher. August gold ended $1.50, or 0.1%, higher at $1,728.30 an ounce. However, that finish was well off the intraday peak for bullion at...

Gold futures rose on Thursday as China-U.S. tensions remained in focus, driving haven buying on Wall Street. Elevated animosities between Beijing and Washington over China's human rights policies, including its relationship with Hong Kong and the treatment of a Muslim minority, have underpinned buying in haven assets. China on Thursday hardened its stance, forging ahead with a resolution to...

Oil futures lost ground Thursday after data from a U.S. industry trade group showed a rise in crude inventories, raising questions over whether expectations for a sharp recovery in demand were overdone. West Texas Intermediate crude for July delivery fell 28 cents, or 0.9%, to $32.53 a barrel on the New York Mercantile Exchange, while August Brent crude was off 20 cents, or 0.6%, at $36.25 a...

PRECIOUS METALS
Gold Declines as Investors Assess Recovery, Protests
Wednesday, 3 June 2020 14:21 WIB Gold dropped for a second day as traders assessed the haven™s merits amid a rally in stocks and positive signs from economies reopening, while...
ENERGY
Oil Hits Three-Month High Over Hopes For Output Cuts
Wednesday, 3 June 2020 09:46 WIB Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the...
CURRENCIES
EUR/USD tops 1.12 amid risk-on mood, ahead of data
Wednesday, 3 June 2020 13:51 WIB EUR/USD is trading around 1.12, the highest since March. The safe-haven dollar is weakening amid optimism for reopening and stimulus, shrugging off...

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