Gold futures lost steam on Friday, ending lower for the session as the dollar strengthened. Prices, however, gained for the week after logging their first intraday climb above $1,450 an ounce in six years.
August gold trading fell by $1.40, or 0.1%, to settle at $1,426.70 an ounce, after touching an intraday high of $1,454.40. Friday™s intraday high and Thursday™s settlement were the loftiest for a most-active contract since mid-May 2013, according to Dow Jones Market Data.
U.S. stocks finished firmly lower Friday, capping the worst week for equities since the end of May, as doubts about the magnitude of an expected rate cut by the Federal Reserve softened the buying mood on Wall Street.
The Dow Jones Industrial Average closed down 0.3% at 27,154, off 69 points, the S&P 500 index retreated 0.6% at 2,977, while the Nasdaq Composite Index pulled back 0.7% to end at 8,146. For the week, the Dow booked a 0.7% decline, the S&P 500 finished with a weekly slide...
Oil futures finished higher Friday after reports that Iran seized a U.K.-flagged ship in the Gulf of Oman. Prices still settled lower for the week, however, on worries about a slowdown in demand.
The market saw an "insane downward trend in crude oil this week," said James Hatzigiannis, senior commodities associate at Long Leaf Trading Group. "I think it is a bit of an overreaction and you should see prices recover next week if there [is] any progress on the U.S./China trade front or any...
Hong Kong shares ended the week on a strong note Friday, jumping more than one percent on hopes for a sharp interest rate cut by the Federal Reserve later this month.
The Hang Seng Index added 1.07 percent, or 303.74 points to 28,765.40.
The benchmark Shanghai Composite Index climbed 0.79 percent, or 23.02 points, to 2,924.20 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 0.75 percent, or 11.63 points, to 1,560.27.
Source : AFP
China urged Washington on Friday to œcorrect sanctions imposed on Chinese companies accused of helping Iran acquire materials for its nuclear program.
U.S. pressure on Iran and its œlong-arm jurisdiction against companies in third countries is the œroot cause of tension with Tehran, a foreign ministry spokesman said.
œChina has consistently and resolutely opposed the United States imposing unilateral sanctions and so-called long-armed jurisdiction over other countries,...